ECONOMY & MARKETS

Algeria steps up grain imports, eyes Tunisia virus

Algeria confirmed it bought almost a million tonnes of wheat on Wednesday and ordered an urgent speeding up of grain imports, a move seen heading off unrest over food prices as protests swept north Africa.
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China banks ratchet up lending rates to ration credit

Some Chinese banks have drastically raised interest rates on loans to comply with government orders to rein in credit growth after another lending surge at the start of the year, state media reported on Wednesday.
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Why Rising Rates Are Super Bullish for Gold and Silver

The gold naysayers are using rising rates as a way to dismiss gold. Let me explain why this belief is not only false but also utterly dangerous. First and foremost, the parameters have changed in just a few short years. Government debt has increased substantially in the last few years.
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Gold and Silver Technicals: Wait and buy gold at $1,300, bears say showing charts

Precious metals dropped to fresh multi-week lows on Tuesday helped by a view that rising overall investor confidence will cut safe-haven demand for the commodities while chartists turned history pages and 'decided to wait' for an additional discount of $30 for an ounce of gold, which is already $100 down from its peak seen less than two months ago.
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Mozambique to expand capital's port

Mozambique's Ports Development Company (MPDC) said on Tuesday it would increase the handling capacity of its Maputo port to 12 million tonnes this year from 8.7 million in 2010 to take more coal from South Africa.
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US January consumer confidence hits highest since May

U.S. consumer confidence rose more than expected in January to its highest level in eight months, helped by growing optimism about the economy and the jobs market, according to a private sector report released on Tuesday.

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