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Indonesia to set domestic fuel subsidy at fixed rate per litre JAKARTA: Indonesia will set domestic fuel subsidy at a fixed rate per litre from Jan. 1, the chief economics minister said on Friday. The change will make domestic fuel prices float according to market price, but the government's budget for fuel subsidies will be manageable, Sofjan Djalil, the chief economics minister, told Reuters. "We're going to have another policy on oil price introduced before the end of the year, we're going to introduce fixed subsidy (per litre)," he said, adding the change would come into effect on Jan. 1. President Joko Widodo, who took office in October, has confronted ballooning fuel subsidy costs by increasing fuel prices by more than 30 percent in November. Copyright Reuters, 2014 ...

Oil rebounds in volatile year-end trade SINGAPORE: Oil prices edged up in Asia Friday after falling sharply in the previous session, as analysts predicted increased volatility and no end in sight this year to tumbling prices. US benchmark West Texas Intermediate (WTI) for January delivery rose 73 cents to $54.84, while Brent crude for February gained 32 cents to $59.59 in afternoon trade. WTI dived Thursday $2.36 to its lowest since May 2009, while Brent tumbled $1.91."Until the issue of low ...
Lower oil prices expected to boost Asian demand growth in 2015 SINGAPORE: Lower oil prices could boost demand in Asia in 2015, with spot interest for diesel, Asia's most widely used fuel, picking up in countries like Vietnam, Philippines and Indonesia, traders and analysts said.Asia's oil demand is expected to grow 660,000 barrels per day (bpd) to 31.11 million bpd in 2015, up from this year's growth of 610,000 bpd, according to estimates by oil and gas consultancy KBC Advanced Technologies.The region will add 310,000 bpd ...
Oil rebounds in volatile year-end trade SINGAPORE: Oil prices edged up in Asia Friday after falling sharply in the previous session, as analysts predicted increased volatility and no end in sight this year to tumbling prices. US benchmark West Texas Intermediate for January delivery rose 63 cents to $54.74, while Brent crude for February gained 16 cents to $59.43 in mid-morning trade. WTI dived Thursday $2.36 to its lowest since May 2009, while Brent tumbled $1.91."Until the issue of low global ...
Asia-Pacific Crude-High freight rates support; Sokol strengthens SINGAPORE: Spot differentials for Russian Sokol strengthened in the Asia-Pacific crude market, as the short-haul grade benefited from high transportation costs for competing grades from other regions.India's ONGC sold 700,000 barrels of Sokol crude loading Feb. 20-26 in a tender at around $3.50 a barrel above the Oman-Dubai average, traders said.The premium to the Oman/Dubai average translates into a premium of around $4 a barrel against Dubai quotes, according to one trader. Last month, the ...
Middle East Crude-Iraq steps up exports SINGAPORE: The Middle East crude market came under pressure on Thursday as Iraq stepped up exports, adding to a glut of medium, heavy sour oil available to Asia.This was despite a rise in spot crude purchases from Taiwan's CPC Corp.Iraq's State Oil Marketing Organization (SOMO) has scheduled to export about 2.64 million barrels per day (bpd) of Basra Light in January, traders said, up from 2.55 million bpd in the previous month.More oil could come ...
Sri Lankan stocks recover from three-week low; rupee steady COLOMBO: Sri Lankan stocks recovered on Thursday, snapping a five-session losing streak, with high net worth and institutional investors trading actively. However, political concerns ahead of the Jan. 8 presidential poll weighed on sentiment. The main stock index was up 0.4 percent, or 29.57 points, at 7,229.30 at 0733 GMT, recovering from a three-week closing low in the previous session. "There was some positive momentum after top government leaders met business leaders and professionals yesterday," ...

 



 
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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%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln