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Copper slips on Greece uncertainty, dim demand outlook LONDON: Copper prices slipped on Thursday in volatile trade, hit by a looming slowdown in summer demand and as concerns over a potential Greek debt default dimmed prospects for the euro zone economy and related metals demand. Greece's international creditors will put their final proposal for a cash-for-reform deal to euro zone finance ministers for approval on Thursday after Athens let a deadline pass. Elsewhere, daily data from the London Metal Exchange (LME) showed copper stocks continuing their downtrend, falling to 309,275 tonnes - their lowest since early March. The drawdowns, however, were not enough to help copper. "In terms of inventory drawdown we've heard from our industry sources that it is a function of stocks reshuffling instead of underlying demand," said Xiao Fu, head of commodity market strategy at Bank of China International. "Over the summer we're cautious on the copper price outlook because we haven't seen a meaningful ...

EU clears 361,000 tonnes wheat export licences this week PARIS: The European Union this week granted export licences for 361,000 tonnes of soft wheat, taking the total since the beginning of the 2014/15 (July-June) season to 31.0 million tonnes, French farm office FranceAgriMer said on Thursday. The total volume so far in 2014/15 compared with 27.7 million tonnes of soft wheat export licences cleared by the same stage last season, data showed. The EU also granted this week licences to export 74,000 tonnes of ...
Gold edges off one-week low as Greece news knocks stocks LONDON: Gold edged higher on Wednesday after Greece said international lenders had rejected its latest proposals to avoid default, knocking stocks, and as a softer dollar helped the metal recover from a one-week low. The precious metal has declined for the last three days as the dollar strengthened, and as optimism over the prospects for a deal on Greece prompted investors to favour assets seen as higher risk, such as stocks. Prices hit their lowest ...
Copper slips on Greek jitters, looming summer demand slowdown LONDON: Copper slipped on Wednesday as investor sentiment reflected a looming slowdown in demand and market jitters over talks aimed at averting a Greek debt default. Markets reacted nervously to a statement from Athens saying that creditors had rejected certain proposals from Greece, but an EU official later said there had been no breakdown in talks. Elsewhere, London Metal Exchange data showed copper stocks fell to 311,475 tonnes, veering towards recent three-month lows around 308,000 ...
Gold retreats as Greek hopes lift stocks, euro slides LONDON: Gold eased on Tuesday, extending the previous day's losses as the euro slid against the dollar and European stocks rallied on hopes that Greece would reach a deal with its creditors to stave off default. Spot gold was down 0.3 percent at $1,181.35 an ounce by 1132 GMT, while US gold futures for August delivery were down $2.70 at $1,181.40. The metal posted its biggest one-day loss in nearly a month on Monday as ...
Copper slides to three-month low on demand worries LONDON: Copper prices slid to three-month lows on Monday as the dollar firmed and the market fretted about demand ahead of key manufacturing data from top consumer China.Benchmark copper hit a session low at $5,642.50 a tonne. The metal used in power and construction ended at $5,654 ended from $5,659 at the close on Friday.Also creating nervousness was Greece, which has presented the euro zone with proposals for a cash-for-reform deal."The market is waiting to ...
Gold set for second weekly jump on Fed rate outlook, Greece LONDON: Gold was little changed on Friday, on track for a second weekly gain, bolstered by the Federal Reserve's caution on US interest rate hikes and worries over Greece, but a recovering dollar capped the upside. Spot gold was up 0.1 percent at $1,202.40 an ounce by 1136 GMT, after a 1.3 percent gain on Thursday, its biggest daily rise since mid-May. Prices have gained 1.8 percent this week so far, the biggest weekly increase ...

 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln