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Copper gains as ECB rate cut boosts recovery hopes LONDON: Copper prices edged higher on Friday, boosted by speculation the European Central Bank's move to cut interest rates would help spur an economic revival in Europe, but gains were kept in check by concerns about growing copper supplies. Benchmark copper on the London Metal Exchange (LME) rose 0.3 percent to $6,948.50 a tonne at 1020 GMT.The metal used in power and construction was set for a weekly decline of 0.5 percent, its fifth weekly fall in six weeks.In a move that frees up capital for industry and investors, the European Central Bank cut interest rates to a record low on Thursday and launched a new scheme to push money into the flagging euro zone economy, surprising markets. "Copper demand has been lacklustre and this was mainly due to the weak economic data out of Europe, China and Japan.However, given the recent announcements by (ECB president Mario) Draghi, I am ...

Corn pauses after slide on bumper crop expectations PARIS/SYDNEY: US corn futures edged higher for the first time in four sessions on Thursday, rebounding from losses of more than 3 percent the day before, but gains were capped by expectations the U.S. crop would top official estimates.Soybeans ticked lower as the oilseed market also remained under pressure from good crop conditions underlined by higher-than-expected government crop ratings this week.Wheat slipped again to set new contract lows as the absence of U.S. wheat from ...
Nickel hits 7-week high as Philippine news spurs speculators LONDON: Nickel prices climbed to the highest levels in seven weeks on Thursday as speculators returned to the market on the back of worries that the Philippines could follow Indonesia in banning unprocessed ore exports.Three-month nickel on the London Metal Exchange soared to a session high of $19,480 a tonne, its strongest since July 14, driven by buying from commodity trading advisors (CTAs) and macro funds, traders said.Nickel, which is up nearly 40 percent so ...
Coffee consolidates after Brazil-fuelled volatility LONDON: Arabica coffee futures on ICE consolidated on Thursday following a series of choppy trading sessions fuelled by the uncertain outlook for top grower Brazil's 2015/16 crop.Raw sugar fell towards a seven-month low, while cocoa was also lower.December arabica coffee was unchanged at $2.0230 per lb by 1117 GMT.Arabica futures have gained around 78 percent in value since the start of the year on concerns that dry weather in Brazil will curb output both this ...
Gold recovers from low as Ukraine ceasefire uncertain LONDON: Gold was little changed on Wednesday, recovering from an earlier 2-1/2 month low, as initial expectations of a ceasefire in eastern Ukraine receded and ahead of a meeting of the European Central Bank on Thursday.Prices hit their lowest since mid-June at $1,261.19 an ounce in earlier trade after Ukraine said it had reached agreement with Russian President Vladimir Putin on a "permanent ceasefire" in its eastern Donbass region.Gold later pared losses after the Kremlin ...
ICE coffee eases off one-month highs, sugar dips on supply LONDON: New York arabica coffee futures on Wednesday eased off the prior session's one-month high in technically driven dealings, while raw sugar dipped against a backdrop of plentiful supplies.Cocoa on ICE touched a one-month low, pressured by a favourable production outlook in West Africa.Benchmark December arabica coffee on ICE Futures U.S. fell 6.35 cents, or 3 percent, to trade at $2.0310 per lb at 1422 GMT, near Tuesday's one-month high of $2.0995."There has been a ...
Nickel gains on Philippine ban proposal, copper slips LONDON: Nickel prices rose on Wednesday on news that a Philippine senator had urged a ban on unprocessed mineral ore exports, while copper slipped on higher exchange stocks and investors downplayed signs of progress towards peace in eastern Ukraine.Ukraine said earlier it had reached agreement with Russia on a "permanent ceasefire" in its eastern Donbass region, but the Kremlin countered that Russia was not party to the conflict so couldn't agree a ceasefire, though it ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln