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Brent up near $110 as market shrugs off Fed taper LONDON: Brent crude oil futures were up near $110 a barrel on Thursday as the market shrugged off a decision by the U.S. Federal Reserve to reduce its monetary stimulus programme, and remained focused on U.S. crude stock draws and production outages.Brent crude was up 45 cents to $110.08 a barrel by 1439 GMT, after ending $1.19 higher on Wednesday. U.S. oil futures rose 50 cents to $98.30, after finishing 58 cents up. The January U.S. contract expires today.Oil prices faced some headwinds early in the session after the dollar rallied hard on the Federal Reserve's decision to reduce its bond buying, but had pushed ahead by the time New York traders arrived at their desks."The 'tapering proclamation' yesterday gained a lot of attention but it also turned out to be a non-event oil price-wise," said Michael Poulsen, oil risk manager at Global Risk Management.Traders have had plenty of time ...

EU carbon prices hit seven weeks high LONDON: European carbon prices hit a seven week high on Wednesday in thin trade and on the back of an absence of government auctions of permits. The December 2014 EU Allowance (EUA) contract hit 5.09 euros during the session, its loftiest level since Oct. 30. The benchmark futures fell back to 5 euros at the close, 1 cent down on Tuesday's settlement. "Prices moved up and down in very thin volume but it looks like ...
Brent holds above $108 ahead of Fed stimulus decision LONDON: Brent oil futures held above $108 a barrel on Wednesday with investors reluctant to lock in positions ahead of a U.S. Federal Reserve policy decision on a plan to trim its monetary stimulus.Fed Chairman Ben Bernanke is expected to give details later on when the U.S. central bank may start to reduce its $85 billion-a-month bond-buying programme which has underpinned global assets including commodities and restrained the dollar.Brent crude fell 10 cents to $108.34 ...
Brent slips below $109 ahead of Fed meeting LONDON: Brent oil slipped below $109 a barrel on Tuesday, ahead of a key US Federal Reserve meeting in which the central bank may decide to scale back its massive stimulus programme. The Fed's Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday, and investors are hoping for a better sense of when it may start to reduce its $85 billion-a-month bond-buying programme. A cut in its stimulus would boost the dollar, weighing ...
Gazprom yet to budget for China gas pipeline in 2014 MOSCOW: Russia's biggest natural gas producer Gazprom has not included funding for the construction of a gas pipeline to China and the development of a gas field to supply it in its initial 2014 investment programme, local media reported on Tuesday. Russian news agency Itar-Tass and business daily Vedomosti cited company sources as saying Gazprom had not yet budgeted for the Power of Siberia gas pipeline and the Chayanda gas field development because the company ...
Forties bid up, more fixtures eyed: North Sea Crude LONDON: North Sea Forties crude differentials were bid up on Monday by Trafigura, which is still keen to secure barrels for its planned shipment to Asia around the turn of the year. The VLCC Daba, which was twice fixed for a Forties shipment to Asia, first with Shell and then with Trafigura but failed both times, now appears to be back on with Trafigura. The trading house had earlier dropped it in favour of ...
Total reaches pay deal with two French unions PARIS: Total's French refining operations have reached a pay rise deal with two unions, isolating the hardline CGT union, the company and a union official told Reuters on Monday. The CGT, which represents around a quarter of the refining workers at Total's French refineries, remained on strike for a fourth day. "This is a good compromise in the current economic climate. The deal is applicable for 19,000 workers," said Francois Pelegrina, a coordinator ...


Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
Arrow S&P 2,010.40 0.05
Arrow FTSE 6,837.92 0.27
Arrow DAX 9,799.26 0.01
Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08

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Foreign Debt $61.805bn
Per Cap Income $1,386
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WeeklySeptember 18, 2014
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