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Oil dives 5pc as worries about Iran talks trump Yemen NEW YORK: Oil tumbled 5 percent on Friday, erasing the previous session's gains, as Yemen's conflict looked less likely to disrupt Middle East crude shipments and investors turned their focus to talks for a potential Iran nuclear deal that could put more supply on the market. Oil prices still notched their second straight weekly gain, boosted by the dollar's weakness in recent sessions. US crude had its biggest weekly gain in more than a month. US crude and global benchmark Brent oil spent most of the session in a tight range, down about 2 percent. But they fell sharply in late trading. Brent settled down $2.78 at $56.41 a barrel. US crude settled $2.56 lower at $48.87.Both fell further after the market settled. On Thursday, oil jumped 5 percent on fears that the conflict in Yemen could disrupt cargoes on the neighboring Bab el-Mandeb Strait, where 3.8 million bpd of ...

CNOOC 2014 profit rises despite 'blow' from oil price slump HONG KONG: Chinese state-owned energy giant CNOOC on Friday said profit climbed over six percent last year as it started a spate of new projects, despite taking a "serious blow" from falling oil prices.The forecast-beating profit rise came after rivals Sinopec and PetroChina both said their profits dived last year as crude prices more than halved between June and January.China's largest offshore oil and gas producer reported net profit of 60.20 billion yuan ($9.68 billion) ...

Oil drops after Yemen-inspired gains LONDON: Oil prices fell Friday after spiking the previous day as Saudi Arabian jets struck rebel targets in Yemen, sparking supply fears in the crude-rich Middle East.Brent North Sea crude for delivery in May sank 63 cents to $58.56 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for May slid 81 cents to $50.62 a barrel."Oil prices ... are shedding some of the strong gains they had achieved over the two previous ...

Oil prices in Asia slip after recent gains SINGAPORE: Oil prices fell in Asia Friday, cutting short a rally as investors weighed the potential for disruptions in Middle East supplies caused by the Yemen crisis and a global crude glut, analysts said.US benchmark West Texas Intermediate for May delivery fell 83 cents to $50.60 and Brent crude for May eased 75 cents to $58.44 in late-morning trade.Prices rose sharply over the past two days after a Saudi Arabia-led coalition bombed Huthi Shiite rebels ...

West Africa Crude-Angolan offers reduced, Nigerian lingers LONDON: Angolan crude oil for May loading was on offer at lower levels on Thursday after previous asking prices did not tempt many buyers, traders said on Thursday. Following what traders said was a slow start to trading, state oil company Sonangol trimmed offers by around 25 cents a barrel for most grades, one trader said. Angolan crude oil loadings look more ample in May according to the latest loading programmes which appeared this week, ...

Gold pares gains after Yemen air strikes rattle markets NEW YORK/LONDON: Gold pared gains after hitting a 3-1/2-week high on Thursday, after a knee-jerk reaction to escalating tensions in the Middle East knocked stocks and drove investors into assets viewed as lower-risk, such as bullion and German bonds. Silver rose nearly 3 percent to the highest level in more than five weeks before coming off its highs.Stock markets worldwide were knocked lower and oil prices jumped after Saudi Arabia and its allies conducted air ...

Talk of biotech bubble rattles Wall Street NEW YORK: The biotech sector is at the top of Wall Street's worry list as analysts debate whether high-flying pharma stocks are a bubble that is about to burst. Trade in biotech stocks was mixed Thursday as US stocks clawed back near even after early losses. Biotech was a key factor in the market's rout Wednesday, which included a 2.4 percent drop in Nasdaq.Biotech stocks have been among the market's hottest investment over the last ...


Index Closing Chg%
Arrow DJIA 17,826.30 1.54
Arrow Nasdaq 4,931.82 1.52
Arrow S&P 2,081.18 1.13
Arrow FTSE 6,994.60 0.93
Arrow DAX 11,688.70 2.58
Arrow CAC-40 5,143.26 1.55
Arrow Nikkei 19,652.88 1.17
Arrow H.Seng 27,653.12 0.31
Arrow Sensex 28,442.10 0.78

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln