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Greek economy grows in second quarter, helped by consumer spending ATHENS: Greece's economy grew 0.9 percent in the second quarter, compared with previous flash estimate of 0.8 percent earlier this month, helped by consumer spending and net exports, data showed on Friday.Analysts say the data supports a more favourable outlook for the year as a whole than the official forecast for a 2.3 percent contraction and confirms that despite political upheaval, Greece has not returned to a recession in 2015."Capital controls and a higher fiscal burden will weigh on consumption in the second half. But the reading will cushion the full-year performance from an expected slowdown in economic activity in the second half," National Bank economist Nikos Magginas said.Consumption grew 1.1 percent quarter-on-quarter, with net exports helped by a 4.9 percent fall in imports compared with the previous three-month period. Exports rose just 0.1 percent."Consumer spending was the main driver, its resilience amid a period of uncertainty helped by the ...


European shares ease back after rollercoaster week LONDON: European shares eased on Friday, having already recouped all their losses from a bruising eight percent drop earlier this week, with markets cooling off despite hopes for more help from central banks. The pan-European FTSEurofirst 300 index slipped 0.3 percent.The index was broadly flat on the week but still down nearly 10 percent in August and at risk of its worst monthly loss in four years. The euro zone's blue-chip Euro STOXX 50 index ...

Libya recovers 82 bodies after migrant boat sinks ZUWARA: Libya has recovered 82 bodies washed ashore after a boat packed with migrants sank near the western town of Zuwara, a Red Crescent official said on Friday. "About 100 people are still missing," said Ibrahim al-Attoushi, the Red Crescent official, adding that about 198 migrants had been rescued. The boat sank on Thursday after leaving Zuwara, a major launchpad for smugglers shipping migrants to Italy by exploiting a security vacuum in Libya where rival ...

Oil steadies after strong gains as equities rally LONDON: Oil prices steadied on Friday after bouncing back from six-and-a-half-year lows on recovering equities markets, strong US economic growth and news of low crude supplies from Nigeria. Oil saw its biggest one-day bounce since 2009 on Thursday, with North Sea Brent and US light crude rising more than 10 percent. US crude is on track for its first weekly gain in nine weeks, ending its longest losing streak since 1986. Global oil markets have ...

Strong domestic demand supports Q2 Polish growth WARSAW: Polish economic growth remained steady in the second quarter of 2015, supported by strong domestic demand, data showed on Friday, reinforcing expectations that interest rates will not be cut further.Growth in central and eastern Europe's largest economy eased slightly to 0.9 percent quarter-on-quarter in April-June, from 1.0 percent in the previous quarter, the statistics office data showed.In annual terms, growth slowed to 3.3 percent, in line with a previous flash estimate and below the ...

US, China stress positives ahead of Xi trip BEIJING: China and the United States stressed the positives in their complex relationship on Friday during meetings between US National Security Adviser Susan Rice and Chinese officials ahead of a US visit by Chinese President Xi Jinping next month. While the world's two largest economies have important mutual interests, like trying to rein in North Korea's nuclear programme, deep disagreements exist over everything from Internet security to China's claims in the South China Sea. "We ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln