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Turkey pushes for more than 'dropping tons of bombs' on IS ANKARA: Turkish President Recep Tayyip Erdogan pressed the West on Wednesday to find a long-term solution to crises in Syria and Iraq, saying dropping "tons of bombs" on Islamic State militants would only provide temporary respite.Erdogan has pushed for the ousting of President Bashar al-Assad throughout the Syria crisis to settle the conflict and said that international action had to go well beyond air strikes."Dropping tons of bombs from the air is only a temporary solution and only delays the threats and the danger," Erdogan told parliament in a keynote address on the opening day of its new session."The world should know that Turkey is not a country that will allow itself to be used in the search for a palliative solution," he added.Erdogan's comments came a day ahead of a debate in parliament when the government will seek authorisation for military action by Turkish armed forces in the Syria ...

New NATO head seeks 'constructive relationship' with Russia BRUSSELS: New NATO chief Jens Stoltenberg said Wednesday Russia must reverse course in Ukraine but stressed the alliance still remains ready to have a constructive relationship with Moscow. Russia's intervention in Ukraine "is a major challenge to Euro-Atlantic security", former Norway prime minister Stoltenberg told his first press conference as NATO head after replacing Anders Fogh Rasmussen."We need to see a clear change in Russia's actions, a change which demonstrates compliance with international law and ...

IMF warns on growth of shadow banking WASHINGTON: Lightly regulated "shadow banking" has grown to huge proportions in the global financial system and increasingly poses a risk to stability, especially in the United States, the IMF said Wednesday.As much as $60 trillion in assets are handled by shadow banks around the world, according to a statement by the International Monetary Fund.The sector includes legal but lightly policed institutions like mutual funds, money market funds, wealth management funds in China, and finance companies ...

Russian Ambassador calls on Ishaq Dar ISLAMABAD: Ambassador of Russian Federation in Pakistan, Alexey Dedov called on Finance Minister, Senator Muhammad Ishaq Dar here Wednesday and discussed the modalities about Pak-Russia Inter Governmental Commission (IGC) meeting. The Ambassador A said it is important to develop bilateral ties on strong economic footing with due emphasis on investment and trade.Both sides expressed the hope that IGC meeting would help attain this objective and forge overall economic cooperation. Alexey said they look forward to ...

Govt taking steps to achieve progress in energy, investment sectors: Saad ISLAMABAD: Federal Minister for Railways, Khawaja Saad Rafique has said that Pakistan Muslim League Nawaz (PML-N), government was taking steps to achieve progress in every sector including energy and investment.He said that some foreign elements wanted to halt the economic progress and development projects.He said that the PML-N government was focusing on energy projects and bringing investment to the region.Talking to Pakistan Television, he said that protest demonstration and sit-in launched by Pakistan Tehrik-i-Insaf was ...

Pakistan to further enhance trade relations with Turkey ISLAMABAD: Minister for Commerce Khurram Dastagir Khan said on Wednesday said that Pakistan is keen to boost its trade relations with Turkey and would enhance its meet, wheat, mangoes and other agricultural products exports to the country."There exists a lot of potential for investment and trade between the two brotherly countries and these would be exploited for the benefit of the people of the two countries", he told Ambassador of Turkey to Pakistan Sadik Babur ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
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WeeklySeptember 25, 2014
Reserves $13.305 bln