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Saudi Arabia to cut Oct crude prices to Asia SINGAPORE: Top oil exporter Saudi Arabia is expected to cut October prices for all grades sold to Asia, reflecting weak demand and a stronger Oman price marker, trade sources said on Monday.Flagship Arab Light may also see the biggest cut in its official selling price (OSP) since February, a Reuters survey of four refiners showed.Three of four respondents expect Arab Light's October OSP to be reduced by at least $1 a barrel, the biggest since a $1.30 cut in February.Intermonth Dubai prices have flipped into contango until March 2015, reflecting weak prompt demand. In a contango structure, prompt prices are lower than those in future months.The spread between the first and third month flipped to a 50-cent contango in August versus a backwardation of 71 cents in July, a trader said.The OSP cuts will also be amplified by a stronger Oman price marker against Dubai in the past month, a ...

Kenyan shilling hits lowest since January 2012 NAIROBI: The Kenyan shilling hit its lowest level since January 2012 on Monday, weighed down by concerns that hard currency inflows would be hit by a slump in tourism.At the 1300 GMT close of trade, commercial banks posted the shilling at 88.65/75 per dollar, weaker than Friday's close of 88.25/35.Concerns over dollar inflows have grown in recent months, in large part due to falling business in the key tourist industry, which has been hurt by ...
Iraq rejects offers in tender for 30,000 tonnes of rice BAGHDAD: Iraq's state grains buyer has rejected offers on an international tender to buy at least 30,000 tonnes of rice, a trade ministry official said on Friday. The closing date for the tender was Aug. 11 and offers stayed valid until Aug. 15. "Only three companies submitted offers with high prices, which we decided to reject. A new rice tender will be issued next week," said the official. Iraq made no purchase in a previous ...
Uganda coffee exports drop 20 year/yr in July NAIROBI: Uganda's coffee exports fell 20 percent to 314,304 60-kg bags of coffee in July compared with the same month in 2013 due to drought, regulator Uganda Coffee Development Authority (UCDA) said on Thursday. Coffee exports earned a total $37.8 million compared with $45 million in July 2013, a UCDA source said. Between October 2013 to July 2014, coffee exports stood at 3,028,534 bags compared with 3,039,934 bags that were exported in the year ago ...
South Africa's net reserves dip to $44.315bn in July JOHANNESBURG: South Africa's net gold and foreign exchange reserves were at $44.315 billion in July from $44.828 billion in June, data from the Reserve Bank showed on Thursday. Gross reserves edged higher to $49.89 billion at the end of the month, from $48.647 billion in June, while the forward position, which represents the bank's unsettled or swap transactions, fell to $2.975 billion from $3.117 billion. Economists polled by Reuters expected net reserves to come in ...
Kenya's tea exports inch up in first half of year NAIROBI: Kenya's tea exports rose slightly in the first six months of the year, while average prices at the auction dipped and output was steady, the Tea Board of Kenya said on Wednesday.The east African country exported 250 million kg in January to June, from 246.7 million kg in the same period last year. Output for dipped 0.2 percent to 225.2 million kg, the regulator said in a statement.Kenya is the world's leading exporter of ...
Private Egyptian buyers purchase 60,000 T Black Sea wheat: trade HAMBURG: Private Egyptian buyers in the past week purchased about 60,000 tonnes of wheat from the Black Sea region, all for August shipment, European traders said on Monday.Some 30,000 tonnes with 12.5 percent protein content was purchased at $257 a tonne c&f and a further 30,000 tonnes with 11.5 percent protein content was purchased at $247 a tonne c&f, traders said.Benchmark Chicago wheat touched four-year lows in the last week, pressured by expectations of rising ...

 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln