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Brent slips towards $105 after gains, supply worries stem losses SINGAPORE: Brent futures slipped back towards $105 a barrel on Tuesday as investors saw the recent surge in prices as an opportunity to book profits, with concerns of an escalation in tensions in the Middle East helping to stem losses.The benchmark hit its highest in nearly a month above $105 in the previous session as supply worries following Israeli air strikes on Syria trumped concern of weak global demand. Oil also drew support from a record close of the Standard & Poor's 500 Index on hopes of a steady US recovery.Brent crude slipped 42 cents to $105.04 a barrel by 0455 GMT, after settling up at $105.46, its highest finish since April 10. Brent has rebounded more than $6 a barrel since falling below $99 last Wednesday. US oil fell 70 cents to $95.46, after ending 55 cents higher."There is some profit-taking coming in after the sharp rise in prices ...

Sri Lanka bourse at one month high on foreign buying COLOMBO: Sri Lankan stocks rose for a fifth straight session on Wednesday hitting a one-month high on foreign purchases of John Keells Holdings.Local investors remained on the sidelines as yields in T-bills rose for a third straight week.The main index ended 0.21 percent or 11.96 points higher at 5,734.82, its highest close since Feb. 19.Foreign investors were net buyers of 209.7 million rupees worth of shares, extending the year-to-date net foreign inflow to 4.19 billion ...
Australian gas rush set to overhaul Qatar SYDNEY: Australia is set to become the world's biggest liquefied natural gas producer, with analysts predicting it will overtake Qatar by 2020 as it unlocks reserves that could last more than a century. Seven of the world's 10 major LNG projects are under construction Down Under, with Aus$176 billion (US$183 billion) of private Australian and foreign investment in gas projects since 2007. "The projects already under development will take us ahead of Qatar. It's just a case ...
BHP says to invest $845m in Australian coal  SYDNEY: BHP Billiton , the world's largest miner, said on Friday it had approved an $845 million investment to establish a replacement mining area at the Appin Mine in Australia's New South Wales state. The area will have a production capacity of 3.5 million tonnes per year of metallurgical coal from 2016, replacing production at the West Cliff Mine, BHP said in a statement. Copyright Reuters, 2012 ...
ADELAIDE: Chevron Corp has signed a preliminary agreement to sell Japan's Tohoku Electric one million tonnes of liquefied natural gas per year for 20 years, the US oil major said on Sunday. The gas will come from its Wheatstone plant in Australia, Roy Krzywosinski, Chevron Austalia's managing director told reporters in Adelaide, adding that with this sale more than 80 percent of the gas from the 8.9 million tonnes per year (mtpa) Wheatstone project had been ...
NEW YORK: Brent crude oil futures dropped for the fifth straight day on Tuesday as post-election uncertainty in Greece deepened Europe's political and economic turmoil and worries about growing US crude inventories persisted, both adding to oil demand concerns. In London, ICE Brent crude for June delivery settled at $112.73 a barrel, down 43 cents, or 0.38 percent, the lowest Brent front-month settlement since Feb. 2. In five days, Brent front-month crude has fallen $6.93, or ...
PERTH: Australia's largest oil and gas company, Woodside Petroleum, said it is very close to exporting liquefied natural gas (LNG) from its flagship project and the nation's No. 2, Santos, reported higher first-quarter output, sending shares of both companies higher on Thursday. Woodside is gearing up its Pluto LNG project to load its first export cargoes in the "coming days," Woodside said in its March quarter production report on Thursday. The flagship A$14.9 billion ($15.47 billion) Pluto ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln