Wednesday 30 July 2014
 
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Egypt raises key rates days after subsidy cuts

Egypt's central bank raised key interest rates on Thursday in what was seen as an attempt to curb inflation pressures less than two weeks after the government slashed subsidies on fuel and electricity. The central bank raised

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India seeks 80,000bpd extra oil from Iraq

India has sought up to 80,000 barrels per day (bpd) extra oil from Iraq in 2012/13, days after placing a similar request with top exporter Saudi Arabia to meet demand from its expanding refineries. India now buys more than 340,000 bpd oil

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Opec cuts oil demand view, supply gap shrinks

Opec cut its forecast for global oil demand growth next year because of a worsening economic outlook and said a disappointing economic performance in top consumer the United States could further weigh on fuel use.  The Organization of

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Goldman cuts NBK price target

Low loan growth due to delays in implementing development projects could affect National Bank of Kuwait (NBK) in the near term, Goldman Sachs said and cut its price target on the lender's stock. The brokerage, which lowered the price t

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Saudi confirms oil supply cuts with Asia curbs

Top oil exporter Saudi Arabia provided the most visible evidence yet of adhering to Opec deal to curb output by telling refiners in Asia that it would cut December supplies by 5 per cent, term lifters said on Monday. State oil firm Saudi A

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Bahrain mulls more price cuts

Major customs tariff cuts on food, medicines and building materials - plus extra tax reductions on other consumer goods are being considered by the Bahrain Cabinet. Prime Minister Shaikh Khalifa bin Salman Al Khalifa, who chaired yesterda

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ADCB slashes mortgage rate

Abu Dhabi Commercial Bank (ADCB), the emirate's third-largest lender by market value, said it was cutting its base lending rate by 150 basis points to 4 per cent in a move that may spur property prices. "The ADCB Retail Base Rate (RBR) is

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US rate cuts trigger HK property boom

When first-time buyer Judy Kwan heard a flat was for sale in a street she admired in Hong Kong's Wanchai district, she snapped it up within 24 hours without even seeing it, inheriting a tenant she had never met. Now she wants to buy anothe

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China cuts business with Iranian banks

Chinese banks have cut back business with Iranian banks due to US pressure over Tehran's disputed nuclear programme, a senior Iranian Foreign Ministry official was quoted as saying in comments published on Saturday. The United States, whic

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Fed rate cut hopes perk up stocks

Expectations of a further cut in US interest rates buoyed the stock markets across Asia on Tuesday. A majority of Wall Street dealers polled by Reuters expect the US Federal Reserve to cut benchmark interest rates by 50 basis point on Wed

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