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India to open coal to commercial mining firms soon, minister says DAVOS: India expects to hold auctions for private firms to mine and sell coal in the near future, the country's coal and power minister Piyush Goyal said but first wants to deal with mines that are directly linked to plants that use the fuel. To boost output and cut imports, Prime Minister Narendra Modi passed an executive decree in December to open up India's nationalised coal industry. Bids have been invited from firms that use coal for their own power, steel or cement plants. "Once my actual user requirements are broadly met, I'm hoping to start opening up to private miners," Goyal told Reuters on the sidelines of the World Economic Forum in Davos."I've not applied my mind entirely to it, but I don't know whether the entire process for all the actual users could be done within this year. But somewhere in the near future I do see that ...

EU wheat futures at two-week high on weak euro LONDON: Euronext wheat futures rose on Friday to a two-week high as a tumbling euro made Paris prices more attractive to investors and underlined upbeat export prospects for European wheat. Gains on Euronext were curbed however by a subdued US market, ample global supplies and psychological resistance around the 200 euro threshold. March milling wheat on Euronext was up 0.75 euros or 0.4 percent at 198.75 euros a tonne by 1640 GMT, having earlier hit ...
Copper drops for sixth week on dollar rally, China worries LONDON: Copper fell on Friday, posting its sixth straight weekly loss as it moved back towards a recent 5-1/2-year low, weighed down by a stronger dollar and concerns about the outlook for demand from top consumer China.Three-month copper on the London Metal Exchange (LME) ended 2.74 percent lower at $5,510 a tonne. Prices hit a 5-1/2-year-low of $5,353.25 last week and are down more than 12 percent so far this year.The metal used in power ...
Russia's gold reserves rise to 38.8mn troy ounces as of Jan. 1 MOSCOW: Russia's gold reserves rose to 38.8 million troy ounces as of Jan. 1 from 38.2 million troy ounces a month earlier, the central bank said on Thursday. The value of its holdings rose to $46.09 billion as of Jan. 1 from $45.22 billion a month earlier, it said in a statement on its website.Copyright Reuters, 2015 ...
EU wheat hesitant as ECB plan fuels forex swings PARIS: European wheat futures were little changed on Thursday as a sharp drop in the euro after the European Central Bank unveiled a bond-buying programme boosted export prospects in Europe but dented sentiment in the US market. European futures were also facing resistance on price charts after climbing to a two-week high on Wednesday.March milling wheat on Euronext was unchanged on the day at 197.75 euros a tonne by 1644 GMT, consolidating below its high ...
Copper down as consumers stand back, inventories rise LONDON: Copper fell on Thursday as climbing inventories highlighted oversupply in the market and consumers waited for weaker prices.Three-month copper on the London Metal Exchange (LME) closed 1.8 percent lower at $5,665 a tonne, reversing gains from the previous session when it broke above $5,800 for the first time since Jan. 13Industrial consumers were largely standing back, waiting for prices to fall further, Robin Bhar, head of metals research at Societe Generale, said."We haven't really ...
European vegoils-Palm oil weakens, hurt by poor demand LONDON: Palm oil prices on the European vegetable oils market were lower on Thursday, weighed by poor demand and weakness in the crude oil market.The drop in crude oil prices has helped to reduce demand from the biofuels sector while dealers also cited slow demand from key buyers such as China and India."The crude oil discount to palm oil is hovering around $300 a tonne, curtailing any discretionary demand for biodiesel and posing a challenge ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln