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Palm tracks other oils higher as ringgit offers support JAKARTA: Malaysian palm oil hit a one-week peak on Friday, tracking rival vegetable oils higher with support from a weak ringgit, but eased in light afternoon trade to levels nearer Thursday's close to end the week down slightly.The September palm oil contract on the Bursa Malaysia Derivatives exchange ended up 0.13 percent at 2,269 ringgit ($600.74) a tonne at close after trading in a 2,264-2,285 ringgit band.Earlier, prices hit their highest since June 25 at 2,285 ringgit. Prices closed down 0.35 percent this week."The market is ticking up but nothing much," said a palm trader with a foreign commodities brokerage in Malaysia. "The ringgit is weakening a bit, and bean oil is higher.""It is still range trading between 2,250 and 2,300," he added. "One day up, one day down as people look for new leads."Export and stocks data set to be released from next week could offer further direction, he ...


ECB to extend backstop to Bulgaria on Greek ructions FRANKFURT: The European Central Bank is set to extend a financial backstop facility to Bulgaria and could also help other countries in the region avert contagion from Greece, Bloomberg News reported on Friday, citing people familiar with the situation. The ECB would provide access to its refinancing operations, offering euros to the banking system against eligible collateral, Bloomberg cited the people as saying.The ECB and Bulgaria's central bank and finance ministry declined to comment on ...

Japan Q3 aluminium premiums mostly set at 6-year low TOKYO: Japan's aluminium premiums for July-September shipments were mostly set at a six-year low of $100 as swelling Chinese exports piled more pressure on an already swamped market, five sources directly involved in the talks said. The nearly $300 quarterly drop in premiums, the sharpest such decline ever, is in line with a global slump triggered by higher aluminium supply after the London Metal Exchange (LME) forced warehousing companies to shorten delivery times. "Japan has ...

Greek PM Tsipras says IMF debt report justifies rejection of deal ATHENS: Greek Prime Minister Alexis Tsipras on Friday said an IMF analysis showing Greece's debt is unsustainable justifies his government's decision to reject an aid package from creditors that offered no debt relief. In a televised address to the nation on the final day of campaigning ahead of Sunday's referendum, Tsipras renewed his appeal to Greeks to vote against the bailout package and say 'no' to blackmail and ultimatums. "Yesterday an event of major political ...

Over 42,000 Afghan refugees repatriated in last six months: UNHCR ISLAMABAD: Over 42,000 registered Afghan refugees have been repatriated under the United Nations High Commissioner Refugees (UNHCR) programme during first six months of the current year."We have paid $ 200 per refugee for their settlement in Afghanistan," an official of the UNHCR told APP here on Friday.He said UNHCR's volunteer centers, operating across the country, would remain open throughout the holy month of Ramazan except Eid holidays.He said international community had always appreciated the efforts ...

Interior Ministry rejects media report on Imran Farooq's murder case ISLAMABAD: Ministry of Interior on Friday rejected a news item appeared in a section of the press on the murder case of Dr. Imran Farooq.Taking note of the story, a spokesman of the Ministry has regretted publishing of such concocted story and termed it 'fabricated' and 'devoid of truth.'In a statement, the spokesman said: "It is quite unfortunate that instead of showing greater sense of responsibility and exercising restraint in the high profile case that ...


 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln