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Copper gets boost from Glencore mine shutdown LONDON: Copper gained on Monday after commodity group Glencore announced plans to shut down loss-making mines to help reduce a glut of supply that has weighed on prices. Bearish investors scrambled to close out positions by buying futures, but analysts said it was uncertain whether Glencore's move to close down some African copper operations for 18 months would create a trend. "It's probably not enough to see prices go up (substantially), but it certainly supports the market," said Grant Sporre, head of metals research at Deutsche Bank in London. "It also ensures that copper is probably not going to fall in the same way that iron ore and met (metallurgical) coal have done." Sporre had forecast a global copper supply/demand surplus of 350,000 tonnes for next year, and since Glencore's move is expected to remove 300,000 tonnes in 2016, he said it would bring the market close to balance. Glencore's ...

Gold steadies ahead of US payrolls data LONDON: Gold steadied on Friday after a two-day drop as traders took to the sidelines ahead of a US payrolls report which is being closely watched for clues about the timing of a Federal Reserve interest rate rise. A stronger than forecast number could boost expectations that the Fed is likely to increase rates in the near term, which could weigh on gold. The metal benefits from ultra-low interest rates, which cut the opportunity cost ...
Copper slips on caution over US rates and China LONDON: Copper and other industrial metals slumped on Friday on caution over the prospects of an increase to US interest rates and the reopening of the hard-hit Chinese stock market next week. Global shares slid ahead of what was expected to be a strong set of US jobs data that could provide the impetus for the Federal Reserve to raise rates from their record low. The Chinese stock market, which reopens on Monday after a ...
Taiwan tenders to buy 56,000 T wheat of US-origin HAMBURG: The Taiwan Flour Millers' Association has issued an international tender to purchase around 56,000 tonnes of grade 1 milling wheat to be sourced from the United States, European traders said on Thursday. Tender deadline is Sept. 9, they said.The wheat is sought for shipment between Nov. 1-15, they said. Copyright Reuters, 2015 ...
Gold slips on firm dollar; eyes on ECB, US data LONDON: Gold edged lower on Thursday, under pressure from a stronger dollar and share markets as investors awaited a European Central Bank policy meeting and a US jobs report that could provide clues on the timing of a Federal Reserve rate rise. The ECB is set to cut its inflation forecasts due to falling oil prices and China's economic slowdown, while it is expected to leave rates unchanged. As a traditional hedge against inflation, gold ...
Copper extends gains as shorts cover amid firmer stock markets LONDON: Copper and other base metals gained on Thursday as bearish investors closed out positions amid a stock market recovery, but some were preparing a renewed attack on the downside. Global shares rose, lifted by the strong rally on Wall Street the previous day and ahead of a European Central Bank meeting that some expect will raise the prospect of more quantitative easing."There's definitely less of an extreme sense of volatility in the broader macro ...
South Korean mills buy 51,200 tonnes US wheat HAMBURG: Two South Korean mills purchased a total 51,200 tonnes of wheat to be sourced from the United States in separate deals on Thursday, European traders said. Daehan Flour Mill Co Ltd purchased 26,400 tonnes and Donga-One purchased 24,800 tonnes from separate suppliers, they said. Copyright Reuters, 2015 ...


Index Closing Chg%
Arrow DJIA 16,790.19 0.08
Arrow Nasdaq 4,748.36 0.69
Arrow S&P 1,979.92 0.36
Arrow FTSE 6,326.16 0.43
Arrow DAX 9,902.83 0.90
Arrow CAC-40 4,660.64 0.95
Arrow Nikkei 18,186.10 1.00
Arrow H.Seng 21,831.62 0.10
Arrow Sensex 26,932.88 0.55

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln