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Copper dips on concern over Greek deal, as oil falls LONDON: Copper slipped on Monday on worries about a Greek bailout deal, concern about upcoming testimony by the US central bank chief and as oil prices dropped. Three-month copper on the London Metal Exchange dropped 0.7 percent to $5,655.50 a tonne by 1108 GMT after a 1 percent loss in the previous session. Euro zone finance ministers agreed late on Friday to extend debt-laden Greece's bailout deal for four months, provided it drew up a list of reforms by Monday. "We've bought a bit of time, but has anything fundamentally changed? I'm not sure," said Nic Brown, head of commodities research at Natixis in London. "You could very quickly get the market flipping from being positive now that we have a deal on Greece to being a little concerned about what the Fed might do later in the year." On Tuesday, markets will focus on testimony by Federal Reserve Chair ...

Gold has bullish hopes, sobering current reality: Russell LAUNCESTON: The price of gold appears caught in a holding pattern, stuck between what is actually happening to demand and what potentially may happen. The World Gold Council's latest quarterly report provides a snapshot of the different dynamics at work in the gold market, and goes some way to explain why the precious metal has been marooned in a fairly narrow range for almost two years. The broad picture from the council's Gold Demand Trends ...
Russia bans cheese imports from Poland MOSCOW: The Russian consumer watchdog Rospotrebnadzor said on Monday it had suspended all imports of cheese from Poland due to irregularities in "normative requirements". It said it had found that cheese produced by OSTROWIA Sp. z.o.o. did not meet the requirements of a Moscow-led customs union.Rospotrebnadzor said it had suspended the imports with effect from Feb. 20. Russia slapped a one-year ban on many Western food imports in August in retaliation for sanctions over Moscow's ...
London copper marks time with China on holiday MELBOURNE: London copper edged up on Monday with much of the region returning to work after the Lunar New Year holiday, but top buyer China remained on a week-long break, draining volume and direction from the market."Copper is in a range, and I don't think it's just restricted to copper - oil is also in a range and trying to find a low," said Jonathan Barratt, chief investment officer at Ayers Alliance in Sydney."We've thrown ...
British 'chocolate greenhouse' saving the world's cocoa LONDON: Chocolate lovers take heart: a steamy greenhouse near London is helping to ensure that cocoa crops globally remain disease-free and bountiful to cope with the growing appetite for sweet treats.On a winter morning, the temperature is a chilly eight degrees Celsius but inside the International Cocoa Quarantine Centre (ICQC), which simulates tropical conditions, the air is a balmy 23 degrees."Cocoa plants are generally quite difficult plants to grow," said Heather Lake, a technician at ...
EU wheat eases after export gains PARIS/HAMBURG: Paris wheat futures eased on Friday as a pullback in US prices encouraged consolidation on the European market after export-fuelled gains a day earlier. May milling wheat on Euronext was down 0.75 euro, or 0.4 percent, to 188.50 euros a tonne by 1554 GMT.Over the week, it was almost unchanged after choppy trading linked both to technical factors and export news. Chicago wheat futures fell sharply as sluggish export demand for US wheat offset ...
Russia's gold reserves flat at 38.8mn oz as of Feb. 1 MOSCOW: Russia's gold reserves were flat at 38.8 million troy ounces as of Feb. 1 compared with a month earlier, the central bank said on Friday. The value of its holdings increased slightly to $49.06 billion as of Feb. 1 from $46.09 billion a month earlier, it said in a statement on its website. Copyright Reuters, 2015 ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln