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Oil prices down in thin pre-holiday trade SINGAPORE: Crude edged lower in thin pre-holiday trade Wednesday ahead of the release of a key US supply report, as analysts predicted a rebound in prices in the new year after shedding nearly 50 percent since June. US benchmark West Texas Intermediate for February delivery fell 38 cents to $53.74 while Brent crude for February eased 49 cents to $57.41 in mid-morning trade. Trading volumes were thin with many dealers away ahead of the New Year's Day holiday on Thursday. Financial markets in Japan, Indonesia, the Philippines, South Korea, and Thailand are closed Wednesday.With few other trading cues, dealers are closely watching the latest official US stockpiles report to be released later Wednesday for clues about demand in the world's top crude consumer, analysts said. Analysts polled by the Wall Street Journal expect US crude reserves to have dipped by 600,000 barrels in the week to December 26. Daniel Ang, ...

Asia-Pacific Crude-Firm demand supports; Bach Ho premium rises SINGAPORE: Differentials for Vietnam's Bach Ho improved in the Asia-Pacific crude market as higher refining margins boosted demand.PV Oil sold 600,000 barrels of Bach Ho crude loading in February to Mitsubishi's PetroDiamond at around $1 a barrel above dated Brent, traders said.PetroVietnam's marketing unit last sold Bach Ho crude for December-loading at a discount of around $1 a barrel, according to Reuters data.The grade has mostly been refined at Vietnam's Dung Quat refinery, but PetroVietnam ...
Middle East Crude-Chinaoil sells eighth Upper Zakum cargo to Shell  SINGAPORE: Cash Dubai came under renewed pressure in the Middle East crude market on Tuesday after sales by Chinaoil, the trading arm of PetroChina.Chinaoil will deliver an eighth Upper Zakum cargo to Shell, traders said. In October, Chinaoil bought 47 cargoes of Upper Zakum, Oman and Dubai in the window, which strengthened the Dubai benchmark.The physical market was quiet as many traders were away on holiday, but an oversupply of crude is likely to persist ...
US oil may fall to $52.10 SINGAPORE: US oil is expected to break a support at $53.37 per barrel and fall more to $52.10, as indicated by its wave pattern and a Fibonacci projection analysis.The support has been identified as the 114.6 percent Fibonacci projection level of a downward wave 3 which started at the Dec. 1 high of $69.54. It is the third wave of a five-wave cycle that started at the Nov. 21 high of $77.83.The next support will ...
Brent oil may drop to $54.98 SINGAPORE: Brent oil may break a support at $57.62 per barrel and fall more to $54.98, as it has resumed its downtrend.The resumption has been confirmed by a fresh low at $57.37 which is lower than the Dec. 16 low of $58.50. Driven by a wave C, the trend has extended slightly below $57.62, the 214.6 percent Fibonacci projection level of this wave.The next support will be at $54.98, the 238.2 percent level. A drop ...
South Korea says to cut city gas rate by 5.9pc on average on Jan 1 SEOUL: South Korea's energy ministry said on Tuesday that it will lower retail prices of natural gas for household and business, dubbed 'city gas', on January 1, 2015 by 5.9 percent on average or lower than its original plan. The move comes to reflect weakening global gas prices, the ministry said in a statement. City gas price has a 2.06 percent weight on South Korea's consumer price index, statistics data shows. Earlier this month the ...
Vietnam index up 0.05pc, bargain hunting supports HANOI: Vietnam's benchmark VN Index was almost flat at the break on Tuesday, edging up just 0.05 percent as bargain hunting around a supportive level trimmed losses in some big caps.The index fell below a strong supportive level of 530 points in early trade before investors seeking cheap shares took their positions, while extended losses in global oil prices repelled appetite in energy stocks.Hanoi-based lender Vietcombank outperformed the market to rise 1.26 percent, while PetroVietNam ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln