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Sete Brasil signs memorandum suspending debt for 90 days SAO PAULO: Brazilian oil rig producer Sete Brasil Participa??es SA said on Monday it signed a memorandum of understanding with its main creditors on March 31 that will suspend debt collection rights for 90 days. Earlier on Monday, Luiz Carlos Trabuco, chief executive officer of Brazilian private-sector lender Banco Bradesco SA, said the rig maker and commercial banks were in advanced talks over the size, maturity and scope of a new bridge loan. Sete Brasil faces 11 billion reais ($3.5 billion) in debt repayments this month.Copyright Reuters, 2015 ...

Greenpeace boards oil rig, Shell slams 'stunt' LOS ANGELES: Greenpeace activists have boarded an Arctic-bound Shell oil rig in the middle of the Pacific Ocean, the environmental group and oil giant said Monday.Shell denounced the action as a "stunt" and said it would not deflect it from its Arctic oil exploration plans.The six activists planned to camp on the 38,000-tonne Polar Pioneer platform, which they boarded 750 miles northwest of Hawaii using inflatable boats from the Greenpeace vessel "Esperanza."The six -- from ...
Oil falls nearly 4pc after tentative nuclear deal for Iran NEW YORK: Brent oil fell nearly 4 percent on Thursday after a preliminary pact between Iran and global powers on Tehran's nuclear program, even as officials set further talks in June and analysts questioned when the OPEC member will be allowed to export more crude. Traders had been fixated on the talks held in Lausanne, Switzerland for over a week as Iran tried to agree with six world powers on concessions to its nuclear program ...
Oil tumbles anew as press event called at Iran nuclear talks NEW YORK: Oil prices fell as much as 4 percent on Thursday after global powers negotiating a nuclear deal with Iran called for a news conference after more than a week of talks in Switzerland.A nuclear pact for Tehran could remove Western sanctions on the OPEC nation's oil exports, bringing millions of additional Iranian crude barrels onto a market already brimming with supply.A European representative told reporters there will be a press event on Iran's ...
Oil jumps after US output drop as Iran talks drag NEW YORK: Oil jumped as much as 5 percent on Wednesday, snapping a three-session losing streak, as US crude output fell for the first time in two months and the government announced a smaller-than-feared rise in weekly stockpiles.The market's focus on Iran nuclear talks, which had depressed prices since Friday, also shifted as the dollar eased. A weaker dollar makes commodities denominated in the greenback, such as oil, more attractive to holders of other currencies.Crude ...
Oil down as Iran deal eyed; US crude in for best week in 4 years NEW YORK: Oil prices fell on Friday as fears about the disruption of Middle East crude shipments from Yemen's conflict eased and the focus turned to the likelihood of an Iranian nuclear deal by next week that could put more supply on the market. But prices were still headed for their second straight week of gains. US crude was on track for its best week since 2011, reflecting the ground made by market bulls from ...
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. ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln