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Commodity markets buoyed by mounting Ukraine crisis LONDON: Crude oil and wheat prices were lifted this week by intensifying concerns over the Ukraine crisis, while gold advanced as many investors sought shelter from geopolitical tensions.Many commodities also rose on bright economic growth data in the United States, a top consumer of many raw materials including crude oil.The country's economy expanded at an annual rate of 4.2 percent in the second quarter, up from the prior growth estimate of 4.0 percent, official data showed.OIL: Global oil prices climbed this week, supported by renewed Russia-Ukraine tensions and stronger-than-expected US economic growth, analysts said.The market also gained ground this week on the back of elevated supply risks linked to simmering tensions in oil producers Iraq and Libya. However, gains were capped by abundant crude oil supplies."The week started with... elevated risks to oil supply with rising tensions in Libya and Russia," said analyst Rebecca Hermolle at energy consultancy Inenco."On Thursday, ...


German 2014/15 sugar output to rise to 4.39mn tonnes HAMBURG: Germany's refined sugar production in the new 2014/15 season is forecast to rise 0.9 million tonnes on the year to 4.39 million tonnes, Germany's Agriculture ministry said on Friday in its first harvest forecast. The ministry said it was using the estimate given by Germany's sugar industry association WVZ on Aug. 21 as the basis for the forecast. German farmers have planted about 374,400 hectares of sugar beet for harvesting in the new season, ...

Turkey tenders to buy up to 200,000 tonnes milling wheat HAMBURG: Turkey's state grain agency TMO has issued an international tender to purchase and import up to 200,000 tonnes of milling wheat, European traders said on Friday. The new tender follows a series of large import purchases by Turkey and closes on Sept. 16, traders said. Turkey is among countries affected by the Middle East's driest winter in several decades, which reduced crop yields and also threatens to worsen food security in its war-torn neighbour ...

Wheat edges up with Ukraine conflict seen as export threat LONDON: Wheat futures rose on Friday and were on track for the first monthly gain since April, boosted by concerns that conflict in Ukraine may pose a threat to exports from the Black Sea region. Soybeans edged up and corn prices eased slightly with the upside capped by the prospect of bumper crops in the US Midwest where the weather remains near perfect. December wheat on the Chicago Board of Trade rose 0.6 percent to ...

Palm drops to 5-1/2 year low, biggest monthly loss since Sept 2012 KUALA LUMPUR: Malaysian palm oil futures slid to a five-and-a-half year low on Friday due to fears of rising vegetable oil supply and lower demand, resulting in its biggest monthly loss since September 2012.The benchmark November contract on the Bursa Malaysia Derivatives Exchange shed 2.5 percent to 1,930 ringgit ($613) per tonne by the close. For the week, the contract fell 3.5 percent to post its fourth straight week of losses.Prices in August have plunged ...

Gold edges lower as European stocks recover lost ground LONDON: Gold eased on Friday, paring its narrow gains for the month, as European shares recovered some of the previous day's declines and demand for physical metal waned on this week's pick-up in bullion prices.Investors remain on edge over tensions between Russia and Ukraine after Ukraine said on Thursday that Russia had moved troops into the country. However, the impact of the escalating conflict has not been enough to sustain gold price increases. Spot gold ...

Copper steady; heads for biggest monthly drop since March SYDNEY/LONDON: Copper edged higher on Friday as the euro strengthened, but prices were still on track for their biggest monthly loss since March on worries that rising tensions in Ukraine could set back global growth and hit metals demand. International news is dominating metals trade during a summer lull that has been exacerbated by tougher credit conditions in China as banks have tightened risk controls since a suspected financing fraud in China's Qingdao port in ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln