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Copper, other metals dip after data shows Japan in recession LONDON: Copper and other base metals dipped on news that Japan had slipped into recession, but nickel and aluminium shrugged off the news, supported by forecasts of developing shortages.Many metals on the London Metal Exchange slipped after news that GDP fell for two successive quarters in Japan, one of Asia's biggest commodity importers.But losses were limited and two of the six major LME metals rebounded into positive territory. Five of them are expected to have a supply/demand deficit next year, with copper the only one seen in surplus, according to forecasts by analysts polled by Reuters."On a fundamental basis, we continue to think that metals with deficits will still be able to outperform," said Nicholas Snowdon, metals analyst at Standard Chartered in London."But we remain in a period of heightened macro uncertainty, which is constraining the potential upside to base metals prices."Three-month LME copper slipped 0.5 percent to $6,675 a ...

Russian wheat prices rise slightly on weak rouble, limited sales MOSCOW: Russian wheat prices rose slightly last week supported by the falling rouble and limited crops sales by farmers, an analyst said on Monday.Russia, one of the world's key wheat suppliers to North Africa and the Middle East, has seen its currency lose about third of its value against the dollar so far in 2014 due to a fall in oil prices and the Ukraine crisis."Farmers continue to hold onto their grains sales and prefer ...
Metals steady except copper as data shows Japan in recession LONDON: Most base metals were steady or firmer on Monday, supported by forecasts for developing shortages, but news that Japan had slipped into recession capped the upside.Many of the metals in the London Metal Exchange complex dipped after news that Japan's GDP fell for two successive quarters.All recovered into positive territory except copper, the only one of the six major LME metals not expected to have a supply/demand deficit next year, according to forecasts by ...
Gold around two-week high as shares drop on Japan recession LONDON: Gold held near a two-week high on Monday as global shares fell after data showed Japan had slipped into recession, raising concerns about global growth, but strength in the dollar kept the metal's gains in check.Spot gold was down 0.1 percent at $1,188.00 an ounce by 1049 GMT after peaking at $1,193.95, the highest since Oct. 31. The metal jumped 2.3 percent on Friday, moving above the key technical level of $1,180.The metal had ...
Kuzbassrazrezugol to cut coal output by 2.3mn tonnes in 2015 LONDON: Russian coal miner Kuzbassrazrezugol will cut its production by 2.3 million tonnes in 2015 due to "unfavourable international market conditions", the company said.Kuzbassrazrezugol produced 30.8 million tonnes of coal for export in 2014 from its mines in Siberia.Glencore Plc, the world's largest exporter of thermal coal, said last week that it plans to shut its Australian mines for three weeks, cutting output by 5 million tonnes in 2014.Coal prices have been hitting multi-year lows ...
Gold slides below $1,150/oz as dollar strengthens LONDON: Gold fell more than 1 percent on Friday, breaking below chart support at $1,150 an ounce, as the dollar hit a four-year high against a currency basket after upbeat US retail sales data. The Commerce Department said US retail sales rose 0.5 percent in October, a sign American consumers were spending with more gusto and could help keep the economy growing at a brisk pace. Spot gold hit a session low of $1,146.64 after ...
NY arabicas rise; sugar eases, eyes on expiry LONDON: New York coffee futures on ICE rose on technical buying on Friday, while sugar eased with a focus on the expiry of the London December white sugar futures contract. Cocoa dipped, pressured by ample new-crop supplies from top grower Ivory Coast.Traders were assessing the extent to which rains in Brazil can relieve stress on parched coffee trees. "I suspect that technically, arabicas are looking healthier," a London-based coffee futures broker said. March arabicas on ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln