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Wrong of Greece to say three-quarters of way to deal: EU's Moscovici DRESDEN: It is incorrect of Greece to say that it and its creditors are three-quarters of the way to reaching a deal, EU Commissioner for Economic and Monetary Affairs Pierre Moscovici said Thursday."It is wrong to say, like the Greeks have, that we've gone three-quarters of the way to reaching a deal," Moscovici told French public radio, France Culture, on the sidelines of a meeting of Group of Seven finance ministers and central bank governors in Germany. "There's still a lot of work to do," he added."We are beginning to see reform projects that are consistent," Moscovici said, a day after Athens had announced that it was close to a loan deal with its creditors that would unlock badly-needed bailout funds for its struggling economy.The Greek government subsequently back-pedalled after the G7 host, German Finance Minister Wolfgang Schaeuble, had retorted that no significant new breakthroughs had been achieved.A Greek government ...

IMF: Greece will lose funding access if payment missed WASHINGTON: Greece will be cut off from additional International Monetary Fund financing if it misses a loan payment to the crisis lender, an IMF spokesman said Thursday."Any country that doesn't meet its commitment with the Fund... is declared in arrears and they have no access to IMF funding," IMF spokesman William Murray said.But Murray said the IMF believed that Athens would not miss any of the looming payments."As we stand here right now, we expect ...

European stocks close mixed PARIS: London's benchmark FTSE 100 index of top companies finished 0.11 percent higher compared with Wednesday's close to 7,040.92 points.Meanwhile Greece concerns hit eurozone stocks, with Frankfurt's DAX 30 falling 0.79 percent to 11,677.57 and in Paris the CAC 40 dropped 0.86 percent to 5,137.83 points. Copyright AFP (Agence France-Presse), 2015

Greece eclipses G7 finance meeting DRESDEN: Debt-wracked Greece's battle to hammer out a deal with its creditors dominated a meeting of finance ministers from the Group of Seven leading industrialised nations Thursday, with officials insisting much work still lay ahead.German Finance Minister Wolfgang Schaeuble invited his counterparts from Britain, Canada, France, Italy, Japan and the United States to the eastern city of Dresden for an "in-depth exchange of views" on a number of questions.Issues on the official agenda range from ...

Greece euro exit 'a possibility': IMF chief DRESDEN: Greece's exit from the eurozone is a possibility but would not signify an end to the single currency, International Monetary Fund chief Christine Lagarde said in a newspaper interview Thursday."A Greek exit is a possibility," Lagarde told the daily Frankfurter Allgemeine Zeitung. Such a scenario would not be "a walk in the park" for the single currency area, but would "probably not be an end to the euro," she said in comments translated into ...

UN reviewing tie-ups with corruption-tainted FIFA UNITED NATIONS: The United Nations is reviewing its partnerships with FIFA following allegations of widespread corruption at football's world governing body, a UN spokesman said Thursday, a day after the scandal erupted."We are very much taking a look at the existing partnerships and how the situation evolves," said UN spokesman Stephane Dujarric. The UN and FIFA have tie-ups, for example, to promote health, gender equality and for child protection.The various campaigns and programs between the ...


Index Closing Chg%
Arrow DJIA 18,126.12 0.20
Arrow Nasdaq 5,097.98 0.17
Arrow S&P 2,120.79 0.13
Arrow FTSE 7,040.92 1.11
Arrow DAX 11,677.57 0.79
Arrow CAC-40 5,137.83 0.86
Arrow Nikkei 20,551.46 0.39
Arrow H.Seng 27,454.31 2.23
Arrow Sensex 27,506.71 0.21

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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 $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln