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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 ...

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 ...
Oil up 3pc on weak dollar, speculative buying, Yemen NEW YORK: Oil settled up about 3 percent on Wednesday as a weak dollar, fighting in Yemen and speculative buying boosted crude prices in spite of US inventories building to record highs for an 11th week. The dollar fell after disappointing US durable goods orders for February. A weaker dollar makes commodities denominated in the greenback cheaper for holders of other currencies, typically boosting demand for such raw materials. The dollar also fell against the ...
Shell plans turnaround at Scotford, Alberta, upgrader in spring 2015 CALGARY: Royal Dutch Shell Plc will carry out a planned turnaround at its 255,000 barrel per day Scotford upgrader in northern Alberta during spring of this year, a company spokesman said on Wednesday. Shell spokesman Cameron Yost said the turnaround was an activity that took place every four to five years. "We do have a turnaround this year. It's not small-scale maintenance," Yost said, although he declined to give details of how much production would ...
Oil gains on weaker dollar, though US storage build limits rise NEW YORK: Oil prices rose on Wednesday, tracking a weaker dollar despite U.S. government data showing a higher-than-expected build in crude inventories last week.Benchmark Brent and U.S. crude oil were both up about half a percent, although the upside was capped by the bearish report on U.S. crude stockpiles.Crude inventories rose by 8.2 million barrels last week, the U.S. Energy Information Administration said, above analysts' calls for a 5.1-million build. It was the 11th straight ...
Brent slides, US crude flat on resilient dollar NEW YORK: Brent crude oil fell on Tuesday as the dollar regained its footing against the euro and fears of global oversupply persisted, while U.S. crude's losses were limited by strong domestic economic data.The fall in Brent came after the dollar reversed early losses to rise 0.4 percent against the euro, making dollar-priced commodities more expensive in the euro zone.Brent futures for May delivery fell 80 cents to trade at $55.10 at 11:43 EDT (1643 ...

 



 
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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