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Asia Oil Swaps-Fuel oil spreads seen weak on lacklustre demand SINGAPORE: Fuel oil's derivative spreads were seen weaker on Thursday amid lacklustre demand and expectations that the prevailing supply overhang would be exacerbated by high February arbitrage inflows.   Fuel oil inter-month premiums were marginally higher in early trade but traders are expecting the contango price structure to extend into the April/May and May/June contracts as sentiment remains depressed.   The February viscosity spread was steady at a more than one-week low of $5.50 a tonne while the East-West (EW) differential shed another 75 cents to $26.75, its lowest since Sep. 6, 2011 according to Reuters data.   Meanwhile, in naphtha, inter-month spreads were mostly firmer amid robust physical demand and expectations for tight February supplies. The February/March contract rose another 50 cents to a $14.50 a tonne backwardation, its highest since Dec. 27, 2012 according to Reuters data.   Naphtha's EW differential was largely weaker across the 12-month forward curve but is expected to remain supported amid ...

Gold drifts from 1-month high, recovery hopes dull appetite SINGAPORE: Gold inched down on Thursday, pulling further away from a one-month high hit earlier in the week, as increasing confidence in the global economic recovery dulls bullion's appeal as a safe-haven investment.   Gold has failed to breach key resistance at $1,700 an ounce over the last few days, lacking fresh impetus as a generally improving economic outlook steers investors towards riskier assets.    Growth in China's massive manufacturing sector accelerated to a two-year high in January, the ...
Copper underpinned after China factory growth hits two year high SINGAPORE: London copper was steady on Thursday, supported by expansion in China's factories that fuelled confidence the country's recovery was gaining speed, although patchy reports over the US corporate earnings season kept a lid on prices.   Growth in China's giant factory sector accelerated to a two-year high in January, a preliminary private survey showed, as manufacturers received more local and foreign orders in a reassuring sign for the country's economic rebound.   China accounts for around 40 percent ...
Iron ore at 1-week high as some China mills restock SINGAPORE: Spot iron ore prices rose to one-week highs as some Chinese steel mills continued to restock ahead of the Lunar New Year holiday, although buying interest was lean.   Data showing activity in China's factory sector quickened to its fastest in two years should back further gains in iron ore, but steelmakers may only aggressively boost their inventories of the raw material again if steel demand picks up pace.   The HSBC flash purchasing managers' index for China ...
India sugar hits contract low MUMBAI: Indian sugar futures hit a contract low on Wednesday on sluggish demand and as a sharp drop in overseas prices raised hopes of higher imports of raw sugar in the coming months.   The key February sugar contract on India's National Commodity and Derivatives Exchange fell 0.56 percent to close at 3,212 rupees per 100 kg after hitting a contract low of 3,207 rupees earlier in the day.   Sugar was steady at 3,264 rupees per 100 kg ...
World COLOMBO: The price of a cup of tea could rise after the world's biggest producers agreed to join forces to boost profits, a Sri Lankan minister announced Wednesday.   After two days of talks in Colombo between Sri Lanka, India, Kenya, Indonesia, Malawi and Rwanda, which account for more than 50 percent of global production, the nations announced the formation of the International Tea Producers' Forum.   Sri Lanka's Plantations Minister Mahinda Samarasinghe said exporting nations had been trying ...
Indian soybeans hit 3-week high, soyoil down MUMBAI: Indian soybean futures rose in tandem with the overseas markets on Wednesday, extending gains for a fourth session to hit their highest level in three weeks amid low supplies in the domestic market. Soyoil edged lower.   US soybean futures rose 1.6 percent on Tuesday, and touched a one-month high, as traders cited news China bought optional-origin soybeans, talk that it may be looking for more, and concern about Brazil's ability to move its expected record-large ...

 



 
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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