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Oil up to $50 as US stock-draw balances China data LONDON: The price of Brent crude oil jumped more than 2 percent to $50 a barrel on Wednesday as a drawdown in US crude oil stocks outweighed the negative impact of weak economic manufacturing data from China. The US Energy Information Administration said US crude inventories fell 1.9 million barrels to 453.97 million last week, exceeding analysts expectations of a draw of 500,000 barrels. The data was broadly in line with a report on Wednesday by the American Petroleum Institute (API), which had said US crude stockpiles fell 3.7 million barrels last week. Although total US oil inventories are near record highs, the draw suggests a rebalancing of the world's biggest domestic oil market is under way as oil production slows in the face of low prices. "We had a bigger drawdown in crude than expected," said Oliver Sloup, director of managed futures at Chicago-based "The drawdown is giving ...

Oil falls 2pc as concern over demand bites LONDON: Crude oil prices fell as much as 2 percent on Tuesday on uncertainty over whether global demand will be enough to erode a sky-high surplus, ahead of a weekly survey of US inventory levels. Volatility has picked up this week, as the outlook for crude has been muddied by data pointing to the market possibly having stabilised after losing more than half its value in a year, and the persistence of the highest global ...
Total says no manipulation of natgas market after US accusations PARIS: French oil and gas major Total said on Tuesday that it was convinced its local unit TGPNA had not committed any of the manipulations of natural gas market alleged by US energy regulator FERC. A spokeswowan said Total had fully cooperated with energy regulator FERC in the probe over allegations it manipulated natural gas market in 2009-2012 and transmitted all requested documents. US federal energy regulators on Tuesday alleged traders at French energy company ...
Nigeria's crude oil exports expected to slide in November LONDON: Total exports of Nigerian crude were expected to fall by roughly 10 percent in November from the annual high hit the previous month.Nigeria plans to export a total of 56.66 million barrels of oil, or 1.89 million barrels (bpd) of crude oil in November, according to provisional loading programmes.This is a decline from the 63.1 million barrels, or 2.04 million bpd, planned initially for October loading. On a per-day basis, the November programme is ...
Volatile oil market drops after brief rally LONDON: Oil prices slid once more on Tuesday, reversing sharp gains in the previous session, hit by persistent concerns about oversupply and slower Chinese growth, analysts said.US benchmark West Texas Intermediate for delivery in October shed $1.18 to $45.50 a barrel compared with Monday's close.Brent North Sea crude for November delivery lost 57 cents to stand at $48.35 a barrel in late London deals.Trading in oil is currently volatile, with prices surging in the middle ...
Oil prices drop after Fed holds rate LONDON: Oil prices fell Friday after the US Federal Reserve kept its main interest rate on hold and following a volatile week for crude.US benchmark West Texas Intermediate for delivery in October dropped 95 cents to $45.95 a barrel from Thursday's close.Brent North Sea crude for November delivery lost 59 cents to trade at $48.49 a barrel in late London deals.The Federal Reserve held its key interest rate locked near zero Thursday, citing worries about ...
European shares steady ahead of Fed decision on rates MILAN: European shares closed little changed on Thursday with many investors refraining from taking up big positions as they awaited a US Federal Reserve decision on whether to lift interest rates for the first time since 2006. The pan-European FTSEurofirst 300 index ended down 0.20 percent and the euro zone's blue-chip Euro STOXX 50 index edged up 0.12 percent. Despite the caution ahead of the Fed's decision, dealmaking activity resurfaced driven by large piles of ...


Index Closing Chg%
Arrow DJIA 16,776.43 1.85
Arrow Nasdaq 4,781.27 1.56
Arrow S&P 1,987.05 1.83
Arrow FTSE 6,298.92 2.76
Arrow DAX 9,814.79 2.74
Arrow CAC-40 4,616.90 3.54
Arrow Nikkei 18,005.49 1.58
Arrow H.Seng 21,854.50 1.62
Arrow Sensex 26,785.55 2.15

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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 $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln