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Copper hits 2-week high on deficit forecast, rising oil LONDON: Copper hit a two-week high on Wednesday, driven by rising oil prices and an industry group's forecast for a deficit of the metal next year, although the overall demand outlook remained weak. The rise in oil prices made commodity basket funds that include copper more attractive and powered a rally in global equities, seen by some as a proxy for economic growth. The International Copper Study Group said late on Tuesday that it expects the global copper market will see a deficit of 130,000 tonnes in 2016, reversing its prior estimate of a 230,000-tonne surplus. Still, concerns about the global economy continue to weigh on the outlook for copper demand. The International Monetary Fund cut its global growth forecasts for a second time this year on Tuesday, citing weak commodity prices and a slowdown in China. China consumes nearly half the world's copper. On Wednesday, data also showed German ...

Rice import deal with Vietnam just contingency plan HANOI/JAKARTA: Officials at Indonesia's state food buyer said on Wednesday that no plan had been made to ship rice from Vietnam and that the two countries had only agreed on a contingency plan to guard against possible shortages resulting from dry weather. Late on Tuesday, a Vietnamese government department reported it had won a tender to supply nearly 1 million tonnes of the grain to Indonesia, as the archipelago struggles with a prolonged drought threatening ...

Malaysian palm oil falls on stronger ringgit KUALA LUMPUR: Malaysian palm oil futures fell on Wednesday for a second consecutive trading session on a strengthening ringgit and after its rally last month shifted demand to Indonesia.The benchmark December contract fell 2.23 percent to 2,319 ringgit ($550.18) a tonne at the midday break on the Bursa Malaysia Derivatives exchange. It had reached a near 15-month high of 2,444 ringgit on Tuesday."The market is falling due to the stronger ringgit today," said a Kuala ...

Sugar eases, near 7-month high, cocoa rises LONDON: ICE raw sugar futures edged down on Wednesday, retreating from a seven-month peak touched earlier this week and pressured by risks that India could renew export subsidies. Cocoa futures rose on technical buying, with a strong pound triggering buying of the New York market, while worries over dry weather and political risk in top grower Ivory Coast underpinned prices. Coffee futures were little changed in light volumes.March raw sugar was down 0.05 cent, or ...

French July-Aug wheat exports outside EU up 24pc PARIS: French soft wheat exports outside the European Union reached 749,164 tonnes in August, led by shipments to top market Algeria, confirming a brisk start to the 2015/16 export season, customs data showed on Wednesday. The August volume took exports since the start of the season on July 1 to 1.43 million tonnes, 24 percent higher than in the year-earlier period, the data showed. However, traders say the strong activity in the opening weeks of ...

India's August tea output drops 7pc y/y MUMBAI: India's tea production in August fell nearly 7 percent from a year earlier to 152.71 million kg due to lower plucking in the top producing north-eastern state of Assam, the state-run Tea Board said. Production in Assam dropped 11 percent from a year earlier to 88.52 million kg due to heavy rainfall that hit plucking, it said in a statement on Wednesday. India, the world's second biggest tea producer, exports CTC (crush-tear-curl) grade mainly ...

Spot gold may end gain below $1,155 SINGAPORE: Spot gold may end its current gain below a resistance at $1,155 per ounce, as indicated by a triangle and a Fibonacci retracement analysis.The pattern developed from July 24 and its upper trendline may limit the current bounce. A break above the trendline may not lead to any impressive gain, as gold will face a resistance at $1,555, the 14.6 percent Fibonacci retracement on the rise from the July 24 low of $1,077 to ...


Index Closing Chg%
Arrow DJIA 17,081.89 0.29
Arrow Nasdaq 4,796.61 0.87
Arrow S&P 2,003.69 0.68
Arrow FTSE 6,342.28 0.45
Arrow DAX 10,032.82 0.86
Arrow CAC-40 4,643.38 0.97
Arrow Nikkei 18,234.74 1.11
Arrow H.Seng 22,600.46 0.57
Arrow Sensex 26,846.53 0.21

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln