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Brent hits four-year low after OPEC, dollar gains NEW YORK: Brent crude touched fresh four-year lows on Friday, knocking down both energy-related shares and currencies after OPEC's decision a day earlier not to cut output reinforced prospects of an oil supply glut around the world. The dollar mostly strengthened following the decision by the Organization of Petroleum Exporting Countries on Thursday, a move that slammed commodity currencies like the Norwegian crown, which fell to five-year lows against the greenback and the euro. Euro zone government bond yields held near record lows as the falling energy prices pulled down consumer price growth across the bloc and raised the chances of more stimulus from the European Central Bank on increased deflation fears. European shares snapped a five-day winning streak and the S&P 500 slipped from record highs as the price of energy shares fell across the board on both sides of the Atlantic. But other equity sectors rose, lifting the ...

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 ...
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 ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln