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Iraqi PM urges Russia to boost role in fighting IS MOSCOW: Iraqi Prime Minister Haider al-Abadi on Thursday urged the Russian leadership to boost its involvement in the fight against the Islamic State group, with Moscow pledging to supply weapons.On a visit to Moscow, Abadi warned Russian President Vladimir Putin and Prime Minister Dmitry Medvedev that terrorism is spreading, days after IS fighters seized the strategic Iraqi city of Ramadi, dealing a major blow to the government."Terrorism is not limited to our country," he told Putin. "We hope that today's visit helps continuing support and strengthening cooperation in battling terrorism not just in Iraq but the whole region.Putin said the two countries have a "large agenda," including in defence cooperation, though no details of specific deals were announced in tbe course of the meetings.Speaking to journalists on the sidelines, Foreign Minister Sergei Lavrov pledged full support by Moscow and said it is ready to deliver weapons to Iraq. "We will ...

IMF sees less pessimistic outlook for Russian economy MOSCOW: The International Monetary Fund on Thursday announced a less pessimistic forecast for Russia's economy, predicting no more than 3.4 percent contraction in 2015 and emergence from recession in 2016.The IMF had last month predicted that the economy would contract by 3.8 percent this year and by 1.1 percent in 2016."A recession is expected in 2015 followed by a mild recovery in 2016," the IMF said in a statement released at a presentation in Moscow."GDP ...

European stocks close higher LONDON: European stocks rose slightly higher at the close Thursday as Wall Street also edged up, while dealers speculated over the exact timing of a hike in US interest rates.On the currency market, the British pound hit two-month highs against the euro on upbeat retail sales data.London's benchmark FTSE 100 index ended the day up 0.09 percent at 7,013.47 points.In the euro area, Frankfurt's DAX 30 climbed 0.14 percent to 11,864.59 points while the CAC ...

Conservative to win Polish presidential run-off: poll WARSAW: Conservative challenger Andrzej Duda appeared poised to win Poland's Sunday presidential run-off against incumbent Bronislaw Komorowski, according to a survey released Thursday. Duda, who has been campaigning on bread-and-butter issues like lowering the retirement age, has the support of 48 percent of voters, according to a poll by the independent Warsaw-based CBOS institute. While Komorowski, who focused on defence as well as pocketbook matters, got the backing of 44 percent of people surveyed between ...

Islamabad Safe City project to be operational by end September ISLAMABAD: Islamabad Safe city project will be operational by the end of September.This was stated during a detailed briefing to Minister for Interior and Narcotics Control Chaudhry Nisar Ali Khan here on Thursday.The minister chaired a high level meeting, attended by Federal Secretary Interior, IG Islamabad and officials of FIA, NADRA, Islamabad police and capital administration.The meeting also took up issues of Exit Control List, arms licenses and narcotics smuggling.The minister was informed that after ...

Finance minister meets representatives of business associations at FBR ISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar here Thursday called upon the top business executives and business leaders to help the government promote tax culture in the country by encouraging individuals in their own rank and file who were not paying tax, to come forward and contribute to the national exchequer.He stated this while meeting leaders of prominent business associations at Federal Board of Revenue (FBR), exchanging views with them on proposals regarding budget 2015-16.The ...


Index Closing Chg%
Arrow DJIA 18,285.74 0.01
Arrow Nasdaq 5,090.79 0.38
Arrow S&P 2,130.82 0.23
Arrow FTSE 7,013.47 0.09
Arrow DAX 11,864.59 0.14
Arrow CAC-40 5,146.70 0.26
Arrow Nikkei 20,202.87 0.03
Arrow H.Seng 27,523.72 0.22
Arrow Sensex 27,809.35 0.10

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln