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Gold drops 2.5pc after data stirs deflation fears  NEW YORK: Gold fell 2.5 percent on Thursday, nearly wiping out this year's gains as renewed fears of a global economic slowdown and disappointment over a lack of aggressive US Federal Reserve stimulus dampened bullion's inflation-hedge appeal. The metal posted its biggest one-day drop since Feb. 29. Its selloff started o n W ednesday when the Fed ended a policy meeting without launching a new round of monetary easing but instead opted to lengthen its "Operation Twist" program aimed at lowering long-term interest rates. Silver slid more than 4 percent, following steep losses on Wall Street and Brent oil's 3.5 percent drop to below $90 a barrel. Thursday's selloff in assets across the board lessened the need for buying gold to hedge against inflation. Deflation worries pummelled precious metals after reports showed weak US manufacturing activity, a shrinking Chinese factory sector and slowing business activity across the euro zone. The data added to ...

Corn, soy, wheat fall on global growth worries  CHICAGO: US corn, soy and wheat futures fell on Thursday as profit-taking and concerns about a slowdown in global economic growth overshadowed worries about dry weather threatening US crop prospects. Grains and other commodities weakened after data showed Chinese, European and US manufacturing activity slowing further and risk aversion swept across financial markets. Grains "would be up double-digits if it were not for the outside markets, specifically the crude oil market and this 'risk-off' mindset," said Mike ...
NY cotton closes lower on investor liquidation  NEW YORK: Cotton futures closed sharply lower Wednesday on investor liquidation as the market fell back from the one-month high it hit in the previous session as the short play in the July contract appears to have come to an end, brokers said. The spot July cotton contract on the ICE Futures US exchange dropped 4.81 cents, or 5.4 percent, to end at 83.17 cents per lb, moving from 82.98 to 89.48 cents. On Tuesday, the contract ...
NY juice finishes higher in mostly spread trade  NEW YORK: Orange juice futures settled Wednesday higher on renewed speculative and storm premium buying, analysts said. Key September frozen concentrated orange juice gained 2.00 cents, or 1.7 percent, to finish at $1.1675 per lb after trading from $1.139 to $1.185. It was the loftiest close for the second position juice contract since June 7, Thomson Reuters data showed. Spot July added 3.15 cents to end at $1.229. For the spot contract, it was the loftiest settlement since ...
US budget axe may spare costly crop insurance  WASHINGTON: With the US Congress on the brink of passing the most sweeping farm spending cuts in a generation, critics are riled the budget axe will spare billions of dollars in federal subsidies for private companies that reap double-digit returns for insuring crops. Two years of wrangling over the next farm bill has cut $23 billion over the coming decades from crop subsidies, conservation programs, food stamps and a range of rural economic development programs. There would ...
Soybeans extend rally on tight US stocks; wheat up  CHICAGO: Soybean futures rose for a third straight day on Wednesday, supported by good export prospects for US supplies and by dry weather in the US Midwest that may hurt the developing crop. Wheat rallied from early weakness on short-covering and firm cash markets, especially in the thinly traded Minneapolis spring wheat market, and corn futures rallied toward the close to erase early losses. In soybeans, nearby contracts led gains. "We are competitive on the world stage. That's ...
Coffee, cocoa down; sugar up as Fed comments digested  NEW YORK/LONDON: Soft commodity markets finished mixed on Wednesday, with coffee and cocoa lower and sugar higher before the US Federal Reserve said it would extend its monetary stimulus program to help shore up the faltering economy. "We have to look at how effective (any further stimulus) can be," Sterling Smith, vice president of commodity research at Citibank's Institutional Client Group in Chicago. Arabica coffee fell on profit-taking after rallying more than 4 percent on Tuesday. September ...

 



 
Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln