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China's Sinopec sets eyes on Europe with 2nd jet fuel shipment SINGAPORE: China's Sinopec Corp is shipping its second ever jet fuel cargo to Europe, once considered a rare trade route, as the refiner looks to expand its global market share with demand lagging output levels at home, industry sources said. The world's No. 2 refiner shipped out 90,000 tonnes of jet fuel to Europe in late June, said two sources, who did not want to be named because of rules on talking to media. Shipping fixtures show a vessel, SKS Donggang, was chartered by trader Noble and loaded with jet fuel from Yangpu in south China around the same time.SKS is near Madagascar now and moving towards Le Havre, France, according to shiptracking data on Reuters. Sinopec could not be immediately reached for a comment.The company's first jet fuel shipment to Europe was in May, which the refiner had said was of great significance in terms of expanding jet fuel ...


Nigeria to export around 1.89mn bpd oil in Sept LONDON: Nigeria is set to export around 1.89 million barrels per day of crude oil in September, a provisional shipping list showed on Friday. This was down from 1.94 million bpd in August, the highest total since January. Exports of the benchmark Qua Iboe grade were set to fall to 348,000 bpd in September from 368,000 bpd in August, their lowest since June. Copyright Reuters, 2015

Brent crude nears 4-month low as China factories contract, dollar firms LONDON: Oil prices hovered near four-month lows on Friday after data showed a contraction in China's factory sector and the dollar rose against a basket of currencies. Activity in China's manufacturing sector shrank at the fastest pace in 15 months in July, according to a preliminary private purchasing managers' survey. "Concerns around the demand environment were heightened further today by the PMI (Purchasing Managers' Index) read out of China," said Michael McCarthy, chief market strategist ...

Oil prices steady; WTI stuck below $50 LONDON: Oil prices were narrowly mixed Thursday, with New York prices stuck below $50 after a rise in US crude stockpiles added to concerns over a supply glut, analysts said.Brent North Sea crude for delivery in September fell 13 cents to stand at $56 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for September was up nine cents at $49.28 a barrel -- after closing Wednesday below $50 for the first time ...

TSX drops sharply shortly after open as oil, resources drag TORONTO: Canada's main stock index tumbled shortly after the open on Wednesday, falling as much as 1 percent, as heavily weighted energy and resource stocks tracked weaker commodity prices and led losses.The Toronto Stock Exchange's S&P/TSX composite index was down 116.22 points, or 0.81 percent, at 14,260.02, after falling as low as 14,231.10. Eight of the index's 10 main sectors lost ground. Copyright Reuters, 2015

UAE to scrap fuel subsidies from August DUBAI: Leading oil producer the United Arab Emirates will scrap subsidies on petrol and diesel from August to cut spending as low crude prices hit revenues, the energy ministry said Wednesday.Pump prices for the two fuels will now be set on the basis of world prices and adjusted each month, the ministry said in a statement carried by the official WAM news agency.The move is expected to save billions of dollars a year.The International Monetary ...

Oil prices rebound slightly after ducking under $50 LONDON: World oil prices ducked briefly under $50 per barrel on Tuesday, before staging a modest rebound on the eve of the latest snapshot of US crude inventories.US benchmark West Texas Intermediate for delivery in August sank in early morning deals to a 3.5-month low of $49.77, hit by dollar strength and expectations of more Iranian crude in an oversupplied global market.However, the WTI contract then rebounded to stand at $50.43, up 28 cents from ...


 



 
Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61





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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln