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Palm climbs to 5-week high after ringgit weakens to 4-month low KUALA LUMPUR: Malaysian palm oil futures rose to their highest in over five weeks on Thursday, as the Malaysian currency slipped to its lowest since early May and stoked buying interest for the ringgit-priced palm feedstock.The Malaysian ringgit fell to a four-month low ahead of the central bank's monetary policy decision later Thursday, weakening 0.8 percent to 3.2425 against the greenback, and making palm oil cheaper for overseas buyers and refiners.Most Asian currencies have fallen this month on worries that the US Federal Reserve will take a more hawkish stance and raise interest rates faster that earlier anticipated."Near term, the US may raise interest rates, and this will be a bonus for the US dollar," said a trader with a foreign commodities brokerage in Kuala Lumpur."At the same time, the Malaysian central bank might maintain the overnight policy rate. This will weaken the ringgit, which is positive for palm oil," ...

India's gold imports seen up, premiums to double on festive buying MUMBAI: India's monthly gold imports are set to rise by as much 50 percent from current levels while premiums could almost double as the country gears up for a surge in demand ahead of the year-end festivities and wedding season, industry sources said. More purchases by the world's No.2 gold consumer after China could help support global bullion prices, which are mired near an 8-1/2-month low of $1,216.01 per ounce amid fears a faster hike ...
China Aug coal output falls 0.98pc on year SHANGHAI : China's August coal production fell 0.98 pct from a year ago to 302 million tonnes, according to a trade website that cited data from the National Bureau of Statistics. Total output in the first eight months of 2014 stood at 2.55 billion tonnes, down 1.4 percent from a year ago. Copyright Reuters, 2014 ...
Spot gold to hover above support at $1,219 SINGAPORE: Spot gold may hover above a support at $1,219 for one trading day or rebound moderately to $1,226 before falling again, as indicated by its wave pattern and a Fibonacci projection analysis.Gold is riding on a wave C that developed from the Aug. 8 high of $1,322.60. The Fibonacci projection analysis reveals this wave has been interrupted by the support at $1,219, the 161.8 percent level.A drop to $1,215 will confirm both a break ...
LME aluminium may break support at $1,980 and fall to $1,937 SINGAPORE: LME aluminium is expected to test a support at $1,980 per tonne, with a good chance of breaking below the support and falling further to $1,937. The support is provided by the 38.2 percent Fibonacci retracement on the rise from the May 21 low of $1,754.75 to the Sept. 2 high of $2,119. It has triggered a rebound towards the 23.6 percent level at $2,033. With the rebound having almost been reversed, the downtrend ...
Shanghai copper to test support at 48,800 yuan SINGAPORE: Shanghai copper is expected to test a support at 48,800 yuan per tonne, as its rebound from Sept. 15 low of 47,940 yuan seems to have completed.The completion has been indicated by the depth and the duration of the fall after copper closed below a resistance at 49,760 yuan, the 50 percent level, on Sept. 17.An immediate support will be at 48,800 yuan, the 23.6 percent level, a break below which will trigger a ...
Palm oil to gain more to 2,213 ringgit SINGAPORE: Palm oil is expected to climb to 2,213 ringgit per tonne, as it has broken a resistance at 2,142 ringgit. The resistance was provided by the 38.2 percent Fibonacci retracement on the fall from the June 25 high of 2,511 ringgit to Sept. 2 low of 1,914 ringgit. The next resistance will be at 2,213 ringgit, the 50 percent level, a break above which will lead to a further gain to 2,283 ringgit, the ...


Index Closing Chg%
Arrow DJIA 17,055.87 0.68
Arrow Nasdaq 4,508.69 0.42
Arrow S&P 1,982.77 0.58
Arrow FTSE 6,676.08 1.44
Arrow DAX 9,595.03 1.58
Arrow CAC-40 4,359.35 1.87
Arrow Nikkei 16,205.90 0.71
Arrow H.Seng 23,837.07 0.49
Arrow Sensex 26,775.69 1.58

Banking Review 2013

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln