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Iraqi Kurds ship 13.7mn bbls oil since May, earning $1.3bn ISTANBUL: Iraqi Kurdistan has shipped a total of nineteen tankers carrying 13.7 million barrels of crude oil since May via a pipeline to Turkey's Mediterranean port of Ceyhan, a Turkish energy official told Reuters on Thursday."The flow of Kurdish oil continues without any issues. The 20th tanker will be loaded in the coming days," the official said, adding that the storage tanks in Ceyhan currently held 445,000 barrels of oil.Turkey's state-run lender Halkbank, where buyers of the Kurdish oil make their payments to, holds $400 million for the sold oil, Turkish Energy Minister Taner Yildiz told reporters on Wednesday."This is a business in which so far $1.3 billion worth of revenues have been made," Yildiz added.The Kurdistan Regional Government (KRG) began exporting oil in May via its independent pipeline, linking up with the existing Iraq-Turkey pipeline on the Turkish side of the border.Baghdad strongly rejects the KRG's independent oil exports ...

Rosneft may back out of Morgan Stanley oil unit deal LONDON: Rosneft, Russia's biggest crude oil producer, may back out of a deal to buy Morgan Stanley 's oil trading unit because Western sanctions make it virtually impossible to finance day-to-day operations, three sources close to the state-controlled company said.The people said the chances of the deal going through range from "possible" to "highly unlikely." A spokesman for Rosneft said that "the work over the deal is still ongoing."The business in question trades actual barrels ...

South Korean shares edge higher on upbeat U.S data; won lower SEOUL: South Korean shares rose on Thursday, tracking a broad overnight rally in Wall Street triggered by upbeat U.S economic data.The Korea Composite Stock Price Index (KOSPI) was up 0.16 percent at 2,038.92 points as of 0220 GMT, just below its 14-day moving average.Risk appetites were bolstered by U.S housing data showing a sharp increase in new home sales, as well as dovish comments from a senior Federal Reserve official.Samsung Electronics edged up 0.5 percent, ...

Russia's Rosneft continues work on deal with Morgan Stanley MOSCOW: Russian oil company Rosneft is continuing work on a deal to buy Morgan Stanley's oil-trading unit, RIA news agency quoted an official at the state-run company as saying."Work on the deal is ongoing," the official, who was not identified by RIA, was quoted as saying. Three sources close to Rosneft have told Reuters that Rosneft could back out of the deal because Western sanctions make it virtually impossible to finance day-to-day operations.Copyright Reuters, 2014 ...

Nikkei rises to fresh 7-year high as weak yen lifts risk appetite TOKYO: Japan's Nikkei share average rose to a fresh seven-year high on Thursday as strong US economic data and continuing yen weakness buoyed investors' risk appetite, with buying extending beyond exporters to lift all sectors.The Nikkei share average ended 1.3 percent higher at 16,374.14 points, the highest closing level since November 2007.The broader Topix rose 1.5 percent to 1,346.43, and the JPX-Nikkei Index 400 gained 1.6 percent to 12,246.68. Copyright Reuters, 2014

Brent steadies near $97 after bounce from lowest in over 2 years SINGAPORE: Brent crude steadied near $97 a barrel on Thursday after bouncing from its lowest in 26 months, but abundant supply continued to weigh on the market. US-led air strikes targeted Islamic State-controlled oil refineries in eastern Syria in a move to choke off a crucial source of revenue for the militant group, US officials said, and at least 14 Islamic State fighters were killed. But the market shrugged off potential supply risks in the ...

Oil prices down in Asian trade SINGAPORE: Oil prices edged lower in Asia Thursday but losses were capped following a surprise drawdown in US stockpiles and as dealers await fresh economic data out of Washington, analysts said.US benchmark West Texas Intermediate for November delivery fell two cents to $92.78 while Brent crude for November eased ten cents to $96.85 in mid-morning trade. Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at business consultancy EY, said "a higher-than-forecast" drawdown of ...


Index Closing Chg%
Arrow DJIA 16,804.71 1.40
Arrow Nasdaq 4,422.09 1.59
Arrow S&P 1,946.16 1.32
Arrow FTSE 6,557.52 0.98
Arrow DAX 9,382.03 0.97
Arrow CAC-40 4,365.27 1.15
Arrow Nikkei 16,082.25 0.56
Arrow H.Seng 22,932.98 1.28
Arrow Sensex 26,567.99 0.23

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln