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Sugar prices to drag on profit growth for Primark owner AB Foods LONDON: Falling sugar prices are set to hold back earnings growth at Associated British Foods in the next two years, offsetting continued strong performance at the group's Primark discount fashion chain.On Monday AB Foods maintained its guidance for its financial year to Sept. 13, forecasting adjusted earnings per share ahead of the 98.9 pence made in 2012-13.It said the adverse effect of lower sugar prices and a previously flagged hit of 50 million pounds ($80.9 million) on the translation of overseas results arising from the strengthening of sterling would be offset by strong operating profit from Primark and its grocery business, as well as an improvement at its ingredients operation.Shares in AB Foods, 55 percent owned by the Weston family, have soared 59 percent over the past year, mainly on the back of Primark's success.However, they fell up to 5 percent on Monday after the group cautioned that the world ...

Copper up on speculation of looser China monetary policy LONDON: Copper rose on Monday as weak Chinese import data prompted speculation about looser monetary policy from Beijing, while nickel hit a two-month high on worries over potential supply constraints from the Philippines.The lower chamber of Philippines' Congress has approved at the committee stage a bill seeking to halt exports of unprocessed mineral ores, one of two bills aimed at squeezing more value from the country's mineral resources.The bills, which would require domestic processing of ...
Edge lower, weighing US weather, big crops PARIS/SINGAPORE: New-crop corn and soybean futures edged lower on Monday as the market set frost risks for U.S. crops against expectations the government will raise its harvest outlook to new record highs later this week.Wheat was also mostly lower as concern over a rainy U.S. spring wheat harvest was offset by expectations that the U.S. Department of Agriculture will increase global supplies further in its monthly supply-and-demand report on Sept. 11.All three crops rallied on ...
Gold inches down on stronger dollar, drop in shares limits losses LONDON: Gold edged down on Monday as the dollar recovered losses made after a disappointing U.S. jobs report eased concerns about an early interest rate increase, but lower European shares and uncertainty over Ukraine limited the downside.Spot gold was down 0.2 percent at $1,266.00 an ounce by 1153 GMT. It fell to a near three-month low of $1,256.90 on Friday before gaining support from data showing U.S. employers hired the fewest number of workers in ...
European feeds-Soymeal eases on bumper US crops outlook ROTTERDAM: Soymeal on the European meals and feeds market continued to ease on Friday because of the outlook for bumper US soybean and corn crops and due to a strong dollar that weighs on prices quoted in that currency."Prices continue to come down and bearish news does not seem to stop coming at the moment. It brings prices down further and keeps buyers sidelined, waiting for the market to bottom out," a broker said.South American ...
European vegoils-Palm oil eases on technical selling ROTTERDAM: Palm oil on the European vegetable oils market eased a little on Friday as news that Malaysia will exempt crude palm oil from export taxes in September and October prompted an early rise, only for profit-takers to sell into the rally."Malaysian palm oil futures rallied on Thursday ahead of the tax exemption news when players bought the rumour and today they sold the fact. The European cash market followed that trend," one broker said.Palm ...
Prices fall as oil slides towards $100/barrel LONDON: Thermal coal prices dropped on Friday on sluggish demand and the market also began pricing in the possibility that Brent crude oil prices could fall below $100 a barrel next week for the first time since summer 2013. South African cargoes for delivery in November from the Richards Bay terminal were down $1.4 a tonne to $67, while Australian cargoes for the same month from the Newcastle port were $0.65 lower at $66 a ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln