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British prices fall on Ukraine-Russia deal LONDON: British wholesale gas prices for the rest of this year fell on Friday after Ukraine and Russia signed a deal that will see Moscow resume gas supplies to Kiev this winter, while warm UK weather and high storage levels added to the bearish tone. Russia is Europe's biggest supplier of gas and provides around a third of the continent's needs, pumping roughly half of that via Ukraine. Some of this reaches Britain from continental European storage sites. Failure to reach an agreement would have raised fears of disruptions to European gas supply via Ukraine this winter, but prices of wholesale natural gas had already been declining on Thursday afternoon in anticipation of a deal.The UK gas contract for delivery in November was trading at 52.20 pence per therm at 0915 GMT on Friday, down 1.5 percent from the previous settlement.It earlier touched 52.00 pence, its lowest since the contract ...

Oil falls towards $85 on strong dollar, oversupply LONDON: Brent crude oil fell more than a dollar towards $85 a barrel on Friday as a firmer dollar and a well supplied oil market pushed the benchmark towards its steepest monthly decline since 2012. The US dollar rose to a three-week high on Thursday, after data showed the US economy grew 3.5 percent in the third quarter, topping market estimates for a 3 percent rise. A strong dollar makes commodities such as oil more ...
Enel still sees binding offers for Slovakia assets by end-Nov MILAN: The head of Italian utility Enel , Francesco Starace, said on Thursday the group still expected binding offers for the assets it intends to sell in Slovakia by the end of November. Enel, Europe's most indebted utility, plans to sell more than 4 billion euros ($5 billion) in assets by the end of 2014 to reduce its debt. Enel is seeking to sell assets in Romania and binding offers for these assets are also ...
Prices dip on low consumption, traders eye Ukraine outcome LONDON: Prompt natural gas prices in Britain dipped on Thursday morning on lower consumption forecasts and as flows returned after outages, while prices further out were down ahead of the outcome of Ukraine gas talks. Prices for delivery on Friday were 1.25 pence lower at 51.35 pence per therm at 0841 GMT, while prices for immediate delivery were down 1.40 pence at 52.10 pence. Traders said they were expecting lower consumption of gas on Friday ...
UK gas prices dip on low consumption, traders eye Ukraine outcome LONDON: Prompt natural gas prices in Britain dipped on Thursday morning on lower consumption forecasts and as flows returned after outages, while prices further out were down ahead of the outcome of Ukraine gas talks.Prices for delivery on Friday were 1.25 pence lower at 51.35 pence per therm at 0841 GMT, while prices for immediate delivery were down 1.40 pence at 52.10 pence.Traders said they were expecting lower consumption of gas on Friday and over ...
Oil drops below $87 as Fed optimism lifts dollar LONDON: Brent crude oil fell below $87 a barrel on Thursday, pressured by a stronger dollar after the Federal Reserve painted a brighter outlook for the US economy.The US central bank on Wednesday ended its monthly bond purchase programme, showing confidence in the prospects for the US economy. While that boosts the outlook for demand from the world's top oil user, the dollar is gaining as expectations rise that the Fed could lift interest rates ...
Gazprom says EU, Ukraine must agree gas debt payment for talks to restart MOSCOW: Gazprom on Thursday said that the EU and Ukraine must agree a deal for Kiev to pay off its gas debts to Russia before talks on restarting deliveries to the strife-torn nation can restart."The European Commission must reach an agreement with Ukraine over the question of financing. Otherwise, negotiations make no sense," Gazprom spokesman Sergei Kuprianov told AFP.EU-brokered talks overnight in Brussels to solve the gas dispute between Russia and Ukraine, which threatens to ...

 



 
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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