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Oil hit by biggest decline since November on Fed plan NEW YORK: Brent crude oil futures dropped $4 on Thursday in the biggest one-day decline since November as part of a cross-market rout sparked by the US Federal Reserve's Chairman plan to wind down monetary stimulus.Crude prices were under pressure throughout the session, with additional bearish sentiment after China tightened credit even as factory activity in the world's No. 2 oil consumer hit a nine-month low.Gold hit a 2-1/2 year low as commodities suffered the biggest sell-off in a year and a half, and the S&P 500 fell more than 2 percent on Thursday as markets feared the slowing of the monetary stimulus that has bolstered markets following comments from Fed Chairman Ben Bernanke on Wednesday.Against a background of ample physical oil supplies, analysts said there was little immediate support for crude to stem the slide."You simply do not have the physical tightness to limit the downside during periods when ...


ICE coffee, sugar post biggest losses this year amid selloff NEW YORK/LONDON: ICE arabica coffee tumbled to a near four-year low in its biggest loss since July and raw sugar futures dropped the most since October, under pressure from the weakening Brazilian real and a broad commodities and financial markets selloff.ICE cocoa futures dropped to a two-month low, as world markets extended losses.Both ICE arabica coffee and raw sugar futures posted their biggest daily losses this year as the tracked with the tumbling Brazilian real, ...

Grains down on macroeconomic worries, weather outlooks CHICAGO: US grain prices fell on Thursday amid a broad-based commodity selloff and a firming dollar, a day after the US Federal Reserve signaled it was ready to slow down the pace of bond purchases.The Fed news sent shock waves across all the financial markets. Wall Street stocks fell more than 2 percent, US crude oil fell more than $3 a barrel and gold prices tumbled to their lowest levels in more than 2-1/2 years.Additional ...

Gold dives 5pc in global market rout on Fed fears NEW YORK/LONDON: Gold sustained one of its biggest routs since the 2008 economic crisis on Thursday, plunging 5 percent in broad cross-asset selling a day after the US Federal Reserve gave its most explicit signal yet that it plans to bring the era of easy money to an end.After breaking below a key recent low at $1,320 an ounce, bullion's losses accelerated to their lowest level in nearly three years. The yellow metal's 5 percent ...

Euro coal futures hit new 39-month low as power prices wilt LONDON: European coal futures for 2014 delivery fell to a new 39-month low at $86.05 a tonne on Thursday, sounding a shriller alarm for producers as commodities prices posted big losses in view of renewed fears about global economic growth.API2 coal futures for delivery in 2014 fell almost a dollar to trade at $86.05, after sliding through a technical support level at $86.60, heaping further pressure on high-cost, low margin coal producers.The last time coal ...

EU wheat falls with commodity sell-off PARIS: European wheat futures edged lower on Thursday as part of a wide global sell-off in commodities including the Chicago grain markets due to economic concerns after the US Federal Reserve said it would begin to scale back stimulus measures.Traders said a 0.6 percent fall in the euro against the dollar was supportive.Benchmark November milling wheat on the Paris futures market was down 0.5 percent at 199.50 euros ($260) a tonne by 1603 GMT after ...

Cotton futures post 4th straight loss as commodities sell off NEW YORK: ICE cotton continued its slide on Thursday during a broad-based sell-off as the US Federal Reserve's plan to ease its stimulus program and weak Chinese economic data prompted concern over prospects for global economic growth.The benchmark December cotton contract on ICE Futures US fell 1.24 cents, or 1.4 percent, to 85.36 cents per lb, down for the fourth straight session and headed for the third-month contract's biggest weekly loss since June 2012.The Fed's ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyDecember 22, 2014
Reserves $14.042 bln