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Repsol close to buying Talisman Energy MADRID: Spanish oil major Repsol is close to buying Canada's fifth-largest independent petroleum producer, Talisman Energy, a source with knowledge of the matter said on Monday. The source, speaking on condition of anonymity, said the board of Repsol had approved making an offer for the Canadian company, and Talisman's board was now meeting to review it.Spanish daily El Pais said the bid could be worth around 10 billion euros ($12.44 billion), including debt worth $4.3 billion. That would represent a more than 50 percent premium on Talisman's market value of $5.33 billion. Talisman confirmed on Monday that it was engaged in discussions with Repsol regarding a potential corporate transaction. Repsol declined to comment.A drop in oil prices has lowered valuations for producers like Talisman, spurring interest from Repsol which has been on the search for oil and gas targets in North America or other countries with stable regulation. By acquiring ...

Rouble jumps on Russia rate hike, oil pressured TOKYO: Oil prices continued to slide on Tuesday, while the rouble jumped against the dollar after Russia sharply hiked its benchmark interest rate to halt a collapse in its currency. The dour mood kept equities down in Asia, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.1 percent in early trade. The Russian central bank raised its key interest rate to 17 percent from 10.5 percent, in a move it said was aimed ...

Oil falls anew as OPEC emergency meet, output cut ruled out NEW YORK: Crude prices came under renewed selling pressure Monday after OPEC said it would not cut oil output despite fears of a glut, and a UAE official opposed holding an emergency meeting of the producer group to fix prices. Benchmark Brent oil fell to nearly $60 a barrel while US crude appeared to have $55 as its next major test, extending last week's rout that wiped out about $8, or more than 10 percent, ...

Oil prices sink further in Asian trade SINGAPORE: Oil prices sank further to new multi-year lows in Asia Tuesday, with analysts weighing the possible political and economic fallout in oil-producing countries with little respite in the selling. US benchmark West Texas Intermediate for January delivery fell 24 cents to $55.67 while Brent crude for January eased 22 cents to $60.84 in mid-morning trade -- both contracts at levels not seen since mid-2009.WTI tumbled $1.90 Monday and Brent dipped 79 cents.Crude prices have ...

Oil hits five-year low before rallying above $62 LONDON: Brent crude oil hit a fresh five-year low close to $60 a barrel on Monday after producer group OPEC restated its determination not to cut output despite a global fuel glut, but the North Sea benchmark later rallied to above $62.Market momentum appeared to be downwards, with analysts saying oil could plumb new depths before a sustained recovery.Oil prices have collapsed over the last six months as high-quality, light crude from North America has ...

Oil rebounds from new five-year lows, boosting stocks LONDON: World oil prices rebounded slightly Monday from fresh five-year lows amid stubborn worries over weak global crude demand, boosting European stock markets.Investors in Japan shrugged off Prime Minister Shinzo Abe's decisive re-election and focused instead on the weak economy.In midday London deals, Brent North Sea crude for delivery in January was up 26 cents at $58.07 a barrel, after earlier slumping to $56.25 -- the lowest level since May 18, 2009.US benchmark West Texas ...

Brent edges up to $62.35 after earlier crash in volatile trade SINGAPORE: Oil markets saw volatile trading in Asia on Monday as Brent prices first fell to a 5-1/2 year low after the International Energy Agency (IEA) cut its outlook and then rose on hopes of improving manufacturing data.Brent futures fell to near $60 per barrel after the IEA forecast further price falls and OPEC's chief on Sunday defended the group's decision not to cut its output target, and although prices picked up later in volatile ...


Index Closing Chg%
Arrow DJIA 17,959.44 0.87
Arrow Nasdaq 4,781.43 0.34
Arrow S&P 2,078.54 0.38
Arrow FTSE 6,576.74 0.48
Arrow DAX 9,865.76 0.81
Arrow CAC-40 4,254.43 0.30
Arrow Nikkei 17,635.14 0.08
Arrow H.Seng 23,408.57 1.26
Arrow Sensex 27,701.79 1.21

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyDecember 22, 2014
Reserves $14.042 bln