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Oil prices sink to multi-month lows on demand concerns NEW YORK: US oil prices plunged more than $3 Tuesday following weak manufacturing data from China and Europe and amid generous supplies around the world.US benchmark West Texas Intermediate for October delivery sank $3.08 to $92.88 a barrel on the New York Mercantile Exchange, its lowest level since January. NYMEX was closed Monday due to the Labor Day holiday in the US.European benchmark Brent oil for October delivery fell $2.45 to $100.34 a barrel. Earlier Tuesday, Brent had gotten as low as $100.17, its lowest level since May 2013.China, the world's second-biggest oil consumer after the US, said on Monday that its official purchasing managers' index (PMI) of manufacturing activity slipped to 51.1 last month, down from 51.7 in July and the first decline since February. A reading above 50 indicates growth, while below that level suggests contraction.In Europe, Markit's PMI of output in the 18-nation eurozone's manufacturing sector fell ...

Pelotas Basin, near Uruguay, in 2015 oil auction: source RIO DE JANEIRO: The Pelotas Basin, just north of Uruguay, is expected to be included in a licensing round for oil exploration blocks in Brazil next year and is likely to be one of the main draws, a source from the national regulator ANP told Reuters on Tuesday. The opening up of this new area could extend a string of large offshore discoveries which already stretch for more than a thousand kilometres from Brazil's state ...
Brent oil sinks to 15-month low NEW YORK: Brent crude oil futures fell to the lowest level in 15 months on Tuesday, pressured by the prospect of slowing oil demand growth in China and Europe, while a strong dollar and ample supplies pressured US prices. Oil prices on both sides of the Atlantic have been in steady decline since the end of June as concerns faded over supply disruptions from Iraq, Libya and Russia. Continued supply from key producing regions and ...
EU carbon prices edge higher as buyers return LONDON: European carbon prices edged higher on Monday after buyers returned to the market following a quiet August to absorb an increase in supply from government auctions of carbon permits.Front-year EU Allowance (EUA) futures closed at 6.42 euros, up 1 cent on Friday's settlement, having touched a three-day low of 6.26 euros per tonne earlier in the session."There was some selling this morning. After the auction we hit 6.26 euros but there was decent support ...
Oil train regulation passes in California SANFRANCISO: California lawmakers passed legislation requiring railroad companies to tell emergency officials when crude oil trains will chug through the state.The bill would require railroads to notify the state's Office of Emergency Services when trains carrying crude oil from Canada and North Dakota are headed to refineries in the most populous US state.It passed its final vote in the Assembly 61-1, with strong bipartisan support in the state legislature in Sacramento. The bill now goes ...
Oil prices rise on positive US data, Ukraine crisis NEW YORK: Global oil prices rose Friday as solid data lifted prospects for demand in the United States and tensions escalated between Ukraine and major energy producer Russia.US benchmark West Texas Intermediate for October delivery pushed higher for the fourth straight day, leaping $1.41 to $95.96 a barrel.Brent North Sea crude for October added 73 cents to settle at $103.19 a barrel in London trade.Despite the gains, oil prices finished lower for the month, with ...
Shell files new plan to drill in Arctic NEW YORK: Royal Dutch Shell has submitted a new plan for drilling in the Arctic offshore Alaska, more than one year after halting its program following several embarrassing mishaps.The plan to drill two new wells in the potentially oil-rich but environmentally sensitive region in the summer of 2015 is not a final decision, the company stressed."If we drill in 2015, the program will consist of two drilling rigs working simultaneously at Shell's Burger prospect in ...


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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