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Petrobras may need to re-publish Q1 results due to accounting issue SAO PAULO: Brazil's state-run oil company Petroleo Brasileiro SA could be forced to re-publish first-quarter results after it included a contract completed after the reporting period, the president of Brazil's markets regulator said on Wednesday. Petrobras, as the company is known, included 1.3 billion reais ($433 million) on its balance sheet related to a contract with state-run utilities company Eletrobras that was only closed on May 7, 37 days after the end of the first quarter. Leonardo Pereira, president of markets regulator CVM, said a decision would be made based on guidance from the Accounting Pronouncements Committee (CPC), an independent body which lays out norms for reporting practices that are usually adopted by the CVM. "If it is proven that a company has not followed accounting norms of the CPC on this issue, it could be forced to re-publish its results," Pereira told reporters at an event in Sao Paulo.Copyright ...

Oil prices rebound from steep dive LONDON: Oil prices rebounded Wednesday, recovering from recent steep losses in the previous session, in a muted response to news of falling US crude stockpiles.US benchmark West Texas Intermediate (WTI) for delivery in July rose 90 cents to $58.89 a barrel.Brent North Sea crude for July gained 95 cents to stand at $64.94 a barrel in London early afternoon deals."Crude oil showed an overall muted initial reaction to the (US) supply data," analyst Fawad ...

Oil prices rise as US crude stocks fall LONDON: Crude oil prices bounced back on Wednesday from steep falls in the previous session as government data showed that U.S. crude stocks fell last week for the third straight week.U.S. crude inventories fell by 2.67 million barrels to 482.17 million barrels last week, the Energy Information Administration said on Wednesday. Industry group, the American Petroleum Institute (API), had forecast on Tuesday a fall of 5.2 million barrels.Stocks in the key delivery point of Cushing, ...

Oil prices rise on US stock draw, strong Japan data LONDON: Crude oil prices bounced back on Wednesday from steep falls in the previous session as industry data showed that U.S. crude stocks fell more than expected last week.Brent futures rose 85 cents to $64.87 a barrel by 1037 GMT, after touching $65.02 earlier in the session. U.S. crude prices rose 58 cents to $58.57 a barrel, easing back from an intraday high $58.90.On Tuesday oil fell over 3 percent on a dollar rally and ...

Turkmenistan eyes $3bn investment in its Caspian oil, gas in 2015 TURKMENBASHI: Turkmenistan, which owns the world's fourth-largest natural gas reserves, expects foreign companies to invest more than $3 billion in projects on its part of the Caspian Sea shelf this year, a Turkmen government official said on Wednesday.This figure compares to more than $2.5 billion invested in the Turkmen sector of the sea in 2014, Suleymanmurad Guladov, deputy head of the State Agency for Management and Use of Hydrocarbon Resourses, told an international gas congress.Copyright ...

Tokyo stocks rise 0.72pc by break on upbeat Japan GDP TOKYO: Tokyo stocks rose 0.72 percent Wednesday morning on a weaker yen and solid Japanese growth data, but auto parts giant Takata tumbled after a recall of US cars with potentially deadly airbags was widened.The Nikkei 225 index at the Tokyo Stock Exchange climbed 144.13 points to 20,170.51 by the break, while the Topix index of all first-section shares rose 0.53 percent, or 8.61 points, to 1,641.94.Copyright AFP (Agence France-Presse), 2015

Oil prices drop as Saudis keep pumps running LONDON: Oil prices fell on Tuesday as a global supply glut and soft demand overshadowed the impact of geopolitical tensions in the crude-rich Middle East, analysts said.US benchmark West Texas Intermediate (WTI) for delivery in June slid 43 cents to $59 a barrel.Brent North Sea crude for July shed 63 cents to stand at $65.64 a barrel in London afternoon deals."According to official data... Saudi Arabia exported just shy of eight million barrels of crude ...


Index Closing Chg%
Arrow DJIA 17,596.35 1.95
Arrow Nasdaq 4,958.47 2.40
Arrow S&P 2,057.64 2.09
Arrow FTSE 6,620.48 1.97
Arrow DAX 11,083.20 3.56
Arrow CAC-40 4,869.82 3.74
Arrow Nikkei 20,109.95 2.88
Arrow H.Seng 25,966.98 2.61
Arrow Sensex 27,645.15 0.60

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln