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Australia shares sluggish; weak data, gold slump cap SYDNEY/WELLINGTON: Australian shares edged higher on Tuesday, but held near three-week lows as an uninspired performance on Wall Street, a slump in gold prices and a dip in business conditions tempered the mood. Gold miners declined as bullion fell 1.2 percent to a fresh three-month low overnight, losing some of its safe-haven lustre after a ceasefire between Ukraine and Russian rebels took effect on Friday. Australia's top gold miner Newcrest Mining Ltd dropped 1.9 percent, while Beadell Resources Ltd lost 0.6 percent. Elsewhere, a measure of Australian business conditions pulled back from four-year highs in August as sales and profits eased. Matthew Sherwood, head of investment market research at Perpetual, said investors were worried about the faltering recovery in Japan and the possibility of Scottish independence form the United Kingdom. "That's really keeping a lid on any upside to the market -there are headwinds and there are risks to be ...

Apache announces Australian oil discovery SYDNEY: US energy firm Apache on Monday announced an oil discovery off northwestern Australia which it said could potentially represent a new oil province for the country.The find at the Phoenix South-1 well is the first for Apache Energy in the Canning Basin, some 180 kilometres (112 miles) north of the Western Australian town of Port Hedland."Although evaluation is at an early stage, Phoenix South-1 is an exciting result," said Apache's executive vice-president and chief ...
Asia shares supported by upbeat China factory survey SYDNEY: Asian stock markets edged broadly higher on Thursday and the Australian dollar jumped after a surprisingly strong reading on Chinese manufacturing bolstered hopes for recovery in the world's second-biggest economy. The HSBC flash PMI came in at 52.0 for July, well above forecasts of a small rise to 51 in July and the highest reading in 18 months. There was also good news on the outlook, with a sub-index of new orders reaching 53.7. ...
Australia shares flat in choppy trade, oil sector weak SYDNEY/WELLINGTON: Australian shares were a shade lower on Wednesday, as investors remained cautious over turmoil in Iraq and ahead of the Federal Reserve's two-day meeting while the oil sector dragged. Oil companies were the heaviest drag on the index as Woodside Petroleum Ltd came out of a trading halt to lose 3.7 percent to A$41.28, its lowest price since May 23. Royal Dutch Shell launched a long-anticipated sale of most of its stake in Australia's ...
BHP boosts iron ore output and lifts guidance SYDNEY: Global mining giant BHP Billiton raised its fiscal year iron ore production outlook for a second time this year on Wednesday after seeing a better-than-expected jump in output for January-March.The world's biggest mining company increased guidance for production the year to June to 217 tonnes, up from the 212 tonnes previously forecast. That comes despite concerns about the strength of the economy in China, the number one buyer of ore.It said production in January-March ...
BP partners New Zealand Refining, Z Energy to buy crude WELLINGTON: BP has formed a joint venture with New Zealand Refining Co Ltd and Z Energy to buy crude oil for New Zealand's only refinery to help defend their common market against fuel imports. BP and Z Energy are NZ Refining's two biggest customers for petroleum products. At present, the 110,000 barrels-per-day (bpd) refinery operates only when crude shipments arrive and has to change its settings to cope with different types of crude. The agreement ...
Shell sells Australia gas project stakes for $1.14bn LONDON: Royal Dutch Shell said on Monday it had agreed to sell stakes in a gas project in Western Australia for $1.14 billion as part of the oil company's drive to improve its return on investment.Shell said it is selling an 8 percent stake in the Wheatstone and nearby Iago gas fields as well as a 6.4 percent stake in the related Wheatstone liquefied natural gas (LNG) project to the Kuwait Foreign Petroleum Exploration Company ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln