Oil & Currencies

Greek bank closure costs economy 3 billion euros
19 July 12:58 PM Greek bank closure costs economy 3 billion euros
Mubasher: The cost of a three-week closure of Greek banks and capital controls in Greece has been estimated at nearly 3 billion euros, excluding the tourism sector. Even if the credit system is set to return gradually to normal, the market will …
Emerging markets have $120bn outflows, JPMorgan says
18 July 02:27 PM Emerging markets have $120bn outflows, JPMorgan says
Mubasher: Capital outflows from developing countries amounted to $120 billion in the previous quarter, the largest since 2009, due to an exodus from China amid concern over the strength of the country’s economy, said JPMorgan. In the first …
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17 July 09:44 PM Brent crude rises 13 cents to $57.05/brl
Mubasher: Oil prices stabilised amid lackluster trading in Asia, as Britain's North Sea Buzzard oilfield ramped up after an outage on Wednesday. Confidence improved after the EU agreed to a €7bn, three month bridging loan for Greek. This will …
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17 July 09:43 PM Potential Greek exit from euro zone still has major risks, says El-Erian
Mubasher: Despite reaching a third bailout for Greece, there are major risks about Athens' potential exit the euro zone, said Mohamed A. El-Erian, chief economic advisor at German's Allianz. He added that the short term road map agreed upon …
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17 July 11:48 AM ECB boosts emergency lending to Greek banks
Mubasher: European Central Bank (ECB) President Mario Draghi said Thursday the bank would grant more emergency loans to Greek banks. The ECB raised its emergency-lending ceiling to Greek banks by 900 million euros ($989 million), putting the total …
Optional[Photo Credit: Arabianeye - Reuters]
26 June 02:57 PM Gold edges off two-week low
Gold prices rebounded from their lowest level in two weeks on Friday amid caution ahead of crunch talks on Greece this weekend. Spot gold was up 0.1% at $1,173.90 an ounce at 1142 GMT, while U.S. gold futures for August delivery were up $1.40 an …
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