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Australia's Woodside invests in LNG projects, delays Browse decision SYDNEY: Shares in Woodside Petroleum jumped on Wednesday following the Australian energy producer's decision to pay US$2.75 billion to acquire stakes in liquefied natural gas projects from US firm Apache.The deal came as Woodside delayed a decision Tuesday to invest in the Browse gas-export project off Western Australia to take advantage of lower costs for the multi-billion-dollar venture.The oil and gas giant closed 3.02 percent higher to Aus$35.50 (US$28.93) on Wednesday. It fell 2.6 percent to Aus$34.46 on Tuesday along with declines in other energy stocks.The acquisition transaction includes a 13 percent interest in Wheatstone LNG and a 65 percent interest in the Julimar-Brunello upstream gas development, both in Western Australia.Woodside also acquires a 65 percent interest in the Balnaves oil project off the coast of Western Australia, as well as a 50 percent interest in the Kitimat LNG venture in Canada.The energy market has been challenged by tumbling oil ...

Australia shares seen opening down for 5th session on oil, budget woes SYDNEY: Australian shares are likely to fall for a fifth straight session on Monday as investors mull a plunging oil price, Chinese economic slowing, and what is expected to be a wider than expected forecast domestic budget deficit.In a mid-year review, Australian Treasurer Joe Hockey is expected to reveal that the budget deficit for the year to June 30, 2015 will blow out by about A$5 billion ($4.2 billion) to nearly A$35 billion.Hockey is expected ...
Australia shares post biggest drop in a week; energy, resources slump SYDNEY: Australian shares dropped 1.7 percent on Tuesday on a broad-based sell-off as renewed concerns about global growth, sinking oil prices and declining business confidence at home kept buyers at bay. The S&P/ASX 200 index fell 90 points, the biggest drop in a week, to 5,321.8 at the close of trade. On Monday, the index rose 0.7 percent. Energy stocks Sundance, Santos and Drillsearch took a beating as oil slumped to near 5-year lows while ...
Oil reaches new depths, rush to safety rescues yen SYDNEY: Oil prices skidded to fresh five-year lows on Tuesday, pressuring commodity-linked currencies and most Asian shares as a bout of risk aversion rippled through world markets. The urge for safety gave a rare boost to the Japanese yen which notched up particularly large gains on the beleaguered Australian and New Zealand dollars. Much of the action was in oil where a glut of supply has seen prices fall for almost six months now, so ...
Australia shares shake off weak Wall St, end higher on oil, gold gains SYDNEY: Australian shares shook off a weak lead from Wall Street and recovered some of their recent losses on Tuesday, as rebounding oil and metals prices drove a relief rally in resources firms. The S&P/ASX 200 index added 1.4 percent or 73.58 points to 5281.3, clawing back some of the 3.6 percent it lost in the previous two sessions. New Zealand's benchmark NZX 50 index ended flat, rising 0.4 points to finish the session at ...
Papua New Guinea PM revises GDP growth to 8.4pc this year as gas revenues flow SYDNEY: Papua New Guinea is on track to show revised economic growth in excess of 8.4 percent this year, beating its own forecast of 5 percent, Prime Minister Peter O'Neill said.O'Neill also forecast a further rise in gross domestic product (GDP) growth to at least 15 percent in 2015, citing an improving business climate helped by the start up a $19 billion liquefied natural gas project by ExxonMobil Corp."We are conservatively predicting 15 percent next ...
Brent hovers below $98, but set for 1st weekly rise in 3 SINGAPORE: Brent crude held below $98 a barrel on Friday, but was set for its first weekly gain in three on the possibility of lower OPEC output. OPEC's secretary-general this week said the supply group may reduce production soon, while Libya has again cut output amid anarchy in the country. Brent has remained below $100 since Sept. 9, as global oil production growth, led by the United States, exceeded demand. A stronger dollar also dragged ...


Index Closing Chg%
Arrow DJIA 17,6630.27 1.09
Arrow Nasdaq 5,089.21 0.98
Arrow S&P 2,093.25 1.24
Arrow FTSE 6,555.28 0.77
Arrow DAX 11,173.91 1.06
Arrow CAC-40 4,977.32 1.01
Arrow Nikkei 20,328.89 0.10
Arrow H.Seng 24,503.94 0.62
Arrow Sensex 27,459.23 0.37

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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln