Economy

South Sudan oil production down 29 pct

Fighting in South Sudan has cut production from the country’s lifeline oil fields by about 29 percent, the press secretary to President Salva Kiir said in Khartoum Sunday. “South Sudan is still getting more than 175,000 barrels a day,” said Ateny Wek Ateny. That amount is down from 245,000 barrels per day before fighting began in mid-December between forces supporting ...

Mideast banking fees grow by 20 pct in 2013

Investment banking fees in the Middle East grew 20 percent last year, data compiled by Thomson Reuters showed, as capital markets activity continued to recover gradually from the global financial crisis. Total fees rose to $722 million in 2013, the highest since 2010, from $603 million in 2012 – though they were still only about half of the 2007 record ...

Oman plans to make its first sovereign issue of Islamic bonds

Oman plans to make its first sovereign issue of Islamic bonds, a 200 million rial ($520 million) issue, by mid-2015 to help finance a budget deficit caused by the plunge of oil prices, the head of its central bank said on Sunday. “The issue will be through the central bank for the local market,” central bank executive president Hamood Sangour ...

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