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India's gold imports set to rise as RBI eases curbs ahead of budget MUMBAI/SINGAPORE: Gold imports to top consumer India are set to jump in coming months after the central bank eased gold import curbs, ahead of an expected cut in import duty in next week's federal budget.The Reserve Bank of India said on Wednesday banks would again be allowed to import gold on a "consignment basis", under which they act as intermediaries and don't pay for the stock until a buyer has been found, which is usually quickly.Trading houses will be allowed to bring in gold with no conditions attached. Gold flows into the country have slowed despite the removal in November of the so-called 80-20 rule that required importing agencies to re-export a fifth of total imports, as importers and customs officials waited for more clarity."These clarifications were pending for a long time and should boost sentiment. Gold imports may increase to 75-90 tonnes in coming months as against about 40 ...

Bangladesh tenders to export 75,000 tonnes of sugar to EU DHAKA: Bangladesh Sugar and Food Industries Corp has issued an international tender to export 75,000 tonnes of sugar to the European Union as the state agency has huge stocks of the sweetener.The tender will close on March 10, Harun Mia, chief purchasing officer of the state agency, said on Thursday.The state agency typically imports white sugar to build its reserves, but a bumper output and high stocks allowed it to export.Copyright Reuters, 2015 ...
Mongolian parliament backs bid to end Rio copper mine dispute ULAN BATOR: Mongolia's parliament has backed its new prime minister's plan to resolve a long-running dispute with global miner Rio Tinto this year over plans to expand the massive Oyu Tolgoi copper mine.The proposal approved by parliament on Wednesday just before the Mongolian Lunar New Year says the government will move to "resolve underground investment issues" and "boost development work" by the second half of 2015, mining ministry spokesman Galsan Bodibilguun said.Prime Minister Chimed Saikhanbileg ...
India's gold related shares seen rising after RBI eases norms MUMBAI: An overnight move by the Reserve Bank of India to ease gold import and lending norms for banks is set to trigger gains in shares of jewellery makers, as well as shares of lenders which accept gold as collateral.Traders said on Thursday that shares of Federal Bank, Muthoot Finance Ltd as well as Mannapuram Finance Ltd were being closely watched after the RBI late on Wednesday allowed banks to lend against gold, lifting a ...
Indonesia says may delay 2017 ban on copper concentrate exports JAKARTA: Indonesia could push back a ban on exports of copper and other mineral concentrates due to come into effect in January 2017 if miners have not built new domestic smelters in time, a mining ministry official said on Wednesday. Early last year Southeast Asia's largest economy put in place export restrictions aimed at forcing mining firms to develop smelting and processing facilities so that Indonesia could refine all of its own raw ores and ...
Indonesian Jan palm oil output seen down 5pc JAKARTA: Indonesian crude palm oil output is estimated to have fallen around 5 percent in January from December, hit by wet weather in key growing regions, a survey of leading industry officials showed.Palm output was 2.056 million tonnes in January in the world's top producer, according to the median estimate in a Reuters survey of four Indonesian industry officials and plantation companies, versus 2.165 million tonnes in December."Weather issues in some parts," said Ivy Ng, ...
Asia Cocoa: Butter ratios sink on weak demand, powder inches up JAKARTA: Asia's cocoa butter ratios sank further this week, still at their lowest in 21 months as weak demand for butter and powder continued, with grinders expecting sluggish demand through the first quarter. The global cocoa market has been hit by high bean prices and changing economic conditions that are affecting chocolate demand in top consumers Europe and the United States. Meanwhile, excess stocks of cocoa powder and butter in Asia have helped push prices ...

 



 
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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