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With cocoa demand on rise, LatAm seeks breakthrough MONTEVIDEO: Latin America, the birthplace of cocoa, trails far behind West Africa in terms of production, but an increase in world demand -- notably in Asia -- could give the region a needed boost.The cocoa beans from Central and South America are known as being of high quality -- fulfilling a certain niche, especially among consumers in Europe."We have good signs of growth in Asia, where the cocoa market will grow from five to nine percent in the next four to five years," said Juergen Steinemann, managing director of Barry Callebaut, one of the world's largest cocoa processors.Latin America will account for 16 percent of world production in 2013-2014, or 666,000 tons out of a total of 4.1 million tons, according to the London-based International Cocoa Organization (ICCO).That marks a slight drop compared to the previous harvest.But the ICCO says the last harvest left a shortage of about 175,000 tons, ...


Former Rwandan rebels take first steps towards a new life KANYABAYONGA: In a huge hangar covered in white tarp, nearly a hundred rebels from a group linked to the 1994 Rwandan genocide were preparing Saturday for a new start.Welcomed to the UN's camp in Kanyabayonga, in the east of the Democratic Republic of Congo, with a bowl of gruel and a promise of help to return home or claim asylum, the men handed over their guns and weaponry.Hutu members of the Democratic Forces for the ...

Catalan leader Pujol defends shift in favour of independence BARCELONA: For decades Jordi Pujol was the foremost champion of Catalan nationalism, who boosted the powers of the region even as he argued it should remain a part of Spain.Now the former head of the regional government of Catalonia campaigns vigorously for outright independence, mirroring a shift in mood in the northeastern region of Spain."I've always been anti-independence, for 60 or more years of my life. And now at the end of it all I ...

Japan to dispatch officials to North Korea for abductee probe TOKYO: Japan will send officials to North Korea while Pyongyang reinvestigates the fate of Japanese nationals it abducted in the Cold War years, a senior politician said Sunday.Dispatch of the mission is part of an accord made last week by the the two countries, Chief Cabinet Secretary Yoshihide Suga said.Japan and North Korea have no diplomatic ties and they contact each other through their embassies in Beijing at present.Since North Korea in 2008 agreed to ...

US soldier released by Taliban in prisoner swap BAGRAM AIRFIELD: A US soldier captured nearly five years ago in Afghanistan was freed on Saturday in exchange for five Taliban inmates held at the Guantanamo prison in a dramatic deal brokered by Qatar.US Army Sergeant Bowe Bergdahl was in "good" condition after Taliban fighters handed him over to "a few dozen" US special operations forces backed up by helicopters at an undisclosed location in eastern Afghanistan, defence officials said.In announcing the breakthrough, President Barack ...

Ukraine tells Russia to recognise new president KIEV: Ukraine accused Russia on Saturday of unleashing a mass propaganda campaign to persuade global powers not to recognise an election that gave the presidency to a pro-Western tycoon.The United States for its part acknowledged a "fundamental disagreement" with Russia and said President Barack Obama would extend his support to Petro Poroshenko when he meets the winner of the May 25 ballot in Warsaw on Wednesday.The months-long fight for the future of the ex-Soviet state ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln