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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 from Iraq's Kurdistan Regional Government (KRG) which expects exports to total 800,000 bpd next year."KRG production could well reach 400,000 bpd by the end of next year and with 300,000 bpd from Kirkuk field, we're not far off 800,000 bpd, but that would be end-year, in my opinion," Samuel Ciszuk, senior adviser of security of supply to the Swedish Energy Agency, said on the Global Oil Forum.Cash Dubai's discount to Dubai swaps widened to about ...

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," ...
Middle East Crude: Premiums climb on low OSPs, firm demand SINGAPORE: The Middle East crude market stayed firm on Wednesday with most February spot grades sold at higher differentials than the previous month.Low official selling prices (OSPs) and robust demand for incremental crude in Asia supported differentials in February, pushing up premiums for Abu Dhabi Murban close to 60 cents a barrel.A Japanese refiner has bought a Das crude cargo at more than 70 cents a barrel, a trader said.Refiners across Asia are keeping crude ...
Brent edges further above $61 as companies cut upstream investments SINGAPORE: Brent crude edged further above $61 a barrel on Thursday, after sharply lower prices forced companies to cut upstream investments around the world. Chevron Corp has put a plan to drill for oil in the Beaufort Sea in Canada's Arctic on hold indefinitely, while Marathon Oil cut its capital expenditure for next year by about 20 percent.Canadian oil producers also deepened 2015 spending cuts, as Husky Energy, MEG Energy and Penn West Petroleum joined ...
Oil prices mixed in Asian trade SINGAPORE: Oil prices were little changed in Asia Thursday after data showed US stockpiles dipping, while the Federal Reserve indicated interest rates would not be hiked until the middle of next year.US benchmark West Texas Intermediate for January delivery fell 27 cents to $56.20 while Brent crude for February gained two cents to $61.20 in afternoon trade.The price stabilisation in Asian trade follow an advance Wednesday that came after the US Energy Information Administration (EIA) ...
Crude steady above $56/bbl after 1pc gain TOKYO: US crude futures were little changed above $56 a barrel on Thursday following volatile trading the previous day due to bearish US oil data, Russia's rouble crisis and a US decision to resume diplomatic ties with Cuba after 50 years. Copyright Reuters, 2014 ...
US oil may revisit high of $58.98 SINGAPORE: US oil may revisit its Dec. 17 high of $58.98 per barrel, as it has managed to stabilize around a support at $53.69.The support has been identified as the 238.2 percent Fibonacci projection level of a downward wave C that developed from the Sept. 30 high of $94.90. The rebound triggered by this support has easily extended above two resistances, namely $56.22 and $57.77, respectively the 223.6 percent and the 214.6 percent projection levels. ...


Index Closing Chg%
Arrow DJIA 18,010.68 0.64
Arrow Nasdaq 5,070.03 0.55
Arrow S&P 2,107.39 0.63
Arrow FTSE 6,984.43 0.80
Arrow DAX 11,413.82 2.26
Arrow CAC-40 5,007.89 2.53
Arrow Nikkei 20,563.15 0.06
Arrow H.Seng 27,424.19 0.11
Arrow Sensex 27,828.44 1.17

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln