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Copper resumes decline as China-led demand concerns persist LONDON: Copper fell by 2.5 percent on Wednesday, wiping out the previous session's gains, on concern that Beijing's interest rate cuts might not be enough to avert a China-led slowdown in the global economy. Global equities also gave up gains made on Tuesday after China's central bank lowered rates and the amount of reserves that banks must hold for the second time in as many months. Cash copper, however, traded near its highest premium against the three-month price since February, indicating that physical copper is not that easy to come by.Speculators on the London Metal Exchange (LME) held a net long, or buy, position on copper at the end of last week."When investor sentiment is as poor as it is, prices can always go lower; but the reaction is overdone. (Copper) premiums in China have surged. Couple that with imports, with copper products output, none of it is looking like ...

Gold falls as stocks, dollar recover; palladium hits 5-year low LONDON: Gold fell on Tuesday as global markets found some respite after the previous day's rout, with European stocks rising more than 3 percent and the dollar rebounding from a seven-month low versus the euro and the yen. Autocatalyst metal palladium continued to slide, however, falling as much as 7 percent to its lowest in five years.Spot gold was down 0.4 percent at $1,150.40 an ounce at 0954 GMT. US gold futures for December delivery ...
Copper rises after China cuts rates, not out of the woods yet LONDON: Copper prices rose on Tuesday after China cut its benchmark interest rates, raising hopes the move will help bolster economic growth and increase demand in the world's largest consumer of industrial metals. Benchmark copper on the London Metal Exchange, which was steady before the rate cut announcement, was up 1.7 percent at $5,040 a tonne after the news at 1040 GMT. The metal used in power and construction hit a six-year low of $4,855 ...
Soybeans extend gains after China cuts rates PARIS/SYDNEY: US soybeans rebounded off a more than six-year low on Tuesday, helped by China's decision to cut interest rates, although fears of a cooling economy in the world's largest buyer of the oilseed kept gains in check.Chicago Board of Trade November soybeans was 1.3 percent higher at $8.85-3/4 a bushel by 1035 GMT, having closed down 1.7 percent in the previous session when prices hit a contract low.Corn rose more than 1 percent to ...
Raw sugar hits seven-year low as commodity markets retreat LONDON: Raw sugar futures slumped to a seven-year low while arabica coffee slid to its weakest level in more than 1-1/2 years on Monday as slowing economic growth in China prompted broad-based losses in commodity markets. Dealers said the weakness of Brazil's real had also been a factor in the recent slide, making prices more attractive in local currency terms for producers in the world's top grower of both commodities. "Today has been a bad ...
Gold below multi-week highs; PGMs tumble on equities rout LONDON: Gold edged lower on Monday but remained near a seven-week high as the dollar and shares tumbled on concerns about the Chinese economy and uncertainty over the timing of a US rate rise.The dip was partly due to heavy losses in the rest of the commodities sector, with crude oil down almost 4 percent and copper falling to a six-year low. Platinum dropped 3 percent and palladium hit its lowest in three years at ...
Soybeans fall to new 6-year lows as China sell-off deepens PARIS/SYDNEY: US soybeans fell to fresh six-year lows on Monday, caught up in a latest slide in commodity markets fanned by fears about the faltering economy in China, which is by far the largest importer of the oilseed. Soybeans were also under pressure from favourable crop weather in the United States, which was easing concern about damage from torrential rain at the start of the growing season. Corn and wheat also fell as spillover from ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln