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Iron ore eyes worst week in two months, Shanghai rebar near record low SINGAPORE: Shanghai rebar steel futures dropped to near record lows on Friday on weak demand that has spurred Chinese producers to cut production, with the benchmark price of raw material iron ore set for its biggest weekly fall in two months. Steel stocks in the world's biggest consumer fell to 12.78 million tonnes last week, according to industry consultancy Mysteel, the lowest since December 2012 as traders continued to run down inventory in response to seasonally slow demand. "Traders are still destocking and I expect this will continue until the end of August. It's the weak season and construction is really slow," said Helen Lau, analyst at UOB-Kay Hian Securities in Hong Kong. Lau said weak financing conditions are also discouraging any restocking.A gauge of money flowing into China's economy fell to the lowest since October 2008. The most-traded rebar contract for delivery in January on the Shanghai Futures Exchange ...


Corn steady, set for biggest weekly gain in four months SYDNEY/LONDON: US new-crop corn futures were steady on Friday, poised to record the biggest weekly gain in four months, as a lower-than-expected official crop forecast supported prices. Soybeans fell, under pressure from an expected record US crop, while wheat was set to post its biggest weekly loss in five weeks. Chicago Board of Trade December corn futures were unchanged at $3.73-1/2 a bushel by 1105 GMT. Corn rose more than 1 percent in the previous ...

Iraq rejects offers in tender for 30,000 tonnes of rice BAGHDAD: Iraq's state grains buyer has rejected offers on an international tender to buy at least 30,000 tonnes of rice, a trade ministry official said on Friday. The closing date for the tender was Aug. 11 and offers stayed valid until Aug. 15. "Only three companies submitted offers with high prices, which we decided to reject. A new rice tender will be issued next week," said the official. Iraq made no purchase in a previous ...

Gold edges higher after soft European, US data LONDON: Gold edged up towards $1,315 an ounce on Friday, heading for a second weekly gain, after soft US and European economic data fuelled expectations that central banks would stay committed to ultra-loose monetary policy, pushing bond yields lower. Gains were capped, however, by easing concerns over unrest in Ukraine and signs of soft demand in China and India. Spot gold was up 0.1 percent at $1,314.00 an ounce at 0931 GMT, while US gold ...

Palm oil in biggest weekly drop in 1-1/2 years to near five-year low KUALA LUMPUR: Malaysian palm oil futures tumbled to their lowest in nearly five years on Friday to record their biggest weekly fall since March 2013, under pressure from a surge in the ringgit as well as concerns over food and fuel demand.The benchmark October contract on the Bursa Malaysia Derivatives Exchange slid to 2,085 ringgit in late trade, an Oct. 9, 2009 low, before ending 1.8 percent down at 2,094 ringgit ($664) per tonne on ...

Sugar hits 6-month low, cocoa near 3-year high LONDON: ICE raw sugar futures dipped to a fresh six-month low on Friday as ample supplies offset a slowdown in the pace of harvesting in top producer Brazil, while cocoa traded near a three-year high, underpinned by strong demand. Arabica coffee eased with traders focused on the extent of drought damage to crops in top producer Brazil. Benchmark October raw sugar on ICE Futures US traded down 0.03 cent, or 0.2 percent, at 15.88 cents ...

Copper falls to lowest since June on China demand concern LONDON: Copper held near its lowest level in more than seven weeks on Friday, as a downbeat outlook for the economy in top consumer China raised concerns about demand for industrial metals. Three-month copper on the London Metal Exchange (LME) fell to a session low of $6,823 a tonne, its weakest level since June 23.It recovered slightly to trade 0.3 percent higher at $6,848,75 a tonne at 1028 GMT. The metal, used in the power ...


 



 
Index Closing Chg%
Arrow DJIA 16,919.59 0.48
Arrow Nasdaq 4,527.52 0.43
Arrow S&P 1,981.60 0.50
Arrow FTSE 6,779.31 0.56
Arrow DAX 9,334.28 0.96
Arrow CAC-40 4,254.45 0.56
Arrow Nikkei 15,449.79 0.83
Arrow H.Seng 25,122.95 0.67
Arrow Sensex 26,420.67 0.11





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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 15, 2014
Reserves $14.264 bln