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Brent above $80 as Saudis holds talks ahead of Thursday OPEC NEW YORK: Oil prices rose on Tuesday, with Brent crude above $80 per barrel, after news that Saudi Arabian Oil Minister Ali al-Naimi was meeting with his Russian, Venezuelan and Mexican counterparts ahead on an OPEC meeting that could cut output.Oil ministers from OPEC member countries will hold a summit in Vienna on Thursday amid a drop of roughly 30 percent in oil prices since June.Tuesday's talks with al-Naimi was also attended by Russia's most powerful oil official, Igor Sechin, who is head of state oil company Rosneft, sources told Reuters.Russia, a non-OPEC member, is pressuring OPEC to slash production, and has offered to give up 300,000 barrels per day of its own output. OPEC heavyweight Saudi Arabia has not said so far if it will agree to any cuts."They can meet and talk but the question is whether the Saudis will sign off on anything they propose," said Gene ...

Brazil's Petrobras overpaid up to $1.2bn in kickback transactions BRASILIA: Petrobras may have overpaid as much as 1.2 billion dollars in transactions being investigated for potential kickbacks, Brazil's national accounting office said Tuesday.The alleged graft issue at the state oil giant and elsewhere was used against President Dilma Rousseff in her reelection campaign but did not stop her from winning -- while promising she would fight corruption harder.Voters did not blame Rousseff -- who was on Petrobras' board at the time -- in two ...
ExxonMobil earnings edge up on strong refining results NEW YORK: US energy giant ExxonMobil reported slightly higher third-quarter earnings on Friday as better results in refining and chemicals offset lower profits from exploration and production.The largest US publicly-traded oil company, Exxon reported net income of $8.1 billion, up 2.5 percent from the same period a year ago.Earnings from the upstream division, which finds and produces oil and gas, fell $297 million to $6.4 billion as oil-equivalent production dropped 4.7 percent from last year.The ...
Oil price declines have small-cap shale investors scrambling NEW YORK: Plummeting oil prices are pushing some of the small-cap companies which flourished as part of the US shale energy boom close to their breaking point, while also prompting some well-known fund managers to aggressively buy energy stocks. Concerns about slowing growth in Europe and a stronger dollar have helped push the price of light crude oil down about 25 percent since June to about $82 a barrel, creeping closer to the average marginal ...
Oil rises after 2-day loss; US inventories seen up again NEW YORK: Crude oil prices closed higher on Tuesday, with Brent finishing just above $86 a barrel after two straight days of losses, helped by a weaker dollar and a rally on Wall Street. But worries about a third weekly build in a row in US crude inventories capped gains. Crude stockpiles in the United States were forecast to have risen 3.4 million barrels in the week to Oct. 24, while inventories of distillates and ...
Wall St ends flat, but energy shares lower NEW YORK: US stocks ended near flat on Monday, pausing after the S&P 500's biggest weekly gain since January 2013, while energy shares fell with another decline in oil prices. The Dow Jones industrial average rose 11.05 points, or 0.07 percent, to 16,816.46, the S&P 500 lost 3.06 points, or 0.16 percent, to 1,961.52 and the Nasdaq Composite added 2.22 points, or 0.05 percent, to 4,485.93. Copyright Reuters, 2014 ...
Oil, weak German data drag on stocks; Brazil sinks NEW YORK: Global equity markets slipped on Monday, hit by weak German business sentiment and another decline in oil, while Brazil slumped after incumbent Dilma Rousseff narrowly won a second term over an opponent seen as more pro-business. Major indexes on Wall Street ended mixed.The benchmark S&P 500 closed slightly lower after last week's big gains, hurt by another drop in energy shares as oil neared a four-year low. Disappointing data showing the pace of ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln