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North Korea fires short range missiles SEOUL: North Korea fired three short-range missiles from its east coast on Saturday, South Korea's Defence Ministry said, but the purpose of the launches was unknown.Launches by the North of short-term missiles are not uncommon, but the ministry would not speculate whether these latest launches were part of a test or training exercise."North Korea fired short-range guided missiles twice in the morning and once in the afternoon off its east coast," an official at the South Korean Defence Ministry spokesman's office said by telephone.The official said he would not speculate on whether the missiles were fired as part of a drill or training exercise. "In case of any provocation, the ministry will keep monitoring the situation and remain on alert," he said.A Japanese government source, quoted by Kyodo news agency, noted the three launches, but said none of the missiles landed in Japan's territorial waters.Tension on the Korean peninsula has ...


France makes gay marriage law PARIS: French President Francois Hollande has signed into law a bill allowing same-sex marriage, making France the 14th country to legalise gay weddings.France's official journal announced on Saturday the bill had become law after the Constitutional Council gave it the go-ahead on Friday.The bill, a campaign pledge by the Socialist president, has been for months hotly contested by many conservatives in France, where allowing gay marriage is one of the biggest social reforms since abolition ...

Bill Gates crowned World's Richest Man again! KARACHI: Founder of Microsoft, Bill Gates has now been titled the World’s Richest Man for the second time, a title he hasn’t held since 2007. The software entrepreneur reportedly grabbed the title off Carlos Slim the Mexican mobile phone mogul held the title for three years. According to Bloomberg, Gates eye-watering $72.1 billion fortune crowns him the new King of Money.According to media sources, the Mexican congress passed a bill breaking up Slim’s monopoly on ...

'Qaeda' kills Yemen intelligence officer: police ADEN: Suspected al Qaeda gunmen shot dead a Yemeni intelligence officer in a drive-by attack in the southern city of Mukalla, capital of the southeastern Hadramawt province, a police source said on Saturday.Two men riding a motorbike shot Colonel Abdullah al-Ribaki on Friday evening in a residential area of Mukalla, the source said, adding: "Al Qaeda is behind this killing."Another local official told AFP that Ribaki had been a target for the network, which recently ...

Chinese held in Azad Kashmir over Quraan abuse MUZAFFARABAD: A Chinese man working on an energy project in Azad Kashmir was being held Saturday after hundreds of protesters attacked his company offices over the alleged desecration of a Quraan, officials said.Lee Ping, administration manager of a Chinese consortium building the Neelum Jhelum Hydropower project, was accused by co-Pakistani workers of throwing the Quraan on the ground."We have taken Ping into protective custody after protests erupted in the company when Pakistani labourers saw him ...

British HC Thomson meets Nawaz, discuss bilateral relations LAHORE: British High Commissioner, Adam Thomson met with Pakistan Muslim League-Nawaz (PML-N) Chief Nawaz Sharif here on Saturday.During the meeting, Pak-Britain relations and matters of mutual interests including Pakistan’s relations with neighbours also came under discussions.Adam Thomas also congratulated Nawaz Sharif on his success in the general elections and expressed good wishes on behalf of United Kingdom.Thomson said that the British government is an advocate of democracy and he added that their government wants better ...


 



 
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyFBS July-June
Trade Balance $-21.271 bln
Exports $23.641 bln
Imports $44.912 bln
WeeklyMay 13, 2013
Reserves $11.863 bln