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Russian, Chinese navies hold joint drills in Mediterranean

Nine Russian and Chinese navy vessels gathered in the Mediterranean Sea for joint military drills that will go on until May 21, the Russian defence ministry said on Sunday. The first joint military exercises by the two countries in the region come amid high tensions between Russia and the West over Ukraine and as China is increasingly assertive in pursuing territorial claims at sea.

The ministry said a headquarters for the exercises had been set up aboard the Russian missile cruiser Moskva, which belongs to the Black Sea Fleet with its base in Crimea.

Copyright Reuters, 2015


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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 $-1.998 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklySeptember 21, 2015
Reserves $18.726 bln