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'Up to Greece to make proposals': France says after referendum PARIS: French Finance Minister Michel Sapin said on Monday it was up to the Greek government to make new proposals after a referendum rejecting creditors bailout proposals."The vote itself solves nothing," Sapin said in the first reaction from Europe's second economy, adding that the margins for dialogue were "very thin".Copyright AFP (Agence France-Presse), 2015

Euro picks up after Greek finance minister quits TOKYO: The euro rose Monday after Greece's Finance Minister Yanis Varoufakis announced his shock resignation, just hours after the cash-strapped nation rejected creditors' austerity demands in a landmark weekend referendum.In Tokyo, the unit fetched $1.1088 from around $1.1027 before the announcement, and after dropping to $1.0963 in New York electronic trade Sunday in response to the vote, which increases the chances Greece will crash out of the eurozone. The single currency also picked up to ...

Iran nuclear talks 'could go either way' in final straight VIENNA: Top ministers were due to meet Monday seeking to conclude an unprecedented nuclear deal with Iran, on the eve of a deadline aiming to draw the curtain on almost two years of high-stakes negotiations.After criss-crossing the world since September 2013 chasing a complex accord to cut off Iran's pathways to developing nuclear arms, exhausted world powers warned Tehran now was the time to strike an accord or walk away.US Secretary of State John Kerry, ...

Greek FM Varoufakis resigns ATHENS: Greece's Finance Minister Yanis Varoufakis on Monday said he was resigning, in a shock announcement despite the government having secured a resounding victory for the 'No' vote in the country's referendum on bailout conditions."Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted 'partners', for my... 'absence' from its meetings," Varoufakis, who had often clashed with creditors in negotiations over the past ...

All eyes on ECB after Greek 'No' vote FRANKFURT: All eyes were on the European Central Bank on Monday following the resounding 'No' in the Greek referendum, with the ECB seen as the only institution capable of calming market panic and preventing the Greek economy from collapsing.In the final tally early Monday, 61.31 percent of Greeks had rejected creditor demands for further austerity in return for more bailout funds.Until the referendum was held, the ECB had agreed to keep the liquidity pipeline open ...

Shanghai stocks down in afternoon, wiping out gains SHANGHAI: Shanghai stocks erased a near eight percent gain in volatile trading on Monday, as an unprecedented raft of measures announced over the weekend failed to boost the slumping market.The benchmark Shanghai Composite Index lost 0.55 percent, or 20.32 points, to 3,666.60 as analysts questioned whether a 7.82 percent rally at Monday's open was sustainable.The Shenzhen Composite Index, which tracks stocks on China's second exchange, plunged 4.73 percent, or 99.31 points, to 1999.17. It had ...


Index Closing Chg%
Arrow DJIA 17,683.58 0.26
Arrow Nasdaq 4,991.94 0.34
Arrow S&P 2,068.76 0.39
Arrow FTSE 6,535.68 0.76
Arrow DAX 10,890.63 1.52
Arrow CAC-40 4,711.54 2.01
Arrow Nikkei 20,112.12 2.08
Arrow H.Seng 25,236.28 3.18
Arrow Sensex 28,208.76 0.41

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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln