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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 crash, even as green shoots emerged from its beaten down property market that could bolster demand later in the year. "We believe the stabilisation and continuous recovery in the housing sector will be the key to spur new demand for commodities and ease overcapacity concerns," Helen Lau of Argonaut Securities in Hong Kong said in a note."China's government has room for more monetary easing and fiscal stimulus. We believe the current commodities prices and share ...

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 ...
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 ...
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 ...


Index Closing Chg%
Arrow DJIA 16,776.43 1.85
Arrow Nasdaq 4,781.27 1.56
Arrow S&P 1,987.05 1.83
Arrow FTSE 6,298.92 2.76
Arrow DAX 9,814.79 2.74
Arrow CAC-40 4,616.90 3.54
Arrow Nikkei 18,005.49 1.58
Arrow H.Seng 21,854.50 1.62
Arrow Sensex 26,785.55 2.15

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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