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Copper heads for biggest weekly drop since January, record stocks hit nickel LONDON: Copper prices fell on Friday on worries about demand in top consumer China, while nickel hit a four-week low after stocks in LME-registered warehouses climbed to a record high. Three-month copper was untraded at the close but bid at $6,161 a tonne from $6,260 on Thursday. Earlier in the day, it touched a three-week low of $6,143.The metal used in power and construction is down more than 3 percent so far this week, heading for its biggest weekly loss since January. "Demand could prove to be somewhat better if the global economy recovers," said Daniel Briesemann, analyst at Commerzbank in Frankfurt. China's imports of unwrought copper and copper alloy reached 380,000 tonnes in April, taking imports in the first four months of the year to 1.35 million tonnes, down 14.7 percent from a year ago. But the monthly import figure has increased since February."If Chinese consumers become comfortable with ...

First copper from Congo-China deal due by year end KINSHASA: A joint venture between Democratic Republic of Congo's state miner and two Chinese companies, signed under a 2009 "minerals for infrastructure" deal, will begin producing copper before the end of 2015, Congo's government said on Thursday. Under the deal Chinese companies pledged to build $3 billion worth of roads, railways, schools, and hospitals in return for a 68 percent stake in a joint venture operating copper plants with state miner Gecamines in the southern ...
Gold steadies as dollar falls, June rate rise prospects dim LONDON: Gold steadied on Thursday as the dollar fell following minutes from the Federal Reserve's policy meeting showing the U.S. central bank was unlikely to raise interest rates in June.Spot gold was unchanged on the day at $1,209.04 an ounce by 1146 GMT, while U.S. gold futures for June delivery were up 0.1 percent at $1,209.60 an ounce."There is now good psychological support around $1,200, the chart picture looks promising after relatively unsurprising Fed minutes ...
Wheat higher on rain risks, soy steady after 7-month low PARIS/SINGAPORE: US wheat futures rose on Thursday as forecasts for more rain in the southern Plains growing belt kept the focus on possible damage to maturing wheat crops.Soybeans edged higher as the market steadied after a seven-month low a day earlier linked to near-perfect weather across the U.S. Midwest. Corn was also firm after a one-week low.A fall in the dollar after a two-week high against a range of currencies, as well as strengthening crude ...
Weak dollar, China hopes push copper up off 3-week low LONDON: Copper edged up on Thursday from the previous session's three-week low, helped by a weaker dollar and by hopes that a soft Chinese manufacturing reading will spur Beijing to do more to stimulate the world's No. 2 economy.The metal was also supported by inventory data. LME stocks dropped to 332,225 tonnes on Thursday and have generally stayed level since late March - calling into doubt bets that the market will move into strong surplus ...
EU wheat prices rise on weak euro, crop concerns LONDON: European wheat prices rose on Wednesday, boosted by euro weakness and concerns about potential crop damage in the United States and Russia. December milling wheat, the new-crop benchmark and most active contract on the Paris Euronext exchange, closed 1.75 euros or 1.0 percent higher at 181.75 euros a tonne. It earlier reached 182.00 euros, just shy of Monday's three-week peak of 182.25 euros. The US market saw some gains, led by Kansas hard red ...
Gold prices edge higher ahead of Fed minutes LONDON: Gold edged higher on Wednesday, recovering some lost ground after the previous session's slide, but gains were muted as the dollar strengthened ahead of minutes from the Federal Reserve's latest policy meeting.The metal slid sharply on Tuesday, posting its biggest one-day loss since April 30, as the dollar rebounded from its weakest run against the euro in four years.Spot gold was up 0.3 percent at $1,211.18 an ounce at 1400 GMT, while U.S. gold ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln