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Gold down, worries over central bank stimulus weigh NEW YORK/LONDON: Gold hit a near three-week low on Tuesday, ending lower as a lack of new economic stimulus from the Bank of Japan fueled worries that other central banks may also withdraw their support, denting bullion's inflation-hedge appeal.The precious metal was down as much as 1.4 percent after the Bank of Japan said it held off on new measures, arguing that bond markets had stabilized. Gold closed around 0.6 percent lower."The BoJ has given the market the impression that there will not be any more stimulus," said Carlos Perez-Santalla at brokerage Marex Spectron.Monday's comments by St. Louis Fed President James Bullard on low US inflation also weighed heavily on gold, whose prices largely depend on inflation hopes, said Perez-Santalla.Spot gold was down 0.6 percent at $1,378.51 an ounce by 3:22 p.m. EDT (1922 GMT), having earlier hit $1,366.65, the lowest since May 23.US Comex gold futures for August delivery ...

Corn, soy jump in bull spreading ahead of USDA report CHICAGO: US grains rallied on Tuesday, with corn and soybeans each gaining more than 1 percent and rebounding from steep losses on tight supply concerns ahead of a government crop report due on Wednesday.Wheat futures also rose for the first time in five sessions as Japan announced its first feed wheat tender following the discovery of an unapproved genetically modified strain last month in the US state of Oregon.A downturn in the dollar also supported ...
ICE cotton pierces 90 cents/lb on July contract 'squeeze play' NEW YORK: Cotton prices rallied to above 90 cents per lb, the highest in almost three months, on Tuesday as frenzied merchant buying continued for a second day on concern about a potential squeeze in domestic supply just weeks before the July contract's expiry.Buying also came ahead of the US government's monthly crop report on Wednesday, which will likely reinforce expectations of lower output in the United States as farmers switch to higher-priced grains and ...
China, Argentina to increase soybean, corn trade: official BUENOS AIRES: Argentina and China have agreed to expand their commercial ties by increasing soybeans and corn exports to the Asian country, Buenos Aires said Saturday."China approved three trangenic soybean and corn" varieties, Argentine Agriculture Minister Norberto Yahuar said in a statement."In the next season we will be using these approved seeds and obviously, we will be able to sell more," the minister said, after talks in Beijing with his counterpart Han Chang Fu.The ministry ...
Corn, soy soar as wetter forecasts threaten US planting CHICAGO: US corn and soybean futures soared on Friday on worries that wetter-than-expected weather next week will extend planting delays and reduce output for the autumn harvest.Planting remains slow across the US Midwest due to soggy conditions, with further disruptions expected from another round of rain that agricultural meteorologists forecast to start this weekend.More planting delays could reduce the number of acres farmers sow. Also, key phases of crop development might not happen until the ...
US stocks rise on jobs report NEW YORK: US stocks on Friday rose around one percent in early trade after government data showed the jobs sector continued to strengthen in May albeit modestly, with 175,000 net new jobs.After an hour of trade, the Dow Jones Industrial Average was up 164.77 points (1.10 percent) to 15,205.39.The broad-based S&P 500 put on 15.32 (0.94 percent) to 1,637.88, while the tech-rich Nasdaq Composite Index added 25.80 (0.75 percent) to 3,449.85.The jobs data which showed ...
Corn, soy fall on expectations for US planting progress CHICAGO: Deferred US corn and soybean futures stumbled on Tuesday as forecasts for a pause in rainy weather raised expectations that farmers will follow through on plans for massive plantings.Traders are keeping a close eye on the weather because cool, wet conditions have slowed planting so far this spring, fueling fears that farmers would not plant as many acres as expected.The latest forecasts "suggest that we're going to catch up and we're going to get ...

 



 
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyMay
Trade Balance $-2.171 bln
Exports $2.175 bln
Imports $4.346 bln
WeeklyJune 17, 2013
Reserves $11.446 bln