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Cocoa dips, near 7-month high, coffee eases LONDON: New York cocoa futures dipped on Wednesday from the prior session's 7-month peak, pressured by a firmer dollar, while raw sugar eased, weighed down by big stocks, and coffee edged lower.New York cocoa futures on ICE, supported by concerns over supplies in No. 2 grower Ghana, dipped under pressure from the stronger dollar against a basket of currencies, making dollar-based contracts more expensive in other currencies.Ghana estimates its 2014/15 cocoa season output will be not more than 700,000 tonnes, down from an initial target of more than 1 million tonnes that had already been revised down to 850,000 tonnes, senior government sources told Reuters earlier this month."Any correction lower and subsequent resumption of selling pressure in breach of $3,050 could see support towards $3,000 tested while further losses could slip back towards $2,990 and below," said Kash Kamal, senior research analyst with Sucden Financial.New York July cocoa eased $29, ...

US soy slumps to 7-month low as supplies seen plentiful LONDON: Chicago soybean futures fell to a 7-month low on Wednesday with the faster-than-normal pace of plantings in the United States adding to concerns about excess supplies.Corn and wheat prices were also lower."We have good planting progress in the U.S. and ... if we don't see a major weather event we will have plenty of soybeans in the U.S. as well as worldwide," said Stefan Vogel, Head of Agri Commodity Markets research for Rabobank."Going from ...
Gold slides as dollar strengthens ahead of Fed minutes LONDON: Gold fell on Wednesday, extending the previous session's slide, as the dollar strengthened ahead of minutes from the Federal Reserve's latest policy meeting, which will be scrutinised for clues on the U.S. rate outlook.The metal slid sharply on Tuesday, posting its biggest one-day loss since April 30, as the dollar rebounded from its weakest run against the euro in four years.Spot gold was down 0.1 percent at $1,206.05 an ounce at 0925 GMT, while ...
Wheat falls from 6-week high, impact of US rain awaited HAMBURG/SINGAPORE: Chicago wheat futures dropped on Tuesday, retreating from near six-week highs touched on Monday, pausing as dealers waited to see if forecast rain would actually damage crops in the US Plains - the assumption that had boosted prices.Excessive moisture can cause crop disease in maturing plants.Corn and soybeans also dropped after US government reports showed brisk planting progress. A stronger dollar also weakened sentiment.Chicago Board of Trade July wheat fell 1.3 percent to $5.14-1/4 ...
Nickel slides after inventories hit record, copper at 2-week low LONDON: Nickel prices posted their biggest one-day fall in over a month on Tuesday after inventories jumped to a record high, highlighting an overhang of supplies weighing on the market.Copper and other base metals also fell, pressured by the strong dollar, weaker oil prices and investors selling to lock in profits from a recent rally.Three month nickel on the London Metal Exchange fell 2.6 percent to $13,400 a tonne by 0935 GMT, the biggest one-day ...
Gold snaps five-day rally on dollar gains, higher shares LONDON: Gold's five-day rally ran out of steam on Tuesday as the dollar rose sharply against the euro while European shares gained ground after the European Central Bank suggested it may speed its 1 trillion euro ($1.12 trillion) bond-buying programme.Steady U.S. 10-year bond yields and uncertainty ahead of the minutes from the latest Federal Reserve policy meeting also weighed on sentiment towards gold.As gold does not pay interest, the rise in returns from U.S. bonds ...
Cocoa dips, near 7-month high, sugar steadies LONDON: Cocoa futures on ICE eased on Tuesday, trading near the prior session's seven-month high, while raw sugar held steady, capped by ample global stocks and a firmer dollar, and coffee was little changed.Cocoa futures dipped on light technically driven selling, powered by the firmer dollar against a basket of currencies which made dollar-based contracts more expensive in other currencies."I would not go as far as to say we are over-bought. There is no doubt ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln