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India readies new steps to curb surge in gold imports NEW DELHI: India is likely to announce new measures to curb gold imports as early as Tuesday, a senior finance ministry source said, and they could include restrictions on a group of private trading firms that have been allowed to bring in the precious metal.Shipments to the world's second-largest gold buyer jumped fourfold in October from a year earlier to $4.18 billion, raising concern about India's fragile balance of payments."We are working on it. The measures to slow gold imports are almost ready and may be announced today or tomorrow," said the source, who declined to be named because of the sensitivity of the matter.Officials from the finance ministry and Reserve Bank of India (RBI) were considering whether to reimpose import restrictions on "star trading houses" that were eased earlier this year, the source said.The source did not elaborate but said any announcement could be made by the RBI. A ...


Copper slips on weak China property sector LONDON: Copper prices dipped on Tuesday, as disappointing property sector data from China raised concerns about the outlook for demand from the world's top metals consumer.Three-month copper on the London Metal Exchange (LME) was down 0.3 percent to $6,684.50 a tonne at 1032 GMT, slipping from a two-week high of $6,734 touched in the previous session.China's home prices fell for the second consecutive month in October from a year earlier, official data showed on Tuesday, ...

Palm ends higher on optimism of lower supply and stocks KUALA LUMPUR: Malaysian palm oil futures ended higher on Tuesday, as weakening production fuelled optimism that inventories of the tropical oil may be lower than initially expected when final numbers for October are reported.A Reuters survey of industry officials pegs Indonesia's inventories at 2.38 million tonnes at end-October from 2.50 million tonnes in September.Traders though said sluggish demand and bumper soybean supplies would limit gains.Crude palm oil output in Indonesia and Malaysia, which together supply ...

Gold gains 1.5pc to 2-1/2 week highs as dollar softens LONDON: Gold jumped 1.5 percent to a 2-1/2 week high above $1,200 an ounce on Tuesday as the dollar softened against the euro, due partly to better-than-expected German economic data.Spot gold was up 1.4 percent at $1,202.40 an ounce by 1110 GMT after earlier reaching its highest since Oct. 30 at $1,204.70. U.S. gold futures also jumped to a near three-week high of $1,204.10.The metal has rebounded 6.4 percent from a 4-1/2-year low of $1,131.85 ...

NY cocoa still targets $2,863 SINGAPORE: New York March cocoa still targets a resistance at $2,863 per tonne again, as its rebound from the Nov. 13 low of $2,780 has extended. The rebound is against a five-wave cycle that developed from the Sept. 25 high of $3,349. At least, the 38 percent of the cycle will be reversed, which means cocoa could rebound to about $2,997, the 38.2 percent Fibonacci retracement on the cycle. The immediate resistance is at $2,863, ...

CBOT soybeans to retest support at $10.19-3/4 SINGAPORE: CBOT soybeans January contract may retest a support at $10.19-3/4 per bushel as a rebound triggered by this level seems to have completed.The support is provided by the 38.2 percent Fibonacci retracement on the rise from the Oct. 1 low of $9.12-1/4 to the Nov. 12 high of $10.86-1/4.The rebound caused by this support failed to extend above the upper trendline of a falling wedge. The failure indicates this pattern has not finished, and ...

CBOT corn to rise to $3.83 SINGAPORE: CBOT Dec. corn may rise to a resistance at $3.83 per bushel, as it has found a support at $3.73-3/4.The support and the resistance are identified respectively as the 23.6 percent and the 38.2 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle that developed from the Oct. 1 low of $3.18-1/4.A break above $3.83 could signal the extension of the wave C towards $3.90-1/2, the 50 ...


 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln