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Palm snaps eight consecutive weekly losses JAKARTA: Malaysian palm oil futures ended higher on Friday, posting their first weekly gain after eight consecutive weekly declines, on the back of other commodity markets and a weaker ringgit.The benchmark palm oil contract for November on the Bursa Malaysia Derivatives market rose 3.4 percent to 1,994 ringgit ($475.67) a tonne, its biggest increase since June 1. That followed a 3 percent gain in the previoussession.Traded volume stood at 55,024 lots of 25 tonnes each, well above the roughly 35,000 tonnes average daily trading volume."The market is going for further retracement after an oversold palm," said a trader in Kuala Lumpur. "In the external market, soy oil, crude oil and palm oil in Dalian are up sharply, our market is following."The palm benchmark hit its lowest since March 2009 on Tuesday, but later recovered to post a 0.3 percent gain for the week.Wang Tao, a Reuters market analyst of commodities ...


German 2015 wheat crop falls 5pc after large 2014 harvest HAMBURG: Germany's 2015 wheat harvest will fall by about 5 percent to 26.4 million tonnes compared with last year when there were record yields in some areas. But the crop had nevertheless achieved a good average size, the German agriculture ministry said on Friday in its first provisional crop forecasts. A fall had been generally expected following an exceptionally large harvest in 2014. But the 2015 estimate beat the 25.70 million tonnes forecast by Germany's ...

Healthy EU wheat harvest nearly done; record French crop HAMBURG: European Union wheat harvesting is almost finished with good average crops in the main producers, and with a record in the largest grower France, observers said on Friday. French growers group AGPB said France's soft wheat harvest would be a new record, surpassing 40 million tonnes, up from 37.5 million tonnes last year after highest-ever yields were achieved. "Despite the deep concern caused by the heatwave temperatures, we have had some nice surprises," said ...

Spot gold to rise towards $1,137-$1,143 range SINGAPORE: Spot gold is expected to rise towards a range of $1,137-$1,143 per ounce, as indicated by a double-bottom and a Fibonacci retracement analysis.The double-bottom formed around the Aug. 26 low of $1,117.35 and suggests a target at $1,143, the 50 percent Fibonacci retracement on the fall from the Aug. 21 high of $1,168.40 to $1,117.35. However, this pattern could only be confirmed when gold climbs above $1,131. Support will be at $1,125, the 14.6 ...

LME aluminium to edge up to $1,590 SINGAPORE: LME aluminium may edge up to $1,590 per tonne, to complete a rebound from the Aug. 24 low of $1,506.The rebound consists of three waves, with the current wave c likely to travel a similar distance as the first wave labelled a, to arrive at $1,590, the 123.6 percent Fibonacci projection level of a bigger wave C, which developed from the July 15 high of 1,729.50.A break below $1,547, the 161.8 percent level, could ...

Shanghai copper to seek support at 39,050 yuan SINGAPORE: Shanghai copper may seek a support at 39,050 yuan per tonne, before retesting a resistance at 39,540 yuan, as suggested by its wave pattern and a Fibonacci projection analysis.The metal is riding on a wave c, the third wave of a three-wave cycle that developed from the Aug. 24 low of 37,530 yuan. This wave could travel to 39,990 yuan, its 100 percent Fibonacci projection level.An inverted head-and-shoulders forming between Aug. 18 and Aug. ...

Palm oil to rise to 2,024 ringgit SINGAPORE: Palm oil may rise more to 2,024 ringgit per tonne, following the completion of a five-wave cycle. The cycle started at the July 3 high of 2,285 ringgit. A Fibonacci retracement analysis reveals palm oil has climbed above a resistance at 1,963 ringgit, the 23.6 percent level.The next resistance will be at 2,024 ringgit, the 38.2 percent level. Indeed, palm oil may rise to 2,074 ringgit, the 50 percent level, which is near the ...


 



 
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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