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China to prioritise natural gas for home use, public transport BEIJING: China will continue to prioritise natural gas supplies for residential users and public transport in 2015 as rapid growth in consumer demand has resulted in shortages in the market, the country's powerful state planning commission said on Monday. High seasonal demand during winter months can strain Chinese natural gas supplies, causing shortages of the kind that forced regulators to cut supplies to industrial users in late 2013.Despite an increase in domestic natural gas output and rising imports of the fuel, "because of the quick growth of consumer demand, weak demand management and insufficient storage capacity ... in some areas, gas for residential and other uses by the public still is affected," the National Development and Reform Commission said in a statement on its website.In November, an environment ministry official said China would keep a ban on the construction of new gas-fired power plants to conserve supplies needed to replace ...


Oil prices edge lower in Asian trade SINGAPORE: Oil prices edged lower in Asia on Monday as a rally late last week fizzled out, owing to lingering concerns about weak demand and a global supply glut, analysts said.US benchmark West Texas Intermediate (WTI) for delivery in February eased 37 cents to $48.32 in afternoon trade and Brent crude for March fell 37 cents to $49.80.Prices rebounded Friday after the International Energy Agency said there were signs "the tide will turn" in the ...

Oil prices edge lower in Asian trade SINGAPORE: Oil prices edged lower in Asia Monday as a rally late last week fizzled out owing to lingering concerns about weak demand and a global supply glut, analysts said.US benchmark West Texas Intermediate (WTI) for delivery in February eased three cents to $48.66 in late-morning trade and Brent crude for March fell 41 cents to $49.76.Prices rebounded Friday after the International Energy Agency said there were signs "the tide will turn" in the battered ...

Oil slump slashes Saudi Basic Industries Q4 profit 29pc DUBAI: Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, reported a 29 percent plunge in fourth-quarter net income on Sunday, widely missing analysts' forecasts because of the tumble of global oil prices.Chief executive Mohamed al-Mady told reporters his company's outlook for 2015 depended on oil prices and was therefore unpredictable, but that SABIC faced challenges early in the year. Oil, which is closely tied to petrochemical product prices, has tumbled more ...

Oil price slump could cripple clean energy push: experts    ABU DHABI: Falling oil prices could have a negative impact on global efforts to develop renewable energy sources, experts warned Saturday at a conference in Abu Dhabi.Oil prices have fallen by almost 60 percent since June, crashing on worries over global oversupply and weak demand in a faltering world economy.Participants at the International Renewable Energy Agency (IRENA) conference that opened Saturday in the United Arab Emirates said the trend could spell doom for plans to ...

Oil market rebounds, lifted by IEA report NEW YORK: World oil prices rebounded Friday after the International Energy Agency declared there were signs "the tide will turn" in the battered market following recent multi-year lows.The US benchmark futures contract, West Texas Intermediate for February, advanced $2.44 to close at $48.69 a barrel on the New York Stock Exchange.Brent North Sea crude for delivery in March, the European benchmark, settled at $50.17 a barrel in London trade, up $2.50 from Thursday's closing level."The ...

Gazprom trading unit moving to Russia from London MOSCOW/MILAN: Gazprom's energy trading unit Gazprom Marketing and Trading is moving to St Petersburg from London, Russian news agency Interfax cited sources as saying on Friday. Sources at the Gazprom unit could not immediately confirm the move to Reuters, while a spokesman for the trading venture declined to comment. One source briefed by a member of the Gazprom trading team said sanctions placed on Russia by the West over the course of the past year ...


 



 
Index Closing Chg%
Arrow DJIA 17,678.70 0.03
Arrow Nasdaq 4,771.76 0.29
Arrow S&P 2,057.09 0.26
Arrow FTSE 6,852.40 0.29
Arrow DAX 10,798.33 1.40
Arrow CAC-40 4,675.13 0.74
Arrow Nikkei 17,468.52 0.25
Arrow H.Seng 24,909.90 0.24
Arrow Sensex 29,278.84 0.94






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln