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Barclays is planning to withdraw from parts of the metals, agricultural and energy markets, echoing moves by other major players like J. P Morgan Chase and Morgan Stanley away from the commodities business, the Financial Times reported on Sunday. The UK bank is expected to announce the changes on Tuesday, which include heavy cuts to its global commodities trading staff, the newspaper reported.

United Nations economists who previously called for government intervention to tame volatile swings in commodity prices say banks and hedge funds have since reduced their influence to the lowest level since 2008.
The head of a British government agency that hands out billions of pounds of loans to local authorities has resigned after failing to reveal he was bankrupt, Prime Minister David Cameron's office said on Sunday. Cameron appointed Tony Caplin, a former senior official in his ruling Conservative party, to head the Public Works Loans Board (PWLB) last year. His resignation ahead of European elections next month and a national election in 2015 is embarrassing for the prime minister.
Bahrain's Gulf International Bank plans to issue a 2 billion-riyal ($545 million) floating rate notes with a lifespan of five years through a private placement in Saudi Arabia, a prospectus showed on Sunday. The bank mandated its own investment banking arm, GIB Capital, as well as those of National Commercial Bank, Samba Financial Group and Banque Saudi Fransi to act as joint lead managers and joint bookrunners. Investor meetings will take place in Saudi Arabia on April 21 and 22.
At a meeting with 300 senior Citigroup officials in the first week of February, Chief Executive Michael Corbat said the bank needed to focus on two things above all else this year: expenses and efficiency. The bank's first quarter results on April 14 showed just how much work Citigroup executives have ahead of them in those areas.
US fund managers warned this month of risks shareholders could face from current or future Western sanctions against Russia, underscoring the stakes for emerging-markets investors arising out of the turmoil in Ukraine. Securities filings since April 4 outlined potential problems for funds including the $124.6 million ING Russia Fund , the $841.1 million SSgA Emerging Markets Fund and a number of iShares exchange-traded funds offered by BlackRock Inc.
Carlyle this week became one of the first major private equity players to launch a dedicated sub-Saharan Africa fund, underscoring the growing investor interest in the continent's growing middle class. The US-listed alternative investment manager has raised $698 million (505 million euros) - almost $200 million above its initial target - from both African and international investors wanting to profit from the region's expanding pool of consumers with extra cash to spend.
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln