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Gold eyes biggest weekly drop in five on US data, Fed hike view LONDON: Gold edged up on Friday but was still on track to post its biggest weekly drop in five as strong US economic data supported the case for a near-term increase in interest rates. The upward revision in US economic growth in the second quarter to 3.7 percent from the initial estimate of 2.3 percent spurred market expectations that the Federal Reserve could still raise rates this year despite a global equities market turmoil and concerns over a slowing Chinese economy. A rate hike would dim the appeal of non-interest bearing assets as gold. Spot gold rose 0.2 percent to $1,126.86 an ounce by 0946 GMT, but is down 2.6 percent for the week so far.US gold for December delivery edged up 0.3 percent to $1,126.50 an ounce.The metal touched a one-week low of $1,117.35 on Wednesday and has lost more than 3 percent since hitting a seven-week top on ...

Copper down on resurgent worries about surplus, zinc up LONDON: Copper prices dipped on Friday after a sharp rebound the day before as worries about oversupply resurfaced, but losses were modest after the stock market in top metals consumer China recovered for a second day. Copper shot up 4.2 percent on the London Metal Exchange on Thursday, lifted by a bounce in global stock markets, buoyant US economic data and the announcement of production cuts by miner Freeport-McMoran Inc. Freeport lowered its copper sales ...
German 2015 wheat crop falls 5pc after large 2014 harvest HAMBURG: Germany's 2015 wheat harvest will fall by about 5 percent to 26.4 million tonnes compared with last year when there were record yields in some areas. But the crop had nevertheless achieved a good average size, the German agriculture ministry said on Friday in its first provisional crop forecasts. A fall had been generally expected following an exceptionally large harvest in 2014. But the 2015 estimate beat the 25.70 million tonnes forecast by Germany's ...
Healthy EU wheat harvest nearly done; record French crop HAMBURG: European Union wheat harvesting is almost finished with good average crops in the main producers, and with a record in the largest grower France, observers said on Friday. French growers group AGPB said France's soft wheat harvest would be a new record, surpassing 40 million tonnes, up from 37.5 million tonnes last year after highest-ever yields were achieved. "Despite the deep concern caused by the heatwave temperatures, we have had some nice surprises," said ...
Soybeans fall as concern about Chinese growth persists HAMBURG/SYDNEY: US soybeans fell on Wednesday on concern that Tuesday's interest rate cuts may not be enough to stimulate growth in China, the world's largest soybean importer.Corn and wheat rose, rebounding from losses on Tuesday.Soybean futures dropped to their lowest in over six years on Monday on worries about import demand as China's economy falters, but rose in bargain-buying on Tuesday after China cut interest rates to spur growth."We had seen a recovery on Tuesday ...
Gold falls as nervous investors monitor China, Fed policy LONDON: Gold slipped on Wednesday, tracking losses in other markets as concerns remained about China's economic slowdown even after it eased monetary policy. Global stocks have lost more than $5 trillion since China unexpectedly devalued its currency on Aug. 11, but a short-lived recovery on Tuesday, following the cut in interest rates and bank reserve requirements, had pushed gold down 1.2 percent. Spot gold fell 0.6 percent to $1,133.56 an ounce by 1003 GMT, on ...
Copper resumes decline as China-led demand concerns persist LONDON: Copper fell by 2.5 percent on Wednesday, wiping out the previous session's gains, on concern that Beijing's interest rate cuts might not be enough to avert a China-led slowdown in the global economy. Global equities also gave up gains made on Tuesday after China's central bank lowered rates and the amount of reserves that banks must hold for the second time in as many months. Cash copper, however, traded near its highest premium against ...

 



 
Index Closing Chg%
Arrow DJIA 16,351.38 1.82
Arrow Nasdaq 4,749.98 2.46
Arrow S&P 1,948.86 1.83
Arrow FTSE 6,083.31 0.41
Arrow DAX 10,048.05 0.32
Arrow CAC-40 4,554.92 0.30
Arrow Nikkei 18,095.40 0.39
Arrow H.Seng 20,934.94 1.18
Arrow Sensex 25,453.56 0.95





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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
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln