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Sinopec Q2 earnings rise 36pc, beat forecast HONG KONG: Sinopec Corp, Asia's largest refiner, posted a 36 percent rise in second-quarter profit, beating forecasts, as a strong improvement at its refining business more than offset a weakening chemicals division. It posted a net profit of 18.44 billion yuan ($3.0 billion) for the April-June period versus 13.58 billion a year earlier, under international accounting standards, it said in a filing with the Shanghai bourse. The result topped with an average forecast of 16.03 billion yuan by six analysts polled by Thomson Reuters. The state-run oil company, which has vowed to put more emphasis on investment quality and efficiency than expansion, unveiled a plan early this year to sell up to 30 percent of its fuel retailing business. Analysts expect it to raise around $20 billion from the sale. Sinopec has also said it would cut capital expenditure by 4 percent to 162 billion yuan in 2014 from a ...


Oil prices fall LONDON: Oil prices fell on Friday amid downbeat Chinese manufacturing data and the low likelihood of supply disruptions in conflict-hit Iraq, Ukraine and Libya, analysts said.US benchmark West Texas Intermediate for October delivery slid 41 cents to $93.55 a barrel.Brent North Sea crude for October dropped 27 cents to stand at $102.36 a barrel in London deals. Trading is "likely weighed by weaker-than-expected Chinese manufacturing data", Fat Prophets resources analyst David Lennox told AFP.The HSBC ...

Taiwan stocks rise following overseas markets; July jobless rate improves TAIPEI: Taiwan stocks gained slightly on Friday, following cues from overseas markets.As of 0125 GMT, the main TAIEX index had gained 65.83 points to 9,319.21, after closing lower 0.37 percent on Thursday.The electronics subindex was up 0.6 percent.Earlier on Friday, Taiwan's statistics agency reported the island's jobless rate improved in July to 3.95 percent on a seasonally adjusted basis from 3.97 percent in June. July's rate was the lowest since June 2008 when the jobless ...

Russia's Rosneft to buy into Norway oil driller despite sanctions MOSCOW/OSLO: Russia's top crude oil producer Rosneft will sell drilling rigs to Norway's North Atlantic Drilling Ltd (NADL) in return for shares in the firm, going ahead with an earlier agreed deal despite sanctions over Ukraine. Rosneft and its head Igor Sechin, a long-standing ally of Russian President Vladimir Putin, have been sanctioned by the West over Moscow's role in the Ukraine crisis, limiting the firm's access to international financial markets. Earlier this month, Norway ...

Brent weakens below $103 on rising supply, strong dollar LONDON: Brent crude oil futures drifted lower on Friday, further below $103 a barrel, as a strong dollar and plentiful supplies continued to pressure prices. October Brent crude was down 13 cents to $102.50 a barrel by 1122 GMT. US crude was down 26 cents at $93.70 a barrel. Traders and analysts said the market appeared to be pausing after hefty sell offs which have driven Brent to its lowest level since June 2013. "We've ...

Oil prices higher in Asian trade SINGAPORE: Oil prices rose in Asia Friday but gains were capped by downbeat Chinese manufacturing data and the low likelihood of supply disruptions in conflict-hit Iraq, Ukraine and Libya, analysts said.US benchmark West Texas Intermediate for October delivery added six cents to $94.02 while Brent crude for October gained five cents to $102.68 in afternoon trade. Trading is "likely weighed by weaker-than-expected Chinese manufacturing data released yesterday," David Lennox, resource analyst at Fat Prophets in ...

Oil prices down in Asian trade SINGAPORE: Oil prices edged lower in Asia Friday as dealers digested downbeat Chinese manufacturing data and tracked the ebbing likelihood of supply disruptions in conflict-hit Iraq, Ukraine and Libya, analysts said. US benchmark West Texas Intermediate for October delivery dipped 11 cents to $93.85 while Brent crude for October was down 10 cents to $102.53 in mid-morning trade. "Oil prices have moved lower in Asia-Pacific trading likely weighed by weaker-than-expected Chinese manufacturing data released yesterday," ...


 



 
Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,819.75 0.20
Arrow DAX 9,470.17 0.08
Arrow CAC-40 4,381.04 0.34
Arrow Nikkei 15,424.59 0.23
Arrow H.Seng 24,742.06 0.01
Arrow Sensex 26,638.11 0.29





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln