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North Korea fires short-range missiles SEOUL: North Korea on Saturday launched three short-range missiles into the Sea of Japan, apparently as part of a military drill, South Korea's defence ministry said."North Korea launched two guided missiles in the morning and another one in the afternoon," a defence ministry spokesman told AFP."The missiles landed in the East Sea (Sea of Japan)," he said.South Korea was maintaining intense surveillance of the North and keeping a high-level of readiness to deal with any risky developments, he added.North Korea sometimes launches short-range missiles for tests or as part of military drills.The launches followed a joint South Korea-US naval exercise this week, slammed by North Korea as a "wanton" provocation and rehearsal for war.A US strike force led by the nuclear-powered aircraft carrier USS Nimitz participated in the two-day drill that ended on Tuesday.A US defence official said last week that two North Korean missiles that had been primed for ...


Meteoroid impact triggers bright flash on the moon CAPE CANAVERAL: An automated telescope monitoring the moon has captured images of an 88-pound (40 kg) rock slamming into the lunar surface, creating a bright flash of light, NASA scientists said on Friday.The explosion on March 17 was the biggest seen since NASA began watching the moon for meteoroid impacts about eight years ago. So far, more than 300 strikes have been recorded."It exploded in a flash nearly 10 times as bright as anything we've ...

S&P warns India could face junk status NEW DELHI: India faces at least "a one-in-three" chance of losing its prized sovereign grade rating, global ratings agency Standard and Poor's has warned, in another blow to the scandal-tainted Congress government.The announcement late Friday comes after finance ministry officials have been arguing for a ratings upgrade, saying the government has been taking strong steps to curb India's financial deficit and promote investment.India's BBB-minus investment rating is already the lowest among its BRICS peers Brazil, ...

Aide to Japanese PM returns from North Korea TOKYO: An aide to Japanese Prime Minister Shinzo Abe returned home from a trip to North Korea on Saturday but declined to shed any light on the reason for his mysterious visit.Isao Iijima, a senior adviser to Abe, was tight lipped when confronted by reporters in Beijing on his way home. "I won't accept any interview on this issue," he told reporters, according to Japan's public broadcaster NHK.Abe said Saturday that Iijima would report back ...

Obama seeks to cut Afghan war spending by 10pc WASHINGTON: President Barack Obama on Friday trimmed his funding request for the war in Afghanistan and other overseas operations by 10 percent, reflecting his plans to wind down the US presence in that country.The president asked for $79.4 billion to fund so-called overseas contingency operations in fiscal 2014, which begins Oct. 1, down from his original $88.5 billion request, a White House aide said. Obama made the request in a letter to Congress.The US chief ...

Outgoing Pakistan ambassador Sherry Rehman urges trade, end to drone strikes WASHINGTON: Pakistan's outgoing ambassador to the United States Sherry Rehman has said the Pakistan and the United States have improved their ties considerably from a low-point in 2011 but asked Washington to end drone strikes in the tribal areas in order to help put the relationship on sustained upward trajectory.In a farewell speech to a gathering of senior American officials and Pakistani-Americans, Sherry Rehman who resigned from her post this week after May 11 election, ...


 



 
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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