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Australia port's Dec iron ore shipments to China up 5pc SYDNEY: Exports of iron ore to China via the Port Hedland terminal rose 5 percent in December from November, underscoring in part a subdued start to the Australian cyclone season, figures released on Tuesday showed. December shipments to China from Port Hedland, which handles about a fifth of the world's seaborne trade, increased by 1.57 million tonnes month-on-month to 30.6 million, according to Pilbara Ports Authority. The increase, in the face of depressed spot iron ore prices linked to a global supply glut and slowing Chinese demand growth, swept total December exports via the port to 37.8 million tonnes, an increase of 7.8 million tonne, or 26 percent rise versus the same month in 2013. "While the slowdown in China's apparent steel demand has weighed on sentiment, strong supply growth has been the primary driver of the steady decline," Morgan Stanley said in a research note. So far this year, ...

Glencore says restarting Australia coal mines shut to fight glut SYDNEY: Glencore Plc on Monday said it was restarting coal mining operations in Australia, following a three-week suspension aimed at combating a global supply glut made worse by protectionist trade measures introduced in China. The suspension by the world's biggest exporter of thermal coal underscored producer concerns about over-supplied coal markets, though it did little to turn depressed coal prices around."We are in the process of resuming coal production, as planned," Glencore said in a ...
Wheat prices firm as much as 1pc, global supplies cap gains SYDNEY: US wheat futures rose as much as 1 percent on Monday, rebounding from heavy losses over the previous four sessions, though ample global supplies capped gains.Soybean futures climbed for the first time in five sessions, edging higher after losses of nearly 4.5 percent over the period. Corn also edged up as US exports topped market expectations.Chicago Board of Trade March wheat futures climbed 0.82 percent to $5.86 a bushel, having hit a session high ...
London copper slips further, oversupply worries drag SYDNEY: London copper futures slipped further on Tuesday after retreating in the previous session, vulnerable to concerns of global oversupply.A massive sell-off sent the metal to its lowest level in 4-1/2 years earlier this month amid signs of a supply glut, a situation aggravated by slowing industrial growth in China.Most commodities appear oversold, but weak near-term fundamentals are unlikely to boost investor confidence, ANZ Bank said in a research note.Supply-side issues will dominate early next ...
London copper inches up, but oversupply worries drag SYDNEY: London copper futures posted modest gains on Tuesday after retreating in the previous session, but remained vulnerable to concerns of global oversupply. A massive sell-off sent the metal to its lowest level in 4-1/2 years earlier this month amid signs of a supply glut, a situation aggravated by slowing industrial growth in China. Most commodities appear oversold, but weak near-term fundamentals are unlikely to boost investor confidence, ANZ Bank said in research.Supply-side issues will ...
Copper reverses early losses; up on bargain hunting, oil SYDNEY: Copper prices traded slightly higher on Monday, reversing losses earlier in the day, with traders saying contracts looked cheap following recent price drops.Copper is down some 13 percent so far this year on worries the market is heading into a supply surplus after several years of deficit, and on slowing economic growth in China, which consumes nearly half the world's copper. A worldwide surplus of 300,000 tonnes is forecast in 2015 by Australia's Bureau ...
One-time economic engine of Australia in deficit as iron ore sinks SYDNEY: Western Australia state, once the "economic engine" of Australia, on Monday recorded its first budget deficit in 15 years as royalties from iron ore plummet.Western Australia treasurer Mike Nahan said the A$1.28 billion ($1.04 billion) budget deficit stemmed from a fall of more than 40 percent in the iron ore price leading to a A$7.1 billion drop in royalty revenues.A deficit of A$907 million is forecast for next year, with analysts doubtful of any ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune-July
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln