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Oil prices sink further and give boost to European shares LONDON: Oil prices showed no sign of escaping their downward spiral on Monday and signs emerged that cheap crude may have a positive impact on the European economy, with airlines and the auto industry leading the region's shares higher.The U.S. dollar edged higher as the majority of investors who expect a stronger greenback were given a chance to reload after a weakening in the aftermath of a surprise fall in U.S. wages on Friday.German airline Lufthansa rose 2.5 percent after saying it expects the lower price of oil to cut its fuel bill for 2015 by 13 percent after the cost of hedging, setting it on course for a rise in profit this year.Automotive supplier Continental rose 2.3 percent after saying it expects sales growth to quicken to around 5 percent this year as global passenger car production rises moderately."Historically, oil price collapses coincided with a weakening economy. This time ...

Oil extends fall; Goldman Sachs cuts forecasts LONDON: Oil renewed its decline on Monday, dropping below $49 a barrel as Goldman Sachs slashed its short-term price forecasts and Gulf producers showed no signs of curbing output.Brent and U.S. crude are near their lowest since April 2009, having fallen for seven straight weeks on a growing supply glut.The February Brent contract was down $1.33 at $48.78 a barrel at 1220 GMT. U.S. crude oil for February was down $1.20 at $47.16 per barrel.Analysts ...
Oil prices extend falls; Goldman Sachs slashes forecasts LONDON: Oil prices renewed their declines on Monday, dropping below $49 a barrel as Goldman Sachs slashed its short-term forecasts and Gulf producers showed no signs of cutting production.Both Brent and U.S. crude are around their lowest since April 2009 and have fallen for seven straight weeks on a growing supply glut.The February Brent contract was down $1.29 at $48.82 a barrel at 0917 GMT. U.S. crude oil for February was down $1.12 at $47.24 ...
Gas tanker runs aground off Nigeria MILAN: A liquefied natural gas (LNG) tanker has run aground off Nigeria after taking on a cargo at the country's Bonny Island export plant, two trading sources said. The 165,000-cubic-metre-capacity Magellan Spirit tanker, owned by Teekay LNG Partners, ran aground trying to leave the port bound for South Korea, traders said. Teekay could not be reached for immediate comment. A trader said that the tanker is not expected to disrupt inbound or outbound tanker traffic ...
Norway's gas capacity down by close to a fifth on Monday after storm OSLO: Norwegian gas export capacity will be reduced by around a fifth on Monday due to power outages at major onshore and offshore facilities, limiting exports to western Europe, gas system operator Gassco said on Monday. Gas export capacity will be reduced by a combined 62 million cubic metres (mcm) on Monday, or about 18 percent of Norway's overall capacity, with all outages seen ending on Monday, after a winter storm disrupted power supplies. At ...
North Sea oil producer Ithaca cuts 2015 investments by 60pc LONDON: North Sea-focused oil and gas operator Ithaca Energy has cut its 2015 investment budget by 60 percent from last year year because of weak oil prices, it said on Monday. The London and Toronto-listed company said its 2015 net capital expenditure would be about $150 million, two thirds of which is related to its Greater Stella Area project, which is expected to produce its first oil before the end of this year. "The (capex) ...
Hungary resumes gas supplies to Ukraine KIEV: Hungary resumed gas supplies to Ukraine on Saturday after an almost three-month pause, Ukrainian gas transport monopoly Ukrtransgaz said. "The flow resumed today at 11.00 (0900 GMT)," Ukrtransgaz said in a statement. Ukraine will receive 2.7 million cubic meters (mcm) of gas from Hungary every day, it added. Ukraine, which began to import large volumes of gas from Europe in 2014, received a total of 600 mcm of Hungarian gas last year. Hungary suspended ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln