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Palm slides for sixth session on external market weakness JAKARTA: Malaysian palm oil futures declined for a sixth session on Wednesday, as weakness in external markets sapped appetite for the edible oil while a weak ringgit offered little support.The benchmark palm oil contract for November on the Bursa Malaysia Derivatives exchange closed 2.05 percent lower at 1,867 ringgit ($439.81) a tonne.Traded volume stood at 50,582 lots of 25 tonnes each, well above the roughly 35,000 lots usually traded daily."Edible oil prices are weak," said a trader with a foreign commodities brokerage in Kuala Lumpur, referring to RBD palm oil and soy oil on China's Dalian Commodities Exchange. "I think external markets are overriding what is happening with the ringgit."A weak Malaysian ringgit makes palm cheaper for offshore buyers. In dollar terms, Malaysian palm prices have fallen around 30 percent since a year ago.Palm oil has sunk 12 percent this month as the tropical oil tracked other global markets lower ...


Copper resumes decline as China-led demand concerns persist LONDON: Copper fell by 2.5 percent on Wednesday, wiping out the previous session's gains, on concern that Beijing's interest rate cuts might not be enough to avert a China-led slowdown in the global economy. Global equities also gave up gains made on Tuesday after China's central bank lowered rates and the amount of reserves that banks must hold for the second time in as many months. Cash copper, however, traded near its highest premium against ...

Bangladesh rejects 52,000 tonnes of French wheat DHAKA: Bangladesh has rejected a 52,000-tonne cargo of French wheat as the grain failed to match tender specifications, a senior official with the state grains buyer said on Wednesday. The wheat, with 10 percent protein content, was sold at $243.69 a tonne, including CIF liner out, meaning the price includes shipping, insurance and discharge costs. "The cargo, carrying 52,000 tonnes of French wheat, has been rejected after the lab test confirmed the quality did not ...

Soybeans fall as Chinese stimulus recovery proves short-lived SYDNEY: US soybeans fell on Wednesday as gains made after China announced its latest economic stimulus proved short-lived.Corn was unchanged, extending two-day falls to beyond 1 percent, while wheat rose, rebounding from losses of more than 1.5 percent.Chicago Board of Trade November soybeans fell 0.2 percent to $8.76-1/2 a bushel, having firmed 0.43 percent on Tuesday.Soybeans recovered slightly on Tuesday from heavy losses this week when China cut interest rates and banks' reserve requirements for ...

Asian grain importers make rare forward buys on low prices SIEM REAP: Asian grain importers are locking in forward purchases as they take advantage of a sharp drop in grain prices, with some buyers booking shipments right up to the middle of next year in an unusual move, traders said on Wednesday.Thailand has recently bought 300,000 tonnes of feed wheat from the Black Sea region for shipment between January and April at around $208-$210 a tonne, including cost and freight, they added. Buyers in Indonesia ...

Bangladesh tea prices fall for 6th week on ample supply DHAKA: Tea prices in Bangladesh fell for a sixth straight week at the weekly auction on Tuesday as increased volumes, the highest of the season so far, put a lid on prices.Bangladeshi tea fetched an average 187.25 taka ($2.5) per kg at the 16th auction of the current marketing season, down from 190.29 taka at the previous week's sale, an executive with National Brokers said.The latest offering was the largest of the season so far, ...

Spot gold to test support at $1,131 SINGAPORE: Spot gold may test a support at $1,131 per ounce, with a good chance of breaking below this level and falling more towards the next support at $1,110.The bounce from the July 24 low of $1,077 has ended around a resistance at $1,165, the 38.2 percent retracement on the fall from the Jan. 22 high of $1,306.20 to $1,077.The metal not only failed to break the resistance, but also failed to break a trendline ...


 



 
Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61





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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln