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Oil in choppy trade after U.S. stock drawdown; focus on glut| Reuters

Feb 10, 2016 at 23:45 | Source: FirstPost

NEW YORK Oil prices seesawed in choppy trade on Wednesday, with U.S. crude slipping and Brent paring gains as worries about a global supply glut offset data showing a surprise drop in U.S. crude stockpiles.Oil prices rallied early, up for the first t...

Trade, security cooperation to be focus of Modi-Al Nahyan talks tomorrow

Feb 10, 2016 at 16:15 | Source: FirstPost

New Delhi: Boosting trade ties by ramping up UAE's investment in India and stepping up defence and security cooperation in the wake of rising threat of IS are set to be the major focus of talks between Abu Dhabi's Crown Prince Sheikh Mohamed bin Zaye...

Iraq's troubled finances slow efforts to rebuild Ramadi| Reuters

Feb 10, 2016 at 04:45 | Source: FirstPost

BAGHDAD Strain on Iraq's budget from falling oil prices is delaying the removal of Islamic State explosives in Ramadi and the restoration of basic services needed for displaced civilians to return to the western city.The army declared victory in Dece...

Wall Street cuts losses late to end tad lower| Reuters

Feb 10, 2016 at 04:30 | Source: FirstPost

U.S. stocks ended a volatile session slightly lower on Tuesday as a late-day rally led by materials and healthcare shares offset another big drop in oil prices.Energy was the day's weakest sector, with the energy index .SPNY falling 2.5 percent as U....

Wall Street ends slightly lower after late rally| Reuters

Feb 10, 2016 at 03:45 | Source: FirstPost

U.S. stocks ended a volatile session barely lower on Tuesday as a late-day rally led by materials and healthcare shares offset another big drop in oil prices.Energy was the day's weakest sector, with the index .SPNY falling 2.5 percent as U.S. crude ...

Oil down 8 percent on gloomy U.S., global demand outlooks| Reuters

Feb 10, 2016 at 02:45 | Source: FirstPost

NEW YORK Oil prices slid for a fourth straight session on Tuesday and teetered close to 12-1/2-year lows hit last month, after weak demand forecasts from the U.S. government and the western world's energy watchdog, while weak equities also pressured ...

Wall Street rallies late; biotechs, materials boost| Reuters

Feb 10, 2016 at 02:30 | Source: FirstPost

U.S. stocks rose in a late-day rally on Tuesday afternoon, helped by gains in biotechs including Gilead (GILD.O) and in materials shares.Shares of Gilead rose 2.7 percent at $87.60, while Allergan (AGN.N) added 2.2 percent at $272.10. The Nasdaq Biot...

Nikkei posts biggest drop in three years as global growth fears hit banks| Reuters

Feb 10, 2016 at 02:15 | Source: FirstPost

TOKYO Japan's Nikkei share average posted its biggest daily drop in nearly three years on Tuesday, with banks taking the brunt of the sell-off, while a stronger yen dragged down stocks across the board.The Nikkei ended 5.4 percent lower at 16,085.44 ...

Shares extend losses on fears over global growth, banks| Reuters

Feb 10, 2016 at 01:30 | Source: FirstPost

NEW YORK Stock indexes worldwide tumbled for the third straight session on Tuesday on fears of slowing global growth, with particular concern around the health of the banking sector, while benchmark U.S. Treasury yields hit fresh one-year lows. The E...

Oil slumps 7 percent ahead on expected U.S. crude build, slowdown fear| Reuters

Feb 10, 2016 at 00:45 | Source: FirstPost

NEW YORK Oil prices fell 7 percent on Tuesday as equity markets remained weak, forecasts called for record high U.S. crude stockpiles to grow more, and the latest global energy demand outlooks did not look strong enough to eliminate the swelling glut...

Essar Oil says Rosneft stake buy in advanced due diligence | Reuters

Feb 10, 2016 at 00:30 | Source: FirstPost

MUMBAI Russia's top oil producer Rosneft is still carrying out due diligence to buy a stake in Essar Oil Ltd, the Indian group which runs India's second biggest private sector refinery said on Tuesday.Rosneft signed a preliminary deal in July last ye...

IEA sees global oil glut worsening, OPEC deal unlikely| Reuters

Feb 10, 2016 at 00:15 | Source: FirstPost

LONDON The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said.The agency, which coordinates ene...

Oil slumps 6 pct ahead on expected U.S. crude build, slowdown fear| Reuters

Feb 09, 2016 at 23:45 | Source: FirstPost

NEW YORK Oil prices fell nearly 6 percent on Tuesday as equity markets remained weak and forecasts of swelling record high U.S. crude stockpiles faced expectations that global demand will not grow quickly enough to erase the overhang of crude any tim...

Wall St. flat as tech rebound offsets energy, financials| Reuters

Feb 09, 2016 at 23:30 | Source: FirstPost

Wall Street bounced between gains and losses in choppy trading on Tuesday, as a decline in energy and financial sectors offset gains in materials and technology stocks.Four of the 10 major S&P sectors were lower, with energy .SPNY down 1.7 percen...

Oil down 3 pct ahead on expected U.S. crude build, slowdown fear | Reuters

Feb 09, 2016 at 23:15 | Source: FirstPost

NEW YORK Oil prices fell almost 3 percent on Tuesday as equity markets remained weak and forecasts of swelling record high U.S. crude stockpiles faced expectations that global demand will not grow quickly enough to erase the overhang of crude any tim...

Why a much lower nominal GDP growth has upset govt's fiscal deficit math

Feb 09, 2016 at 16:17 | Source: FirstPost

The Central Statistics Office (CSO) has published the economic growth numbers for the period October to December 2015. It has also put out the economic growth projection for the current financial year i.e. 2015-2016 (April 1, 2015 to March 31, 2016)....

Charts: Why economists doubt 7.6% GDP growth estimate for FY16

Feb 09, 2016 at 08:32 | Source: FirstPost

By Dinesh Unnikrishnan and Kishor KadamIndias Gross Domestic Product (GDP), for fiscal year 2016 has been revised upwards from earlier estimates of 7-7.5 per cent projected in mid-year economic review to 7.6 percent and as compared with revised estim...

Charts: Why economists take 7.6% GDP growth estimate for FY16 with a sack of salt

Feb 09, 2016 at 07:38 | Source: FirstPost

By Dinesh Unnikrishnan and Kishor KadamIndias Gross Domestic Product (GDP), for fiscal year 2016 has been revised upwards from earlier estimates of 7-7.5 per cent projected in mid-year economic review to 7.6 percent and as compared with revised estim...

Oil prices jump, shrug off equity slump and glut concerns| Reuters

Feb 09, 2016 at 07:30 | Source: FirstPost

TOKYO Crude oil prices jumped as much as 2 percent in early Asian trade on Tuesday, shrugging off big drops in Japan's stock market and eroding some of the previous session's losses that were driven by festering concerns about global oversupply.U.S. ...

Asia stocks slip, Japan rebounds in holiday-thinned trade| Reuters

Feb 09, 2016 at 02:45 | Source: FirstPost

TOKYO Asian shares pared losses on Monday as a weaker yen helped Japan's Nikkei snap a four-day losing streak, but trade was thin with many regional markets closed for the Lunar New Year holiday.Wall Street's losses on Friday curbed overall sentiment...

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