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Gold skids to 8-1/2 month low on US rate hike fears SINGAPORE: Gold tumbled to its lowest in 8-1/2 months on Thursday as the dollar index jumped to a four-year peak after the Federal Reserve signalled that a faster hike in US interest rates might be on the horizon.The Fed on Wednesday renewed its pledge to keep interest rates near zero for a "considerable time", but also indicated it could raise borrowing costs faster than expected when it starts moving."The shift higher in the anticipated Fed funds rate for the end of 2015 and 2016 could further weigh on gold prices longer term and act as a headwind to future rallies," HSBC analysts said in a note."If the dollar remains firm, gold should stay on the defensive," they said.Spot gold fell to $1,216.01 an ounce early on Thursday, its lowest since Jan. 2, before paring losses to trade flat at $1,223.11 by 0317 GMT. The metal lost nearly 1 percent the ...

Corn eases for 2nd day on supply pressure, dollar strength SINGAPORE: US corn lost more ground on Thursday to hover near a contract low, while wheat gave up some of last session's gains due to rising global supplies and strengthening dollar. Soybeans rose for a second consecutive session as bargain buying by end-users and threat of frost damage underpinned the market, which is recovering from a contract low hit earlier this month. Chicago Board Of Trade wheat for December delivery fell 0.5 percent to $4.96-3/4 ...
India's rice output, exports to climb on revival of monsoon MUMBAI/NEW DELHI: India's summer-sown rice output is likely to cross the previous year's level due to a pick up in monsoon rains, raising prospects for higher overseas sales in 2015 by the world's biggest exporter of the grain, trade officials said. Robust exports from India could keep a lid on global prices that have surged 12 percent in the past three months and help cut bulging Indian government stockpiles built as a result of bumper ...
Shanghai rebar drops for third day on high stocks, housing woes SINGAPORE: Chinese rebar steel futures fell for a third day in a row on Thursday, weighed by excess supply in the world's top producer and consumer and slower growth in demand amid a faltering economy.Daily crude steel output of China's large steelmakers rose 7.1 percent in the first 10 days of September after slumping in late August, according to data from the China Iron and Steel Association.Stocks of steel products at major mills rose 6.3 ...
South Korea proposes 513pc tariff on foreign rice SEOUL: After announcing it would scrap rice import caps from next year, the South Korean government proposed Thursday an initial 513-percent tariff to soften the impact on a crucial domestic market. For the past two decades, Seoul has maintained quotas on foreign rice imports under a deal it secured with the World Trade Organisation (WTO). But with the deal set to expire at the end of this year, the government announced in July that it ...
Asia cocoa weaker Liffe excites chocolatiers; butter ratios steady SINGAPORE: A drop in London cocoa futures spurred buying from chocolate makers this week but overall demand remained weak and grinders were having trouble finding buyers for their ample powder stocks, dealers said on Wednesday.The cocoa market has made a dramatic u-turn after the International Cocoa Organization revised its forecast for the global cocoa balance in the 2013/14 season to a surplus of 40,000 tonnes. It previously expected a 75,000-tonne deficit.When processed by grinders, cocoa ...
Tokyo futures up for 3rd session ahead of Fed meeting outcome TOKYO: Benchmark Tokyo rubber futures rose for a third session in light trade on Wednesday as investors awaited the outcome of the U.S. Federal Reserve's two-day policy meeting amid expectations it would maintain low rates.The Tokyo Commodity Exchange (TOCOM) rubber contract for February delivery climbed 1.5 yen to settle at 192.9 yen ($1.7989) per kg, the highest close since Sept. 8."The benchmark extended gains amid quiet trade as many players focus on the Fed policy ...


Index Closing Chg%
Arrow DJIA 17,172.68 0.62
Arrow Nasdaq 4,527.69 1.14
Arrow S&P 1,994.29 0.80
Arrow FTSE 6,773.63 0.94
Arrow DAX 9,749.54 0.51
Arrow CAC-40 4,442.55 0.42
Arrow Nikkei 16,205.90 0.71
Arrow H.Seng 23,955.49 1.44
Arrow Sensex 27,206.74 0.43

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