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London copper firms on output cut; trade dwindles ahead of holiday MELBOURNE: London copper edged up on Wednesday as traders took heart from an output cut in Chile and a revival in Glencore shares, but volumes shrank ahead of a week-long break in top consumer China."Although individually this cut (in Chile) isn't meaningful, we're starting to see a few - maybe it's a reflection of financial stress in general in the big mining companies," said analyst Daniel Morgan of UBS in Sydney."It's a positive development. It doesn't make me bullish copper because if prices lift people can turn operations back on, but it's a support. More needed please."The global copper market is seen in a small 262,500 tonne surplus this year, according to median forecasts of analysts polled by Reuters in July.Three-month copper on the London Metal Exchange had risen 0.5 percent to $4,997 a tonne by 0243 GMT, after closing little changed in the previous session when it fell to ...

London copper above one-month low as trade dwindles ahead of China holiday MELBOURNE: London copper edged higher but remained near its lowest in a month on Monday in thin activity, with trade set to be further subdued ahead of a holiday in top consumer China later this week.The absence of the world's biggest metals user from Thursday, and a rash of third-quarter U.S. earnings reports expected to show companies are struggling, may tip the price risks to the downside."The recoveries we've seen over the past couple of ...
Soybeans edge higher as market awaits USDA report PARIS/SYDNEY: Chicago soybeans edged higher on Friday, keeping them on course for their first weekly gain in five, as the market anticipated the US Department of Agriculture will cut its US harvest outlook in a crop report later in the day. Corn was almost unchanged but set to finish the week up 3 percent as expectations the USDA will also trim its corn crop forecast were reinforced by some disappointing early harvest reports. Wheat edged ...
Australian wheat lowest in Iraq's 50,000 tonnes hard wheat tender HAMBURG: Australian wheat was offered lowest at $231.70 a tonne c&f free out in a tender by Iraq's state grains board seeking at least 50,000 tonnes of hard wheat, European traders said on Monday.The tender closed on Sunday and offers must remain valid up to Thursday, Sept. 3, traders said. No purchase had yet been made, they said. The Australian offer was made for 50,000 tonnes, they said.Russian wheat was offered lowest at $234.00 a ...
London copper sags on stronger dollar, weak China outlook MELBOURNE: London copper slipped back on Wednesday towards six-year lows as the dollar rose on heightened expectations the US Federal Reserve could raise interest rates in September and amid a bearish backdrop for China demand. Atlanta Federal Reserve President Dennis Lockhart said it would take "significant deterioration" in the US economy for him to not support a rate hike in September, lifting the dollar, and eroding purchasing power for buyers with other currencies. Commodities demand ...
Australia's Roy Hill iron ore mine said to be facing short delay SYDNEY: The start-up of the $10 billion Roy Hill iron ore mine under construction in Australia has been postponed until the second week of October because of bad weather and safety problems earlier this year, according to a media report.The mine, 70 percent owned by Australian billionaire Gina Rinehart's private Hancock Prospecting and the last of the mega-projects planned during a boom that is now over, was originally targeting a September start.The Australian Financial Review ...
Corn firms, dry weather forecast caps gains SYDNEY/PARIS: US corn rose more than 1 percent on Thursday to extend gains into a second straight session, though forecasts for more favourable weather provided some headwind.Soybeans rose 0.5 percent, while wheat was unchanged near a three-week low.Chicago Board of Trade September corn rose 1.0 percent to $4.34 a bushel, having closed up 0.2 percent on Wednesday.Analysts said a slightly wetter weather outlook was underpinning some gains."Feed demand seems to be impatient," said Tobin Gorey, ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln