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Palm hits near 3-week low amid declining exports JAKARTA: Malaysian palm oil futures declined to their lowest in nearly three weeks on Monday as traders sold positions after data showed exports fell this month, and as competing oil markets weighed on prices.By the midday break, the benchmark palm oil for October delivery on the Bursa Malaysia Derivatives Exchange had slipped 0.92 percent to 2,158 ringgit ($565.96) a tonne. The contract hit 2,144 ringgit, its lowest since July 8, earlier in the session.Total traded volume stood at 18,621 lots of 25 tonnes each, above the average 13,500 lots traded by midday."The market is weak. The export figure is bearish," said a trader with a foreign commodities brokerage in Kuala Lumpur, adding that competing markets also fell."Every indicator points to the market being weak, and our palm will continue the movement down."Export data released by cargo surveyor Intertek Testing Services (ITS) for July 1-25, showed a nearly 18 percent decline ...


Australia's Roy Hill iron ore mine said to be facing short delay SYDNEY: The start-up of the $10 billion Roy Hill iron ore mine under construction in Australia has been postponed until the second week of October because of bad weather and safety problems earlier this year, according to a media report.The mine, 70 percent owned by Australian billionaire Gina Rinehart's private Hancock Prospecting and the last of the mega-projects planned during a boom that is now over, was originally targeting a September start.The Australian Financial Review ...

CBOT wheat targets $4.88-1/4 SINGAPORE: CBOT Sept. wheat may break a support at $5.06 per bushel and then fall to the June 19 low of $4.88-1/4, as indicated by a Fibonacci retracement analysis.The support is provided by the 86.4 percent Fibonacci retracement on the rise $4.88-1/4 to the June 30 high of $6.18, working as the last barrier towards $4.88-1/4.The uptrend from the May 5 low of $4.69-1/4 has adopted a corrective wave structure, suggesting the low at $4.88-1/4 ...

Jordan issues tender to buy 100,000 tonnes feed barley HAMBURG: Jordan's state grain buyer has issued an international tender to purchase 100,000 tonnes of animal feed barley to be sourced from optional origins, European traders said on Monday.The tender deadline is Aug. 4, traders said.The barley is sought in a range of shipment combinations in 50,000 tonne consignments between Nov. 1 and Dec. 15, they said. Barley was sought from the 2014 or 2015 harvests, they said. In its last reported barley tender on ...

NY sugar to drop to 10.98 cents SINGAPORE: New York Oct. sugar is expected to drop to 10.98 cents per lb, as it has cleared a support at 11.33 cents.The support was provided by 61.8 percent Fibonacci projection levels of a downward wave c, the third wave of a three-wave cycle that developed from the May 13 high of 13.90 cents.The next support will be at 10.98 cents, the 76.4 percent level. The wave c is capable of travelling to 10.42 cents, ...

Gold rises above 5-1/2-year low as dollar sags, but confidence shaky MANILA: Gold climbed above $1,100 an ounce on Monday as a weaker dollar helped it distance from its lowest level since 2010, although investors are not convinced that a meaningful recovery is at hand amid a looming hike in US interest rates.The Federal Reserve will hold a two-day meeting that ends on Wednesday at which policymakers are likely to send more signals pointing to a rate rise later in the year as the US economy ...

London copper languishes near 6-year low on demand concerns MELBOURNE: London copper fell on Monday to trade near its weakest in six years as concerns over demand in top user China were compounded by a seasonal slowdown in manufacturing activity over the summer and ample supply. However, the fall led to signs of bargain-hunting, with some analysts suggesting low prices could spur makers of copper products into replenishing inventories."It is also possible that China's State Reserve Bureau will restock at the current low prices," ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln