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Palm oil slips as traders wary of Chinese volatility JAKARTA: Malaysian palm oil futures eased on Monday, tracking other vegetable oils lower as cautious traders eyed the negative impacts of a possible default by Greece on its debt repayment.The September palm oil contract on the Bursa Malaysia Derivatives exchange ended down 0.5 percent at 2,266 ringgit ($599) a tonne at the close, after trading in a range of 2,260 to 2,277 ringgit.Palm prices have fallen about 2 percent so far in June and touched a three-week low last week."Regional equities are all depressed today," said a palm trader with a foreign commodities brokerage in Malaysia. "People are watching whether the Shanghai stock market's big drop will indirectly impact commodity prices."European shares sank almost 4 percent and government bond yields in Italy, Spain and Portugal jumped on Monday as investors priced in a growing risk that Greece will be the first country to leave the euro.China shares dived another 3 ...

CBOT wheat to retest resistance at $5.71-1/4 SINGAPORE: CBOT July wheat is expected to retest a resistance at $5.71-1/4 per bushel, after a shallow retracement to a support at $5.60-1/4.The resistance and the support are identified respectively as the 114.6 percent and the 100 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle that developed from the May 5 low of $4.60-3/4. This wave may extend into a range of $5.89-12 to $6.07-1/2, formed by ...
India to decide on further hike in steel import duty within a week - minister MUMBAI: India is expected to take a decision on further raising import duty on steel within a week, Minister of Heavy Industries and Public Enterprises Anant Geete said, in a bid to protect local producers from surging imports from countries such as China and Russia.Last week, the government raised import duty to 10 percent from 7.5 percent on flat steel and to 7.5 percent from 5 percent for long steel products, to stem the flood ...
CBOT wheat may rise to $5.75 in three months SINGAPORE: CBOT wheat may rise to $5.75 per bushel over the next three months, as it has failed to break a support at $4.85.The support was provided by the 76.4 percent Fibonacci retracement on the rise from the December 1999 low of $2.22-1/2 to the February 2008 high of $13.34-1/2.Wheat's first failure to break the support was followed by a sharp rebound above the resistance at $6.47-1/4, the 61.8 percent level.It seems a second rebound ...
China May sugar imports triple to 520,000 tonnes BEIJING: China, one of the world's top sugar buyers, imported 520,000 tonnes of sugar in May, triple the amount a year earlier, as refiners sought to benefit from cheap global prices.The jump in volumes, which was widely expected after similar imports in April, has been spurred by tumbling global prices that hit their lowest levels in 6-1/2 years earlier this month.China's domestic sugar prices have also recently eased on demand concerns, but remain supported by ...
China copper smelter faces new risk over restructuring HONG KONG: A majority shareholder in a $1.9 billion Chinese copper smelter being built in the port city of Lianyungang faces the risk of a court-ordered restructuring or bankruptcy, marking a new threat to a project still awaiting environmental approval.The smelter, which is due to have a capacity of 800,000 tonne a year, or more than 10 percent of China's copper smelting capacity in 2015, is being built by Jiangsu Universal Copper.The firm is majority ...
Iron ore heads for worst week since April on shaky Chinese steel SINGAPORE: Spot iron ore prices hovered at their lowest since late May and were set to mark their biggest weekly drop in more than two months amid sluggish Chinese steel demand.To cope with poor demand at home, some Chinese steelmakers are selling their output abroad at a loss, according to traders and a producer, as a group of global industry bodies urged governments to take action over rising shipments from China.A slide in Chinese steel ...

 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln