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Weaker dollar fuels copper gains LONDON: Copper climbed on Tuesday thanks to a weaker dollar and higher oil prices while the market awaited clues on the strength of demand from top consumer China. Benchmark copper was untraded in the rings, but bid higher at $6,440 a tonne in official rings from Monday's last bid at $6,360. The metal used in the power sector and construction is up more than 10 percent since mid-March. "The lower dollar lends support," Danske Bank analyst Jens Pederson said. "The market is waiting to get a sense of the direction of the Chinese economy and whether additional stimulus will be needed."Dollar-priced commodities become cheaper for non-US firms when the greenback falls. Costs of producing industrial metals rise when oil and energy prices rise. China cut interest rates for the third time in six months on Sunday in an attempt to lower companies' borrowing costs and stoke a sputtering economy that ...

Raw sugar dips from near two-month high, cocoa steadies LONDON: Raw sugar futures on ICE eased on Tuesday from a near two-month high, yet underpinned by strong export differentials, while cocoa steadied, pressured by a strengthening pound. Arabica coffee futures edged up on light buying, supported by a weaker dollar. In sugar, traders focused on talk of brisk vessel nominations after a massive delivery against expiry of the May raw sugar contract. "There seems to be the sense that the large delivery is causing ...
EU wheat firm in hesitant trade ahead of USDA report PARIS: European wheat prices edged higher on Monday in light trade with operators awaiting the US government's agricultural supply and demand report the following day.Euronext December milling wheat, the new-crop benchmark on Euronext, was 0.50 euros higher by 1550 GMT at 175.25 euros a tonne.The contract has gained 2.5 percent since the seven-month low of 171.00 euros hit on Tuesday last week.However, the rebound may be short-lived with few fundamentally bullish elements, traders said."A major ...
Copper slips, more China easing seen likely LONDON: Copper slipped on Monday as doubts emerged about whether rate cuts in China would be enough to stimulate economic activity in the world's largest consumer of industrial metals.Benchmark copper was untraded at the close, but bid at $6,360 a tonne, down from Friday's last bid of $6,385. The metal used in the power and construction industries is up about 20 percent since late January."It's difficult to impress the base metals market, the easing was ...
Copper firm on China rate cut, more support expected LONDON: Copper held firm on Monday after China cut interest rates, but gains were limited by doubts about whether the easing would be enough to stimulate economic activity in the world's largest consumer of industrial metals. Benchmark copper was $6,401 a tonne at 1014 GMT from Friday's last bid of $6,385. The metal used in power and construction is up about 20 percent since late January. "It's difficult to impress the base metals market, the ...
New York cocoa rises on sterling rally, sugar jumps LONDON: New York cocoa futures rose on Friday as sterling rallied after the UK election, supporting arbitrage between London's pound-based futures and their dollar-based US counterparts. Raw sugar was also up, underpinned by a strengthening Brazilian real and strong nominations after a large delivery against a contract expiry. Arabica and robusta coffee futures rose on technically driven buying in moderate volumes.New York July cocoa futures were up $16, or 0.6 percent, at $2,945 a tonne ...
Gold holds near $1,185/oz ahead of US payrolls data LONDON: Gold edged higher on Friday after two days of losses, but prices held in a narrow range ahead of key US nonfarm payrolls data, which will be closely watched for further clues on the timing of an expected US rate rise. A recent run of mixed economic data has pushed earlier expectations for the Federal Reserve to announce a rate rise at its June policy meeting back to later this year. A strong jobs ...

 



 
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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%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln