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Bank of Japan's Kuroda says expects inflation to accelerate in 2015 SINTRA: The governor of the Bank of Japan said on Saturday that he expected inflation to accelerate in 2015 at to reach 2 percent in or around the first six months of next year."We expect inflation rate to start to accelerate in the second half of fiscal 2015 and reach around 2 percent in or around the first half of fiscal 2016," Bank of Japan Governor Haruhiko Kuroda told an audience of central bankers and academics.Copyright Reuters, 2015

China and Peru agree to study transcontinental rail link BEIJING: China and Peru have agreed to study the feasibility of a controversial 5,300 km (3,300 miles) transcontinental railroad that will connect Peru's Pacific coast with Brazil's Atlantic coast, China's official Xinhua News Agency reported.The agreement came as Chinese Premier Li Keqiang arrived in Peru, on the third leg of a Latin America visit. This week, Brazil and China agreed on a feasibility study for the rail link.In talks with Peruvian President Ollanta Humala on ...

South Africa's Eskom implements rolling power cuts on Saturday JOHANNESBURG: South Africa's state-owned power utility Eskom will cut as much as 2,000 megawatts from the national grid on Saturday because of a shortage of generating units, the company said.The utility cuts power to prevent demand from surging past available supply as it embarks on maintenance of its old stations.Copyright Reuters, 2015

Bank of England confirms EU exit research after email misfire LONDON: The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project.The Guardian reported that an aide to a senior Bank official said in the email the project should be kept secret from most BoE staff and any journalists asking about it should be told the Bank was ...

Google aims to patent child toy that pays attention SAN FRANCISCO: Google has filed a patent for toys that pay attention to who is in a room and can interact with other media devices.The US Patent and Trademark Office shared diagrams Thursday depicting what resembled rabbit and bear toys with microphones in their ears, cameras in their eyes, speakers in their mouths and motors in their necks.The envisioned devices were described as being able to listen for someone, turn a head to make "eye ...

Probe into GM recall uncovers 'criminal wrongdoing': report NEW YORK: General Motors is negotiating what could be a record fine with US justice authorities after a federal investigation into a defect linked to at least 104 deaths uncovered criminal wrongdoing, the New York Times reported Friday.The Times cited people familiar with the inquiry as saying that a settlement likely to surpass the $1.2 billion paid out by Toyota over sudden unintended acceleration could be reached in the next few months.The report said GM ...

Lufthansa mulls spot medical checks on pilots: CEO FRANKFURT: Lufthansa's chief said Friday the German airline is considering the possibility of regular spot medical checks for pilots, after one deliberately crashed a jet over the French Alps in March, killing all 150 on board."Unannounced checks" could be a "possible means" to ascertain whether pilots were regularly taking anti-depressives, which could provide an indication of potential psychological problems, CEO Carsten Spohr told the daily Frankfurter Allgemeine Zeitung. The surprise nature of the tests would ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln