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Fortescue quarterly iron ore output jumps as price sinks SYDNEY: Iron ore producer Fortescue Metals Group's September quarter shipments rose 60 percent from a year ago to 41.5 million tonnes, helping drive down costs in a hotly contested global market, the company said on Thursday.Australia's No. 3 iron ore miner said its average selling price fell to $71 per tonne over the quarter to Sept 30 from $121 per tonne tonne in the year earlier period, partly offset by a 3 percent drop in average cash production costs to $32.08 a tonne.Fortescue, which competes with global majors Vale, Rio Tinto and BHP Billiton in the seaborne-traded iron ore market said it operated at an annualised run rate of 166 million tonnes during the quarter.Copyright Reuters, 2014 ...

Brent oil to retest support at $82.87 SINGAPORE: Brent oil is expected to retest support at $82.87 per barrel, with a good chance of breaking below it and falling more towards $77.70.The support has formed around the 86.4 percent Fibonacci projection level of a downward wave C that started at the June 19 high of $115.71. As the third component of a three-wave cycle that developed from the April 11, 2011 high of $127.02, the wave C may travel to $77.70, the ...
London copper holds ground, but economic growth worries drag SYDNEY: London copper held its ground on Thursday after logging its biggest daily fall in six months the session before, with mounting concerns over global growth stoking selling across other metals. US retail sales declined in September as consumers pulled back on spending for a range of items, a worrisome economic signal that helped fuel a sell-off on Wall Street. The rout extended to commodities, with nickel, zinc and lead on the London Metal Exchange ...
Corn rebounds from sharp losses, dry weather f'cast caps gains SYDNEY: US corn futures edged higher on Thursday after losses of more than 2.5 percent in the previous session, but gains were capped by forecasts of dry weather that should help harvesting.Wheat rose, drawing support from a weaker US dollar, while soybean prices edged lower.Chicago Board of Trade front-month corn futures climbed 0.36 percent to $3.48-3/4 a bushel, having closed down 2.7 percent the day before.Corn has drawn support from a weaker dollar, which makes ...
LME copper slips from 2-wk peak, growth worries linger SYDNEY: London copper slipped on Tuesday from two-week peaks hit the session before after comments by the Federal Reserve fuelled worries over global growth, disturbing a fragile calm after robust Chinese economic data. China posted a surprisingly strong trade performance in September, soothing worries over a slowdown in the world's top metals user. It also logged a nearly 15 percent jump in copper imports. "The follow through from yesterday's trade data looks a little bit ...
Corn prices fall as bumper production offsets harvest delays SYDNEY: US corn futures edged lower on Tuesday, falling after the grain posted its biggest one-day gain in nine months, as expectations for bumper production offset support from harvest delays.Soybean prices rose, extending gains into a second session on reports of variable yields and harvest delays, while wheat fell for the first time in three sessions.Chicago Board of Trade front-month corn futures had fallen 0.1 percent to $3.45-3/4 a bushel by 0136 GMT, having closed ...
Australia's Queensland Jan-Sept coal exports hit record SYDNEY: Despite depressed coal prices, Australian coal exports from the key Australian state of Queensland climbed 12 percent to a record 158.5 million tonnes in the first nine months of this year, industry figures released on Monday showed. Queensland Resources Council Chief Executive Michael Roche said the figures compiled by his group confirmed the coal industry's determination to ride out the current price downturn. "Volume is replacing price, reflected in record export production," Roche said. ...


Index Closing Chg%
Arrow DJIA 17,817.90 0.04
Arrow Nasdaq 4,754.89 0.29
Arrow S&P 2,069.41 0.29
Arrow FTSE 6,729.79 0.31
Arrow DAX 9,785.54 0.54
Arrow CAC-40 4,368.44 0.49
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,893.14 1.95
Arrow Sensex 28,499.54 0.58

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln