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Oil rises on bright data; gold dips on easing Ukraine fears LONDON: Crude oil prices rallied this week on upbeat data in top consumer the United States and concerns over supply disruptions in Libya and Nigeria, dealers said.Gold ran out of steam and fell from recent peaks as Ukraine tensions eased, while coffee and sugar futures rebounded on tight supply strains.Commodity market gains were also tempered as weak Chinese manufacturing data sparked demand concerns in the Asian powerhouse economy.OIL: New York crude began the week on the front foot, rising on Monday as traffic was halted on the Houston Ship Channel, a key petroleum-industry waterway, due to an oil spill.Prices then jumped further as data showed a fall in crude supplies at a key US trading hub and a surprisingly large decline in gasoline stocks.The US Energy Information Administration revealed Wednesday that stockpiles sank by 1.3 million barrels at the Cushing, Oklahoma oil-trading hub for the US benchmark.That was the eighth ...

Tunisia buys 50,000 T wheat, 25,000 T barley PARIS: Tunisia's state grains agency bought 50,000 tonnes of soft milling wheat and 25,000 tonnes of barley on Friday, booking the volume it had sought in its latest international tender, European traders said. For the milling wheat, Tunisia purchased one cargo of 25,000 tonnes at $316.74 a tonne, cost and freight included, and another at $318.74 a tonne C&F. It bought the barley at $268.74 a tonne. Louis Dreyfus was the seller of all the ...
Gold hits 6-week lows, poised for second weekly loss LONDON: Gold fell briefly to fresh six-week lows under $1,300 an ounce on Friday, on track for a second straight weekly decline as an improving US economic outlook lifted the dollar and bolstered appetite for risk. Bullion has dropped about $100 an ounce from a six-month high in the last nine trading sessions on declining geopolitical tensions, strong US economic data and comments by Federal Reserve Chair Janet Yellen that interest rates could rise in ...
Gold slides back to $1,300/oz as US data lifts dollar LONDON: Gold fell nearly 1 percent to a five-week low on Wednesday as the dollar firmed, equity markets strengthened and the US economy showed signs of recovery, while support from physical buying also was lacking.Spot gold was down 0.6 percent at $1,302.60 an ounce by 1508 GMT, having fallen to $1,300.09 in earlier trade, its lowest since mid-February. US gold futures were down $7.80 an ounce at $1,303.60.Prices touched a six-month high of $1,391.76 early ...
Copper falls after sharp gains, China stimulus hopes persist LONDON: Copper retreated on Wednesday, after prices hit a two-week high in the previous session, but the outlook for metals demand remained supported by prospects that China will stimulate its economy.A broad-based retreat on the London Metal Exchange (LME) also saw nickel give up more of its recent gains as a large short position emerged.Keeping prices soft, the dollar rose against a basket of currencies. A strong dollar makes commodities priced in the U.S. unit ...
Britain raises forecast for wheat, maize imports LONDON: Britain raised its forecast on Wednesday for wheat and maize imports in 2013/14 (July/June) to reflect the faster-than-expected pace during the first few months of the season.Wheat imports were expected reach 1.80 million tonnes, up from a previous forecast of 1.63 million, according to official government supply and demand projections prepared by the Home-Grown Cereals Authority.Imports surged in the early months of this season as millers looked overseas for supplies as Britain harvested its ...
Commodity prices rocked by Ukraine fears, Fed outlook LONDON: Commodities faced choppy trade this week, with gold torn between concerns over the Ukraine crisis and the prospect of a US interest rate hike in mid-2015.Gold forged a six-month pinnacle as investors sought a safe haven from the growing Ukraine fears, before pulling lower as the dollar strengthened.Elsewhere, copper dived to a 3.5-year low on Chinese demand worries and coffee was dampened by the arrival of rain in Brazil, while cocoa zoomed to a ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
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WeeklyApril 14, 2014
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