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Oil climbs to $86 as China oil demand rises LONDON: Brent crude oil rose to around $86 a barrel on Tuesday on news of robust Chinese oil demand, although gains were capped by oversupply and concerns over the health of the rest of the global economy.Implied oil demand in the world's largest energy consumer jumped 6.2 percent in September from August to 10.3 million barrels per day, the highest since February.China's factory output also beat expectations, rising 8 percent in September from a year earlier and boosting hopes of a strengthening recovery.Data on Tuesday showed China's economy expanded by 7.3 percent in the third quarter, above forecasts but its slowest pace since the global financial crisis."Oil is up in reaction to the Chinese demand figures," said Tamas Varga, analyst at London brokerage PVM Oil Associates."But this is a rally that should be sold into," Varga said. "The rise in implied Chinese oil demand may have more to do with ...


Thai govt to auction 207,899 tonnes of rice next week BANGKOK: Thailand will offer to sell 207,899 tonnes of rice from state stockpiles next week, a Commerce Ministry official said on Tuesday.The tender for sale will open on Oct. 28 at the foreign trade department after the announcement of eligible bidders the same day.Thailand has stockpiled around 18 million tonnes of rice, accumulated under an intervention scheme by the government of Prime Minister Yingluck Shinawatra who was ousted by the army in May. An audit ...

China's implied oil demand hits 7-month top in Sept BEIJING: China's implied oil demand in September jumped 6.2 percent from levels seen in August to hit a seven-month peak, as crude runs soared to their second highest point this year.A rise in demand from the world's top energy consumer could support crude prices that have plunged 23 percent so far in 2014 amid an amply supplied world market, although a slower global economic growth is expected to keep a lid on gains.Data on Tuesday ...

Malaysia Q3 cocoa grinding falls 13.7pc yr/yr SINGAPORE: Cocoa processing in Malaysia fell 13.7 percent from a year earlier to 61,428 tonnes in the third quarter, the Malaysian Cocoa Board (MCB) said on Tuesday. Cocoa grinding, an indicator of demand, was also down 5.6 percent from the previous quarter, MCB said, without giving further details. Malaysia is Asia's biggest cocoa grinder. Copyright Reuters, 2014

Gold steady near one-month high on slowing China growth SINGAPORE: Gold clung to overnight gains on Tuesday to trade near a one-month high as worries persisted over a slowdown in the global economy after China's growth eased in the third quarter to its weakest since the 2008/09 financial crisis.The weakness in Chinese growth, however, was not as bad as feared as the world's second-largest economy grew 7.3 percent between July and September from a year earlier, above the 7.2 percent forecast by analysts.The slightly ...

Iron ore edges up as Chinese mills replenish inventories SINGAPORE: Spot iron ore prices rose to above $81 a tonne as Chinese steel producers restocked, although the supply of available cargoes remained high and kept a lid on gains.Mills in China's Tangshan area in the northern Hebei province were buying more iron ore ahead of planned shutdowns at the start of November, said a trader in Shanghai.Some steel mills in Hebei - China's top steel producing province - have been asked to reduce or ...

Malaysian palm oil ticks up on lower output, firm soybeans SINGAPORE: Malaysian palm oil futures edged higher on Tuesday, recouping some of last session's losses with expectations of lower production of the tropical product and higher soybean prices underpinning the market. Chicago soybean futures rose 0.5 percent to snap a two-session losing streak, supported by the slow pace of harvesting in the United Stated and as dryness delayed planting in Brazil. Palm oil production in Malaysia and Indonesia is expected decline in the months ahead ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln