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Oil price recovers as dollar weakens against euro LONDON: Oil prices steadied above $48 a barrel on Tuesday, recovering from earlier losses as the dollar weakened against the euro.Brent crude oil futures rose 22 cents to $48.38 a barrel by 1042 GMT.U.S. West Texas Intermediate (WTI) crude futures rose 10 cents to $45.25 a barrel.The euro rose for a second day against the dollar after an 11-year low on Monday, ahead of a meeting of the Federal Reserve that may push back expectations for when U.S. interest rates will start to rise.Prices were also supported after the Secretary-General of the Organization of the Petroleum Exporting Countries, Abdullah al-Badri, said oil prices may have bottomed out and warned of a jump to $200 a barrel if investment in new supplies was too low.Michael Hewson, chief market analyst at CMC Markets, said that the effect of the weakened dollar and the residual effect of Badri's comments was temporary."I certainly don't ...

China 2014 natural gas demand up 5.6pc at 178.6 bcm BEIJING: China's apparent demand for natural gas grew by 5.6 percent last year to 178.6 billion cubic metres (bcm), less than half the speed of the growth rate in 2013, China's top economic planner said on Tuesday.That also compares with an average annual growth rate of 11.7 percent between 1995 and 2009, according to the Energy Research Institute at the central planner, the National Development and Reform Commission (NDRC).Apparent demand rose 12.9 percent in 2013 ...

Norway's Snoehvit LNG plant shut due to gas alarm OSLO: Production at Norway's Snoehvit liquefied natural gas (LNG) plant was stopped on Tuesday due to a gas leak and the duration of the outage was unknown, operator Statoil said."The production at the plant has been stopped and we don't know when it can be restarted again," Statoil's spokesman Oerjan Heradstveit said. The gas alarm has triggered evacuation of workers from the affected areas at Europe's only LNG plant, the Norwegian police said earlier.Copyright Reuters, ...

US to include offshore Atlantic in new drilling plan WASHINGTON: The Obama administration will propose a new five-year plan for offshore oil and gas drilling as soon as Tuesday that will include areas of the Atlantic, the Wall Street Journal reported.The Interior Department's offshore drilling proposal for 2017 to 2022 is expected to include opening up federally-owned waters off Virginia and North and South Carolina, the report said citing people familiar with the plan.A spokeswoman for the Department of Interior would not comment on ...

Oil price 'too low': Saudi Aramco chief RIYADH: World oil prices have fallen too far, the president of state-owned energy giant Saudi Aramco said Tuesday, stressing it was for the market not OPEC producers to shore them up."It's too low for everybody," Khalid al-Falih told a conference."I think even consumers start to suffer in the long term."Falih also said American shale oil production is important for the world's long-term energy future and Saudi Aramco has marked an additional $7 billion for its ...

Back-loaded benefits of oil price fall on the way NEW YORK: Economies and investors, having suffered the pain of the tumble in energy prices, may soon start to see more of the benefits.While markets were quick to price in the negative effects of falling oil prices on producing countries and companies alike, the benefits, both to consumers and economies as a whole, take longer to arrive.Brent crude oil prices have tumbled nearly 60 percent since June to below $50 per barrel, claiming several high-profile ...

Oil prices rebound in Asian trade SINGAPORE: Oil prices on Tuesday edged up slightly after nearing six-year lows but gains were capped owing to lingering concern about a global supply glut, weak demand and Greece's political future, analysts said. US benchmark West Texas Intermediate (WTI) for March delivery gained 10 cents to $45.25 while Brent crude for March rose 14 cents to $48.30 in late-morning trade. WTI on Monday fell 44 cents to $45.15 and Brent slipped 63 cents to $48.16 ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln