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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 demand and oversupply is resolved, we will continue to see this type of market volatility as investors test the waters," Daniel Ang, investment analyst at Phillip Futures, told AFP. "There are two camps in the market at the moment. Some who believe prices can fall further, and others who are betting that it should be above $60," Ang added.Crude prices have plunged roughly 50 percent since June owing to plentiful supplies, a stronger dollar and ...

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," ...
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) ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln