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Oil prices steady after weak start LONDON: Oil prices steadied Tuesday after starting the week with losses amid concerns over ample supply and the breakdown in Greece's debt talks.US benchmark West Texas Intermediate for delivery in July rose 31 cents to $59.83 a barrel compared with Monday's close.Brent North Sea crude for August was up three cents at $63.98 a barrel London afternoon deals."Brent crude oil is trading in a tight range... and the medium-term outlook remains bearish due to the glut of oil that remains on the market," said Kathleen Brooks, research director at traders Forex.com.Sentiment has been weighed down by worries that US oil output is not declining and Saudi Arabia could further ratchet up production.Markets are under pressure also owing to Greece's growing problems. Athens and its creditors were locked in a stalemate after loan talks collapsed over the weekend, bringing Greece just two weeks away from a catastrophic default on its debt, ...

Norway's Statoil could cut workforce by 2,000 OSLO: Norwegian energy firm Statoil could lay off another 2,000 employees by the end of 2016, business daily Dagens Naeringsliv (DN) said on Friday.The decision will be finalised in the near future, after discussions with the management and representatives from the unions on Thursday.According to DN, 1,500 employees will be laid off, as well as 500 hired workers.The cuts would be part of Statoil's technical efficiency programme announced in February, which targets a $1.7 billion ...
Global LNG: Price slide resumes on weak demand MILAN: Asian spot liquefied natural gas (LNG) prices for July fell this week on continued weak demand and ample supply. The price of Asian spot cargoes slid to $7.40 per million British thermal units (mmBtu), compared with around $7.70 per mmBtu last week. There was supply availability from Russia's Sakhalin export plant, which launched a tender to sell four cargoes spread across July, August and September last week. Sakhalin was also expected to shut down ...
Oil prices drop as IEA predicts demand slowdown LONDON: Oil prices dropped Thursday as the International Energy Agency predicted that a recent surge in world crude demand was set to end.US benchmark West Texas Intermediate for delivery in July fell 93 cents to $60.50 a barrel compared with Wednesday's closing level.Brent North Sea crude for July slid 91 cents to stand at $64.79 late afternoon in London. World oil demand growth soared to a four-year high in the first three months of 2015, ...
Oil prices drop as IEA predicts demand slowdown LONDON: Oil prices dropped Thursday as the International Energy Agency predicted that a recent surge in world crude demand was set to end.US benchmark West Texas Intermediate for delivery in July fell 58 cents to $60.85 a barrel compared with Wednesday's closing level.Brent North Sea crude for July slid 46 cents to stand at $65.24 around midday in London. World oil demand growth soared to a four-year high in the first three months of 2015, ...
Oil prices slide as OPEC sits tight LONDON: World oil prices slid this week as OPEC decided against cutting its output target, while a boost for the dollar also weighed on commodities, including gold. OIL: Prices fell throughout the week on expectations that the Organization of Petroleum Exporting Countries would maintain its crude oil output ceiling, which turned out to be the case following a meeting on Friday.OPEC stuck to its strategy of preserving market share faced with cheaper competition from the ...
Oil steadies ahead of OPEC meeting LONDON: Oil prices steadied on Thursday as a weaker dollar offset worries over a global supply glut ahead of a meeting of OPEC oil producers.The Organization of the Petroleum Exporting Countries (OPEC) is widely expected on Friday to keep a group output target of 30 million barrels per day (bpd), despite calls from some producers to cut supply to support prices.The cartel is now pumping about 2 million bpd more than needed, analysts say, feeding ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln