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Xi heads to Africa summit as Chinese investment slows JOHANNESBURG: African leaders and Chinese President Xi Jinping will hold two days of talks in Johannesburg starting Friday as the continent seeks to secure further massive investment despite China's economic slowdown.A slew of deals are expected to be announced for power plants, infrastructure and agriculture projects, but analysts say Chinese largess in Africa has already been reined in this year.China drove the commodity boom as it bought up oil, iron ore, uranium and copper from around the world over the past decade, but its growth has dipped this year, triggering a sharp slump in prices.Speaking to reporters in Beijing, vice minister of foreign affairs Zhang Ming billed China's "new normal" as a boon to Africa, saying the continent was now at "the early stage of industrialisation"."China-Africa cooperation has now come to a stage where it needs to be upgraded and transformed," he said.But Africa is already feeling the pinch, with ...

Cheap oil has ECB over a barrel FRANKFURT: Falling oil prices can be both a boon and bane for the global economy, but for the European Central Bank they are now a major headache because they are keeping eurozone inflation much lower than it would like.On paper, low oil prices should be positive for the economy because they boost purchasing power.But in the current environment, they could also be seen as a sign of slowing demand, observers argue, posing a challenge for ...
New dad Zuckerberg vows to give away Facebook fortune SAN FRANCISCO: Facebook co-founder Mark Zuckerberg on Tuesday announced he had become a father -- and pledged to give away his fortune to make the world a "better place" for baby daughter Max and others.In a letter to Max posted on his Facebook page, Zuckerberg and his wife said they were going to give away 99 percent of their company shares -- with an estimated value of $45 billion -- in an effort to make ...
Army Aviation proves mettle in ongoing Zarb-e-Azb operation: COAS RAWALPINDI: Chief of Army Staff (COAS), General Raheel Sharif said on Tuesday that Army Aviation has proved its mettle not only in ongoing operation Zarb-e-Azb but also has been always at the forefront to help the nation during natural calamities in earthquake / flood relief activities. Army's significant achievements, over past few years, are greatly attributable to the active role of Army Aviation. The untiring efforts of aviation pilots and their sacrifices deserve highest accolade. ...
Peace in Syria when West ends support for 'terrorists': Assad PRAGUE: President Bashar al-Assad said peace would only come to war-torn Syria when the West and its Middle Eastern allies "stop supporting terrorists", in an interview aired Tuesday on Czech TV.Asked what it would take to bring an end to Syria's devastating four-year civil war, Assad said: "When those countries that I mentioned -- France, UK, US, Saudi Arabia, Qatar and some other -- stop supporting those terrorists."The next "day the situation will be better ...
US deploying elite force to boost fight against IS WASHINGTON: The United States said on Tuesday it was deploying an elite new force of special operations troops to Iraq to conduct raids, free hostages, capture Islamic State leaders and carry out "unilateral operations" in neighboring Syria.Defense Secretary Ash Carter offered few details on the new expeditionary group. It is separate from a previously announced deployment of up to 50 U.S. special operations troops in Syria to coordinate on the ground with U.S.-backed rebels fighting ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln