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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 tonne c&f free out, they said. US wheat was offered lowest at $265.00 and Canadian was lowest at $247.20 a tonne, both c&f free out, they said.The tender sought wheat sourced from the United States, Canada, Australia or Russia only. Volumes in Iraq's wheat tenders are nominal and the country frequently buys more than it tenders for.In its last reported wheat tender on July 2, Iraq rejected all offers and made no purchase.Copyright Reuters, 2015 ...

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, ...
London copper up on Greece relief; China worries cap gains MELBOURNE: London copper climbed on Thursday as risk appetite revived after Greece's parliament passed severe austerity measures but gains were capped on persistent concern that China's volatile sharemarket could upset early signs of economic recovery.Euro zone jitters began to ease after the Greek parliament passed a sweeping package of austerity measures demanded by European partners.China stocks rebounded on Thursday, but traders were still cautious about whether China could contain its volatile sharemarket after last week's ...
Mining giant Rio Tinto cuts iron ore target SYDNEY: Anglo-Australian miner Rio Tinto Thursday cut its full-year guidance for iron ore shipments after poor weather hit its operations in the first half of the year.The mining giant said it now expects to ship around 340 million tonnes during the 2015 calendar year after unseasonal weather, including two cyclones, in Western Australia reduced capacity at its Pilbara operations by seven million tonnes. It had previously forecast annual shipments of around 350 million tonnes."Due to ...
Australian miners rally as iron ore price spikes 10pc SYDNEY: Shares in Australia's big miners rallied Friday as the price of iron ore spiked nearly 10 percent after China announced new measures to staunch a rout on its stock market.The spot price of the commodity bounced back from its biggest one-day fall the previous day when it slumped 10 percent to $44.59 a tonne on the back of the free-falling Chinese market.It regained virtually all of its losses, analysts said, to climb 9.9 percent ...


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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln