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Oil prices slide after US-inspired jump LONDON: Oil slid Friday at the end of a tumultuous week, during which prices hit 6.5-year lows on fears over China's slowing but then rebounded on strong US economic growth data.US benchmark West Texas Intermediate (WTI) for October delivery lost 21 cents to $42.35 per barrel.Brent North Sea crude for October dropped 15 cents in early afternoon London deals to $47.41.Both contracts had soared by about 10 percent on Thursday after news the US economy -- the world's biggest followed by number two China -- grew at a better-than-expected annual rate of 3.7 percent in the second quarter."Yesterday's rebound (in oil prices) does of course follow in the wake of the huge, broad-based sell-off in all markets at the start of the week," said SEB analyst Bjarne Schieldrop."When better than expected US GDP data hit the news... yesterday, the equity recovery got additional traction upwards," he added.World stock markets were ...

Lithuania LNG imports could fall to 320-320 mcm in 2016 OSLO: Lithuania is planning to import 35-40 percent less liquefied natural gas (LNG) via its terminal at the Klaipeda port next year due to falling demand, business daily Verslo Zinios reported on Friday. The volumes could decline from a planned 540 million cubic metres (mcm) this year to 320-350 mcm in 2016, the newspaper said, citing sources. Lithuanian LNG importer Litgas has a five-year contract with Norway's Statoil to buy 540 mcm per year, but ...
Oil firms before US energy report LONDON: Oil prices turned higher Wednesday but remained near six-year lows ahead of the latest US energy report after jitters over China's faltering economy spurred heavy losses earlier this week. US benchmark West Texas Intermediate (WTI) for October delivery added just six cents to $39.37 per barrel.Brent North Sea crude for October climbed 14 cents in midday London deals to $43.35.Both contracts gained on bargain-hunting Tuesday, after plummeting to their lowest levels since early 2009 ...
Oil rallies but still near 6-1/2-year lows LONDON: Oil bounced back from heavy losses on Tuesday but global oversupply and worries over the severity of the economic slowdown in China, the world's top commodity consumer, kept prices near 6-1/2-year lows. European share markets recovered on Tuesday but Chinese stock markets closed down more than 7 percent, with panic selling intensifying after the Shanghai Composite Index crashed through key support at 3,000 points. China cut interest rates on Tuesday in its latest move ...
Brent crude oil speculators turn more bullish LONDON: Money managers and hedge funds have increased their bets on rising crude oil prices, figures from InterContinental Exchange (ICE) show, in a sign that some speculators think the oil market may be about to recover after many months of falls. ICE data on Monday showed large speculators raised their net long holdings of Brent crude futures and options in the week to Aug. 18 after four weeks of net sales. Money managers raised their ...
Oil market slumps under $39 on China, oversupply LONDON: World oil prices sank to 6.5-year lows on Monday, with New York crude sliding under $39 on fears over Chinese energy demand and global oversupply.US benchmark West Texas Intermediate (WTI) for October delivery tumbled to $38.69, striking a level last seen in February 2009.Brent North Sea crude for October dived in morning London deals to $43.28, last seen in mid-March of the same year."For the first time since March 2009, Brent costs less than ...
Oil market ducks close to $40 LONDON: Oil prices fell close to $40 per barrel on Thursday, striking a new 6.5-year low on supply glut woes, before turning mixed.US benchmark West Texas Intermediate for September delivery struck $40.21 per barrel, the lowest level since March 2009. It later rebounded slightly to trade at $41.04, up 24 cents from Wednesday's close.Brent North Sea crude for October delivery meanwhile hit $46.31 a barrel, a point last seen in mid-January and not far off ...


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Banking Review 2014

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