NST Online Business Times : latest
NST Online Business Times : latest |
| Sudan, South Sudan vow to end oil row Posted: 01 Jul 2013 07:02 PM PDT KHARTOUM: The vice presidents of Sudan and South Sudan pledged on Monday to resolve a conflict over Juba's alleged support for rebels that is threatening cross-border oil flows, but failed to offer any concrete solutions. Last month, bilateral ties hit a new low when Sudan said it would halt South Sudanese oil exports passing through the north for shipment unless Juba ended support for rebels operating across the shared border. South Sudan denies the claims. To defuse the situation, South Sudan's Vice President, Riek Machar, flew to Khartoum for the first high-level meeting since Sudan's threat to close two cross-border pipelines. After two days of talks between Machar and Sudan's Vice President, Ali Osman Taha, both sides said they wanted to implement a raft of deals allowing southern oil exports to pass through Sudan and to secure their disputed border.
Machar, who was hugging some Sudanese officials, said both countries wanted to build up trust to make the agreements reality. "We are happy with the outcome of the talks and if there is any problem, we want to solve it without a mediator," he said. The two did not say whether oil flows would stop. A joint communique only said they had agreed not to support rebels on the other's territory, without proposing any steps or referring to Sudan's threat to halt oil flows. The neighbours, which fought one of Africa's longest civil wars, ending in 2005, had agreed in March to resume oil flows. Juba had shut its entire crude production in January 2012 when tensions over pipeline fees and disputed territory escalated. Their latest dispute threatens to hit supplies to Asian buyers such as China National Petroleum Corp, India's ONCG Videsh and Malaysia's Petronas, which run the oilfields in both countries. Diplomats said they doubted Sudan would close the two cross-border export pipelines because its economy has been suffering without South Sudan's pipeline fees. Oil used to be the main source for Sudan's budget until the south's secession in July 2011, when Khartoum lost 75 per cent of its oil production and its status as an oil exporter overnight.-- Reuters |
| KL shares open marginally higher Posted: 01 Jul 2013 07:05 PM PDT Share prices opened marginally higher today but eased thereafter in the first 30 minutes due to light selling activities. At 9am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.25 points higher at 1,776.39 but eased 0.4 of a point to 1,774.68 at 9.30am. Dealers said the market rose initially helped by the steadier close on US equities with sentiment boosted by news that the global economy remained on a recovery track. They said that there were some spill-over effects from the positive external vibes on the Malaysian bourse today, but the market thereafter paused for a breather after a rebound for four straight days.
Gainers led losers 203 to 125, while 185 counters were unchanged, 1,052 untraded and 25 others were suspended in the first half hour. Volume stood at 164.235 million shares worth RM153.666 million. Among actives, Ingenuity Consolidated and MAS rose half-a-sen each to 9.5 sen and 31.5 sen, respectively. As for heavyweights, Maybank edged up six sen to RM10.42, CIMB
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