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Brent steady above $61 as companies cut upstream investments SINGAPORE: Brent crude held steady above $61 a barrel on Thursday, bringing a sharp drop in prices to a temporary halt as companies are forced to cut upstream investments around the world.Chevron Corp has put a plan to drill for oil in the Beaufort Sea in Canada's Arctic on indefinite hold, while Marathon Oil cut its capital expenditure for next year by about 20 percent.Canadian oil producers also deepened cuts in 2015 spending, as Husky Energy, MEG Energy and Penn West Petroleum joined those hacking back capital budgets in response to tumbling crude prices.Brent this week dipped to its lowest since May 2009 at $58.50 a barrel, falling close to 50 percent since late June on rising production in the United States, weak economic growth and a decision by OPEC members last month not to cut output."It looks like investors favour support around $60 a barrel," said Daniel Ang, an ...

Hong Kong shares snap 5 days of losses, US outlook supports HONG KONG: Hong Kong shares finished up on Thursday, snapping five consecutive days of losses, underpinned by a rally on Wall Street.Analysts said the Federal Reserve's confidence in the U.S. economy and pledge to adopt a "patient" approach to raising interest rates helped Hong Kong shares rebound.The Hang Seng index rose 1.1 percent, to 22,832.21 points, while the China Enterprises Index gained 0.5 percent, to 11,330.73 points.Among the most actively traded stocks on Hong Kong's ...

Europe shares rally as Fed pledges patient approach to rates PARIS: European stocks rose early on Thursday, tracking a rally on Wall Street after the U.S. Federal Reserve gave an upbeat assessment of the economy and said it would take a patient approach toward raising interest rates.Fed Chair Janet Yellen told a news conference that "patient" meant the policy-setting Federal Open Market Committee was unlikely to hike rates for "at least a couple of meetings", meaning April of next year at the earliest.U.S. stocks and ...

Vietnam index climbs 2pc; energy outperforms HANOI: Vietnam's benchmark VN Index rose 1.97 percent on Thursday, recovering from a seven-month closing low hit in the previous session, as most shares rebounded, led by oil and gas firms.PetroVietNam Gas, Vietnam's biggest firm by market value, rallied 6.45 percent from a 17-month low, while Petrovietnam Drilling & Well Services Corp surged 6.36 percent.OPEC's decision not to reduce output to support tumbling oil prices has taken a toll on both stocks, which have shed ...

UK's FTSE extends gains on Fed comments; gold miners lead LONDON: Britain's main equity index rose early on Thursday, helped by a Federal Reserve pledge to taking a "patient approach" to any interest rate increase.Fed Chair Janet Yellen said rates were unlikely to rise for "at least a couple of meetings," meaning April at the earliest. That helped ease concerns that a tightening in U.S. monetary policy and a rising dollar would curb global economic growth and pummel the price of commodities.Gold-mining companies, with Randgold ...

Franc falls as Swiss go sub-zero; stocks jump after Fed LONDON: The Swiss franc tumbled on Thursday as its central bank slapped a charge on deposits, wary of a flood of money exiting Russia and the likely pressure from the euro zone if the ECB starts full-scale money printing early next year.European shares opened sharply higher after an upbeat assessment of the U.S. economy and a promise to be patient in raising rates by the Federal Reserve had seen U.S. stocks enjoy their strongest session ...

Gulf markets surge as oil rebounds; Dubai up 13pc DUBAI: Stock markets in Saudi Arabia and the United Arab Emirates soared on Thursday after the price of oil rebounded and the Riyadh government eased investors' fears by saying it would continue spending heavily on economic development.Saudi Arabia's bourse was up 8.7 percent two hours into its session. All traded stocks posted gains and some, such as Advanced Petrochemical Co, were up 10 percent, the bourse's daily limit for price moves.The main fear of Gulf ...


Index Closing Chg%
Arrow DJIA 17,778.15 2.43
Arrow Nasdaq 4,748.40 2.24
Arrow S&P 2,061.23 2.40
Arrow FTSE 6,466.00 2.04
Arrow DAX 9,811.06 2.79
Arrow CAC-40 4,249.49 3.35
Arrow Nikkei 17,210.05 2.32
Arrow H.Seng 22,832.21 1.09
Arrow Sensex 27,126.57 1.56

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln