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Oil tumbles again before OPEC; worry over spiking European yields NEW YORK: Crude prices tumbled almost 3 percent for a second day on Thursday ahead of an OPEC decision likely to keep the market oversupplied and on worry rising European bond yields could tighten the speculative money swirling in oil. The Organization of the Petroleum Exporting Countries, meeting in Vienna, is expected to affirm on Friday an output target of 30 million barrels per day, ignoring calls from some producers to cut supply and support prices. OPEC actually produces about 2 million bpd above that. Traders will also be looking out for Friday's US jobs data for May and the latest weekly reading on oil rigs in the United States. Stronger jobs data could send the dollar higher, hurting overseas demand for dollar-denominated commodities, including oil. A slowing in the US oil rig decline could mean higher future output, another bearish factor. In Thursday's trade, 10-year German Bund yields, the ...


Oil steadies ahead of OPEC meeting LONDON: Oil prices steadied on Thursday as a weaker dollar offset worries over a global supply glut ahead of a meeting of OPEC oil producers.The Organization of the Petroleum Exporting Countries (OPEC) is widely expected on Friday to keep a group output target of 30 million barrels per day (bpd), despite calls from some producers to cut supply to support prices.The cartel is now pumping about 2 million bpd more than needed, analysts say, feeding ...

Oil down 3pc despite US stockpile drop; pre-OPEC mood glum NEW YORK: Oil fell nearly 3 percent on Wednesday as traders and investors ignored a fifth straight weekly decline in US crude stockpiles to focus instead on a big build in distillates, including diesel, as the peak season for US road travel gets under way. Glum sentiment ahead of Friday's meeting of the Organization of the Petroleum Exporting Countries also weighed on the market. OPEC, which pumps more than a third of the world's oil, ...

Oil up ahead of OPEC meeting as dollar slips LONDON: Oil prices rose on Tuesday in response to a weaker dollar and expectations that OPEC producers will maintain their group production target at its current level and resist pressure for an increase.The dollar fell against the euro and a basket of currencies, making oil cheaper for consumers in Europe and also for holders of other currencies.Brent crude oil for July was up 40 cents at $65.28 a barrel by 1030 GMT. U.S. crude was ...

Japan shares head for record rally, dollar extends gains HONG KONG: Japanese shares rose for a 13th session Tuesday, equalling a record rally, thanks to the weak yen, while Greece's creditors held impromptu talks aimed at resolving the country's months-long debt reform crisis.Mainland Chinese shares also picked up, adding to the previous day's surge and helping to almost wipe out a near seven percent slump over Thursday and Friday.Tokyo rose 0.12 percent -- marking its best run of gains since 1988 -- while Shanghai ...

Oil prices drop ahead of OPEC meeting NEW YORK: Oil prices dipped Monday as the dollar strengthened and the market looked ahead to an OPEC meeting expected to keep output high.US benchmark West Texas Intermediate for July delivery shed 10 cents to $60.20 a barrel on the New York Mercantile Exchange. European benchmark Brent oil for delivery in July lost 68 cents at $64.88 a barrel in London.Analysts noted that Monday's drop was small compared with Friday's move, when crude bolted more ...

Oil drops on high OPEC output, firmer dollar NEW YORK: Oil settled down as much as 1 percent on Monday, retreating from Friday's sharp rally on a strong dollar and concern over stubbornly high supplies as OPEC was expected to stick with robust production at its meeting this week. The Organization of the Petroleum Exporting Countries pumped a 2-1/2 year high of 31.22 million barrels of oil per day (bpd) in May, a Reuters monthly survey showed. The boost put OPEC production further ...


 



 
Index Closing Chg%
Arrow DJIA 17,776.91 0.53
Arrow Nasdaq 4,997.46 0.11
Arrow S&P 2,081.34 0.61
Arrow FTSE 6,432.21 1.58
Arrow DAX 10,676.78 1.96
Arrow CAC-40 4,604.64 2.27
Arrow Nikkei 20,376.59 1.31
Arrow H.Seng 24,975.31 1.03
Arrow Sensex 28,171.69 0.13





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln