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Wheat extends losses, soy up on wet US weather SYDNEY: US wheat fell more on Thursday, retreating from a two-week high, although forecasts for potential further harvest delays due to unfavorable weather provided a floor.Corn also fell, extending losses into a second session, while soybeans rose on the threat of potential US production shortfalls following wet weather.Chicago Board of Trade September wheat futures fell 0.3 percent to $5.16-1/2 a bushel by 1126 GMT. It had closed 0.6 percent lower the previous day after hitting a two-week peak of $5.30 a bushel earlier in the session.Analysts noted a mixed weather outlook and varying effects on crops, suggesting volatility is likely to persist."It is hard for the market to know what impact the weather is having. Traders are not on the ground and it is hard to know remotely whether the rain is good or bad and it depends on the specific of every given paddock," said Phin Ziebell, agribusiness economist, ...

Inquiry threat into Australian iron ore industry SYDNEY: The huge iron ore industry in Australia faces the threat of a parliamentary inquiry amid claims the world's biggest miners, including BHP Billiton and Rio Tinto, are flooding the market to wipe out smaller competitors.The steel-making commodity is the nation's largest export with Australia accounting for 60 percent of the world's sea-borne supply, and the slumping price has hit government revenues hard.Budget figures last week showed that Australia's forecast tax receipts will be cut ...
Shanghai copper up 4 pct, plays catch up after holiday MELBOURNE: Shanghai copper rallied nearly four percent on Monday after China's factory activity shrank in April, boosting bets Beijing would take further easing steps, and as markets reopened after a long weekend. China's factories last month suffered their fastest drop in activity in a year, as new orders shrank, a private business survey showed on Monday, hardening the case for fresh policy stimulus to halt a slowdown in the world's second-largest economy. "I think the ...
Australia's iron ore shipments to China down 4pc in April SYDNEY: Australia's iron ore exports to China from Port Hedland, the world's biggest terminal for shipments of the raw material, fell 4 percent in April from March, port figures showed, as demand from China's steel mills dwindled amid a construction slowdown. Exports of the steelmaking ingredient to Australia's biggest trading partner totalled 30.1 million tonnes, down from 31.2 million tonnes the previous month, according to the Pilbara Ports Authority. The monthly total, however, represents an ...
Australian coal prices jump 10pc as storm halts shipments SINGAPORE: Australian coal cargo prices soared 10 percent this week after a huge storm hit the country's east coast, forcing the Newcastle export terminal to stop all ship movements, while meteorologists have warned that another storm was gathering off the coast.The cyclonic storm, which is lashing Australia's east coast for a third day and has been declared a catastrophe, has destroyed houses, cut power to more than 200,000 homes and caused millions of dollars of ...
Shanghai nickel slides 3pc on China construction worries MELBOURNE: Shanghai nickel slid 3 percent on Wednesday, echoing losses in London, on concerns that China's struggling construction sector would corrode demand for the stainless steel ingredient."Clearly the market is seeing the general weakness in the Chinese steel market as having a future impact on speciality feed markets as well - nickel has been suffering as a consequence," said strategist Daniel Hynes at ANZ in Sydney."If it continues, then zinc is vulnerable as well."The most-traded ...
Wilmar warns of potential Australian sugar production shortfall SYDNEY: Australia's sugar production during the 2014/15 season may miss official estimates as a result of recent dry weather across the northeast coast of the world's third-largest raw sugar exporter, Wilmar International Ltd said on Wednesday.Much of Queensland, which accounts for more than 95 percent of the Australian sugar cane production, received less than half the typical levels of rain between January and March, Wilmar said.Australian sugar production relies on rains during the first few ...


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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