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Global LNG: Prices fall on lacklustre demand LONDON/MILAN: Asian spot liquefied natural gas prices for March delivery fell sharply for a second week as traders said supply disruptions failed to derail the market's downward trajectory weighed by weak demand. The price of spot LNG fell to $8 per million British thermal units (mmBtu) on Friday from $9.00 last week. One bullish factor for the market was Yemen declaring force majeure on LNG deliveries from its Balhaf plant, as security deteriorated after the collapse of the government.Yet traders said Asian LNG prices were not impacted as it was expected the situation could be resolved quickly while the global market remained oversupplied. Traders said falling oil prices were encouraging some utilities to switch away from LNG to fuel oil for power generation, given the time lag of around six to nine months for lower oil prices to filter through to oil-linked LNG contracts. Oil prices have shed more than ...

Hungary expects gas contract deal from Putin visit: PM Orban BUDAPEST: Hungary should be able to agree long-term gas shipment contracts with Russian President Vladimir Putin during the Russian leader's visit to Budapest next month, Hungarian Prime Minister Viktor Orban was quoted as saying on Friday by national news agency MTI. Orban, speaking to Hungarian public media journalists in Brussels, said that Hungary needed such an agreement and he trusted that he could agree with Russia about the main issues during Putin's visit, due on ...

FTSE records best week in three years; ABF leads LONDON: Britain's top shares index climbed to a four-month high on Friday and recorded its biggest weekly gain in three years, with Associated British Foods leading the market higher on encouraging retail sales data. However, the FTSE 100 index underperformed European markets, as shares of mining companies fell. The index ended 0.5 percent higher at 6,832.83 points, compared with 2 percent gains for some European indices, which benefited from the quantitative easing the European Central ...

Euro zone borrowing costs skid to new lows on ECB QE plan LONDON: Borrowing rates for euro zone countries collapsed to new record lows on Friday as investors snapped up government bonds based on the European Central Bank's quantitative easing shopping list. To boost the ailing euro zone economy and prevent deflation from setting in, the ECB said it will buy 60 billion euros of assets a month from March, focusing mainly on sovereign bonds. The 18-month quantitative easing programme is already surpassing initial expectations for 500-700 ...

Goldman Sachs slashes 2015 price f'casts for base metals, ups gold NEW YORK: Goldman Sachs in a report seen by Reuters on Friday slashed its 2015 price forecasts for several base metals due to cost deflation while raising their estimate for gold. The investment bank lowered its influential 2015 price forecasts for copper, aluminum, zinc, lead, nickel and platinum, the report showed. Copyright Reuters, 2015

Wall St dips weighed by UPS, miners; Starbucks shines NEW YORK: US stocks fell modestly on Friday, pressured by some disappointing results from major multinational companies, which offset optimism triggered by the European Central Bank's recent decision to buy bonds and boost euro zone growth. Materials shares weighed on the S&P 500, with bearish notes from Goldman Sachs dragging the sector lower. Goldman cut its price target on Freeport McMoRan by 42 percent to $18 and cut prices on other miners, while it slashed ...


Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
Arrow H.Seng 24,850.45 1.34
Arrow Sensex 29,278.84 0.94

ICT 2014

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