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Oil edges up from 4-year low to $78, IEA warns on 2015 LONDON: Oil edged up from an early four-year low below $77 a barrel on Friday, when it had been pressured by excess supply and scepticism that OPEC would cut output at a meeting in two weeks. The International Energy Agency, which usually refrains from predicting oil prices, said in its monthly report that prices could fall further in 2015 and pressure was building on OPEC to cut supply."It is increasingly clear that we have begun a new chapter in the history of the oil markets," the IEA said. "Barring any new supply disruption, downward price pressures could build further in the first half of 2015," said the IEA, which advises the United States and other industrialised countries. Brent hit an intra-day low of $76.76 earlier in the session and traded at $78.13 as of 1041 GMT, up 64 cents from Thursday. US crude was up 14 cents at $74.35. Global ...

Russia's Gazprom says risks to gas transit via Ukraine 'critical' MOSCOW: Risks to the transit of Russian gas to Europe via Ukraine have reached a "critical" level, Russia's top natural gas producer Gazprom said on Friday in its third-quarter financial results under Russian Accounting Standards. Russia caters for a third of the European Union's gas needs, while half of Russian gas exports to Europe flow via Ukraine. Copyright Reuters, 2014 ...
Brent crude hits new four-year low LONDON: Brent oil slumped Thursday to a new four-year low on expectations that OPEC will unlikely to cut production levels to counter the global supply glut, traders said.At about 0820 GMT, London's Brent crude for delivery in December dived to $79.55 per barrel, hitting a low point last witnessed in late September 2010.The contract later stood at $79.88 per barrel, down 50 cents from the closing level on Wednesday, when it had first tumbled below ...
Brent oil hits four-year low below $80, awaits OPEC LONDON: Brent crude oil fell to a four-year low below $80 a barrel on Thursday after Chinese data showed a further slowdown in activity in the world's biggest energy consumer and Saudi Arabia remained silent about a possible cut in production.China's economy lost momentum in October, with factory growth dipping and investment growth hitting a near 13-year low, reinforcing expectations of a slower increase in fuel demand from the major emerging nations.Developing economies have been ...
UK gas prices ease as supply surpasses demand in mild weather LONDON: Wholesale natural gas prices in Britain fell on Thursday as gas flows were more than enough to meet demand with temperatures remaining above seasonal trends.UK gas for delivery on Friday was 0.45 pence lower at 54.25 pence per therm at 0944 GMT, while gas for immediate delivery was 1.25 pence lower at 53.25 pence per therm.Flows were expected to be around 226 million cubic metres (mcm) on Thursday, and demand was around 217 mcm, ...
Oil below $80 hits rouble, naira; politics weighs on Ukraine LONDON: A renewed downward lurch in oil prices put emerging market commodity currencies under more pressure on Thursday, with Russia's rouble facing additional headwinds from a flare-up in tensions with Ukraine.As Brent crude dropped through $80 and Ukraine deployed troops amid fears of a new separatist offensive in the country's east, the rouble sank more than 1.5 percent against the dollar."There is a risk of oil prices dropping further and the geopolitical risk is making ...
Oil falls to four-year low below $80, awaits OPEC LONDON: Brent crude oil fell to a four-year low below $80 a barrel on Thursday after Chinese data showed a further slowdown in activity in the world's biggest energy consumer and Saudi Arabia remained silent about a possible cut in production.China's economy lost momentum in October, with factory growth dipping and investment growth hitting a near 13-year low, reinforcing expectations of a slower increase in fuel demand from emerging nations.Developing economies had been a major ...

 



 
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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