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Middle East & Africa


Saudi Arabia buys 780,000 tonnes of hard wheat HAMBURG/ABU DHABI: Saudi Arabia bought 780,000 tonnes of hard wheat in an international tender which closed on Friday, the country's main state wheat buying agency, the Grain Silos and Flour Mills Organisation (GSFMO), said on Monday.The wheat, with 12.5 percent protein content, is for shipment during June to August, GSFMO acting director general Abdulrahman Al Ruwaitie said in a statement.The accepted origins are the European Union, North America, South America and Australia, at the sellers' option, the GSFMO said.The purchase comprises 13 consignments, with a total of 540,000 tonnes in nine vessels to be shipped to the port of Jeddah and 240,000 tonnes in four vessels to Dammam, he said.Copyright Reuters, 2015 ...

Miners end strike in Mauritanian iron ore hub: union NOUAKCHOTT: Miners in Mauritania's northern iron ore hub of Zouerate went back to work on Friday after downing tools for nine weeks in a dispute over wages, their union and management said.The workers had been on strike since January 28 to demand that the National Industrial and Mining Company (SNIM) honour agreed pay rises and bonuses."Everyone went back to work, everyone is happy with this development," SNIM spokesman Samba Barry said.The workers had negotiated pay ...
Kenya buys over 560,000 tonnes oil products for April-May SINGAPORE: Kenya's oil importers bought over 560,000 tonnes of oil products for delivery over April to May, slightly less that what they initially sought, industry sources said on Friday.They bought 122,144 tonnes of jet fuel, 279,148 tonnes of gasoil and 164,500 tonnes of gasoline from Vivo Energy, Gapco, Mogas and Kencor, the sources said.They will pay premiums of about $25 a tonne above Middle East quotes for the jet fuel cargoes, premiums between $20 and ...
Nicaragua coffee exports rise 25pc in February MANAGUA: Coffee exports from Nicaragua totaled 185,183 60-kg bags in February, up 25 percent from the same month during the 2013/2014 season, the national export center Cetrex said on Thursday. Shipments during the first five months of the 2014/2015 season, which began in October, totaled 453,717 60-kg bags, an increase of 34.6 percent over the same period during the previous season. The growth in exports so far this season is due, in part, to the ...
Drop in cocoa bean size worries Ivorian exporters ABIDJAN: Dry weather in top cocoa grower Ivory Coast has caused a sharp drop in bean size and will delay the start of the April-to-September mid-crop by nearly two months, exporters and merchants said on Friday. Bean size is determined by counting the number of beans per 100 grammes of cocoa, known as the bean count. Ivory Coast's marketing board, the Coffee and Cocoa Council (CCC), has fixed a ceiling of 105 beans per 100 ...
Heat and dry weather could threaten Ivory Coast cocoa mid-crop ABIDJAN: Hot, dry weather in Ivory Coast's main cocoa-growing regions last week could delay the April to September mid-crop, though rainfall was sufficient elsewhere, farmers said on Monday. Ivory Coast, the world's top cocoa producer, is approaching the end of the mid-November to March dry season.At least one downpour a week until the end of the month will be required to encourage flowering, which then develops into small pods. In the coastal region of San ...
Vietnam's January-February rice exports dip to 515,000 Tonnes HANOI: Vietnam's rice exports in the first two months of 2015 are estimated to have fallen 34.4 percent from a year ago to 515,000 tonnes, the government said on Thursday.Revenue from rice shipments in January-February is estimated at $237 million, down 35.6 percent from the same period last year, the government's General Statistics Office said in its monthly report.Vietnam, the world's third-largest exporter after Thailand and India, has projected to ship 7 million tonnes of ...


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Banking Review 2014

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