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Oil falls under $100, lowest in 14 months on weak data LONDON: Brent crude slid below $100 a barrel on Monday for the first time in 14 months as Chinese and U.S. data pointed to slower-than-expected growth in the world's top oil consumers.Weak economic growth combined with ample supply has pushed oil prices down from a high for the year above $115 hit in June, complicating efforts by central banks to ward off deflation and putting pressure on the budgets of major oil producers.Brent fell to a low of $99.72 a barrel, down $1.10 and its lowest since June 2013, before recovering slightly to trade around $100.00 by 1050 GMT. The benchmark fell $1.01 to settle at $100.82 a barrel on Friday, recording its third weekly drop in four.U.S. crude slipped 60 cents to $92.69 a barrel, after settling at $93.29 on Friday for its sixth weekly drop in seven after disappointing U.S. non-farm payrolls data cast doubt on the pace ...

Benchmark Brent oil price falls under $100 in London LONDON: Brent crude oil, the European benchmark, dropped on Monday to under $100 for the first time in more than 14 months on a strong supply situation despite unrest in producer regions.Brent hit $99.76 a barrel at about 0830 GMT to record its lowest level since June 24, 2013 after coming under pressure in recent weeks also from easing expectations for growth of demand.Brent has lost more than 13 percent of its value since June ...
Cutting fossil subsidies must to advance renewables: agency PARIS: Renewable energy, essential for meeting global CO2 emission targets, needs a stable regulatory framework, a cut in fossil fuel subsidies and more interconnected power grids to develop, a global energy agency said Sunday.The development of renewable energy will lead to a "new industrial paradigm" for electricity production, as it should expand by 70 percent globally between 2011 and 2030, according to the International Renewable Energy Agency. IRENA said cutting, or even cancelling, subsidies to ...
Statoil Arctic oil well halted after environmental challenge OSLO: Norwegian oil company Statoil has had to stop drilling at the Arctic Pingvin prospect because of an appeal against its environmental permit, North Energy, a partner in the project, said on Friday. "The top hole on Pingvin has been drilled," North Energy said in a statement. "The timing of a resumption of drilling on the Pingvin prospect will depend on how long it takes to settle the appeal and the decision reached." Environmental groups ...
EU carbon rebounds from three-week low on speculative buying LONDON: European carbon prices closed 2.8 percent higher on Friday on speculative buying, rebounding from a three-week low touched earlier in the day. Front-year EU Allowance futures, trading on ICE, closed up 17 cents at a session high 6.30 euros/tonne, erasing earlier losses that saw the contract trade as low as 6.06 euros. Traders said Friday's gains were fuelled by short covering, as well as buying by some market participants looking for yield. Healthy liquidity ...
Global LNG: Asian prices rise amid tenders MILAN: Asian spot liquefied natural gas (LNG) prices rose this week as demand firmed for October deliveries, although trading activity stayed thin. Spot LNG prices for October delivery rose to around $13.30 per million British thermal units (mmBtu), from around $12.80 per mmBtu last week, sources said. Prices have rebounded in recent weeks after dropping close to 50 percent since February to as low as $10.50 per mmBtu. Exxon Mobil's Papua New Guinea LNG export ...
Enel CEO says delisting Endesa one of options on table CERNOBBIO: Italy's biggest utility Enel will decide what to do with its stake in Spanish utility Endesa in the next 30 days and delisting the unit is one of the options, the group's CEO said on Friday. State-controlled Enel owns 92 percent of Endesa and is looking at what to do with its stake in the group. "The options on the table are three: increase the free float, delist the company or do nothing," Francesco ...

 



 
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Arrow DJIA 17,814.94 0.02
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln