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Gold treads water as safe-haven demand cools, stocks rise SINGAPORE: Gold was little changed on Wednesday as safe-haven buying cooled on easing fears of imminent military action by Russia in Ukraine, and as traders waited for US data for clues on the strength of the economy.Bullion prices were also kept in check by higher equities, which recovered after Russian President Vladimir Putin said he would use force in Ukraine only as a last resort.Gold is seen as an alternative investment to risky assets such as stocks at times of economic and geopolitical uncertainty."Gold is currently very sensitive to geopolitical tensions.That is not necessarily a good sign as the money flow can change very quickly as and when there are developments in Ukraine," said Mark To, head of research at Hong Kong's Wing Fung Financial Group."Some kind of pullback is very possible given the price gains this year but in the short term it depends on the news flow."Spot gold ...

Iron ore hits 8-month low, traders rush to sell SINGAPORE: Iron ore fell to its weakest level since late June, pressured by slow demand from top consumer China as traders unload cargoes into the market to cut losses on fears prices may drop further.The price of iron ore, China's biggest import commodity by volume, has lost 6 percent since mid-February. Beijing's vow on Wednesday to cut excess industrial capacity to fight pollution may see more steel production capacity curbed.Benchmark 62-percent grade iron ore for ...
Bangladesh tea prices dip again on declining quality DHAKA: Tea prices in Bangladesh have fallen for a sixth week, dragged down by end-of-season leaf that tends to be poor quality, brokers said on Wednesday. Bangladeshi tea fetched an average of 146.71 taka ($1.9) per kg at a weekly auction on Tuesday, down from 157.02 taka in the previous week's sale, when prices fell 2 percent, said an official from National Brokers Limited. More than 3.16 million kg of tea was offered at the ...
NY cocoa biased to retest support at $2,908 SINGAPORE: New York May cocoa is biased to retest a support at $2,908 per tonne, a break below which will lead to a further loss to $2,864. The support is provided by the 61.8 percent Fibonacci projection level of a downward wave c, the third wave of a three-wave cycle that developed from the Feb. 21 high of $3,002. This wave may travel to $2,864, its 100 percent projection level. But this target could only ...
CBOT corn to fall to $4.57-1/2 SINGAPORE: CBOT May corn is expected to fall to $4.57-1/2 per bushel, due to the completion of a five-wave cycle around a key resistance at $4.84-1/4.The cycle rose from the Jan. 10 low of $4.14-1/2 and its fifth wave labelled 5 happened to end around $4.84-1/4, the 61.8 percent Fibonacci retracement on the fall from the Aug. 26, 2013 high of $5.27-1/2 to $4.14-1/2.The deep drop from the Monday high of $4.82-3/4 has confirmed the ...
CBOT wheat to drop to $6.16-1/4 SINGAPORE: CBOT May wheat is expected to fall to $6.16-1/4 per bushel, as it has not completed a correction from the March 3 high of $6.44-1/2.The correction will consist of three waves. So far, only two have completed and the third labelled c is progressing towards $6.16-1/4, its 61.8 percent Fibonacci projection level.This wave may extend to $6.12, the 76.4 percent level, should it travel below $6.16-1/4. Rebound from the current level may be limited ...
India's Oct-Feb sugar output down 10.5pc y/y MUMBAI: Indian sugar mills produced 16.86 million tonnes of the sweetener in the first five months of 2013/14 season that started on Oct. 1, down 10.5 percent from last year, a producers' body said on Tuesday. The world's second biggest sugar producer exported 1.2 million tonnes of sugar by the end of February, including 500,000 tonnes of raw sugar, the Indian Sugar Mills Association (ISMA) said in a statement. India granted a subsidy for raw ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln