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Ghani says won't allow Afghanistan to be used for proxy wars KATHMANDU: Afghanistan's new President Ashraf Ghani said Wednesday he would not allow anyone to conduct a proxy war in his country after warnings that the rivalry between India and Pakistan could spill across their borders.Nuclear-armed neighbours India and Pakistan -- bitter and sometimes bloody rivals since gaining independence from Britain in 1947 -- have long accused each other of using proxy forces to try to gain influence in Afghanistan.But the departure of NATO combat forces from Afghanistan has raised fears that their rivalry could escalate, further destabilising their troubled neighbour."We will not allow our territory to be used against any of our neighbours. But we will not permit anybody to conduct proxy wars on our soil either," said Ghani at a meeting of South Asian leaders in Nepal that included India Prime Minister Narendra Modi and Pakistan's Nawaz Sharif.Ghani's predecessor Hamid Karzai frequently accused Islamabad of trying to destabilise the ...

India seeks to bolster regional power as South Asia leaders meet KATHMANDU: South Asian leaders met in Kathmandu Wednesday with regional superpower India seeking to boost trade and reinvigorate ties in the face of growing Chinese influence in its backyard, hampered by its bitter rivalry with Pakistan.The leaders of the eight South Asian Association for Regional Cooperation (SAARC) countries are meeting for the first time since the election of a new government in New Delhi that is taking a more assertive stance on both China and ...

Russia cuts oil output as OPEC 'agrees' price too low VIENNA: Russian oil giant Rosneft has trimmed its oil output amid a continued slide in crude prices, as an under-pressure OPEC mulls taking similar action.Rosneft said Tuesday it had cut its daily output by 25,000 barrels because of "market conditions". The token reduction represented less than one percent of the behemoth's total and did nothing to boost energy prices on depressed global commodity markets.The announcement, given in a company statement, came after Rosneft chief executive ...

Republicans' next clash with Obama: Iran nuclear talks WASHINGTON: The extension of international nuclear negotiations with Iran is likely to prompt a far-reaching showdown between the White House and US Republicans who seek to tighten economic screws against Tehran.With hawkish lawmakers eager to pass new sanctions through Congress to prod the Islamic republic into a lasting deal that prevents Iran from developing a nuclear weapon, experts warned that attempts to impose economic penalties could rip apart the delicate negotiation process.Iran and world powers ...

Syria air strikes on IS 'capital' kill 63 people BEIRUT: A string of Syrian regime air strikes on the Islamic State (IS) group's self-proclaimed capital Raqa on Tuesday killed at least 63 people, more than half of them civilians, a monitor said.The air strikes were the deadliest by President Bashar al-Assad's air force against Raqa since the extremist IS seized control of the city last year."Among the 63 killed were at least 36 civilians," said Rami Abdel Rahman of the Syrian Observatory for Human ...

US National Guard deployed as Ferguson protests FERGUSON: More than 2,000 soldiers deployed in the US town of Ferguson on Tuesday, on a second night of protest after a grand jury chose not to charge a white policeman who shot dead an unarmed black teen.After a night of racially-charged unrest following Monday's decision, Missouri Governor Jay Nixon said the National Guard force in the Ferguson area would be tripled to halt the looting and arson.At the Ferguson police station a cordon of ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln