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Iron ore cuts weekly gain as Chinese buying stalls SINGAPORE: Spot iron ore prices are set to pare weekly gains after the commodity came off a 10-week high as Chinese buying interest stalled following a recent restocking binge.Australian miner Atlas Iron said on Friday it will resume full mining operations, given the recent rebound in iron ore prices to above $60 a tonne, potentially adding to a glut that has caused prices of the raw material to shed more than 50 percent from the start of 2014.Iron ore for immediate delivery to China's Tianjin port <.IO62-CNI=SI> fell 1.3 percent to $61.20 a tonne on Thursday, according to the Steel Index.The benchmark is still up 1.2 percent so far for the week, having hit $62.50 on Monday, its loftiest since March 2. But the weekly gain is much smaller than last week's 7.7-percent jump."Mills have already covered their short-term requirements and they're not in a hurry to replenish further this ...


Philippines may boost rice imports as production falls MANILA: The Philippines is set to consider importing more rice after revising down its estimate of first-half domestic production and faced with further dry weather from expected El Nino conditions later in the year.The Philippines is one of the world's biggest rice importers and additional purchases could help support rice export prices in Asia, which have fallen amid weak demand.Domestic production of unmilled rice is expected at 8.27 million tonnes in the first half, the ...

Gold hits three-month high as US data eases rate fears NEW YORK/LONDON: Gold hit a three-month high on Thursday as the dollar came under pressure following a new batch of mixed U.S. data that pushed back expectations of when interest rates in the world's largest economy will rise.Spot gold rose to the highest since Feb. 17 at $1,227.04 an ounce and was trading up 0.5 percent at $1,221.43 an ounce by 2:28 p.m. EDT (1828 GMT).U.S. gold futures for June delivery settled up $7 at ...

New York cocoa rises on strong pound, sugar extends losses NEW YORK/LONDON: New York cocoa on ICE rose for a sixth day running on Thursday, trading at the highest level in nearly seven months, buoyed by chart-based buying and sterling's steady rise to its highest against the dollar this year.Raw sugar futures extended losses after sinking more than 4 percent in heavy volume on Wednesday, pressured by larger Brazilian crop forecasts as the industry gathered in New York. Coffee futures rose as the U.S. dollar ...

US wheat soars 6pc as funds cover short positions CHICAGO: US wheat futures surged about 6 percent on Thursday as a softer dollar inspired funds to cover short positions, analysts said.Corn followed wheat higher while soybeans sagged after a private forecast for record-high US soybean plantings.At the Chicago Board of Trade as of 12:37 p.m. (1737 GMT), July wheat was up 28 cents at $5.09-1/2 per bushel after reaching $5.11-1/4, its highest level in a month.July corn was up 4-1/2 cents at $3.66-3/4 a ...

Nickel falls as inventories rise, Shanghai futures slide LONDON: Nickel fell on Thursday on concern about excess supply after a rise in inventories increased, with further pressure coming from a slide in Shanghai futures.Most other metals also declined, but losses were limited by a weaker dollar and the possibility that China could step up stimulus measures to boost economic growthThree-month nickel on the London Metal Exchange closed down 1.9 percent at $13,780 a tonne.LME nickel inventories rose 2,310 tonnes to 443,352, close to ...

Gold hits three-month high as US data eases rate rise fears LONDON: Gold hit a three-month high on Thursday as the dollar came under pressure following a new batch of mixed US data that pushed back expectations of when interest rates in the world's largest economy will rise. Initial claims for state unemployment benefits slipped last week close to a 15-year low reached last month, but other data showed that a strong dollar and lower oil prices suppressed producer inflation in April. Spot gold rose to ...


 



 
Index Closing Chg%
Arrow DJIA 18,232.02 0.29
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln