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African Union troops retreat in Somalia as Shebab attack MOGADISHU: African Union troops fighting Somalia's Shebab insurgents have pulled back from several key towns following a series of attacks by the Al-Qaeda-affiliated fighters, local officials said Friday.The withdrawal, a rare retreat after AU troops seized swathes of territory from the radical militants, includes the towns of Qoryoley and Awdhegele, which have since been taken over by Shebab in Somalia's southern Lower Shabelle region.The Islamic militants have stepped up their attacks during Islam's holy fasting month of Ramadan."They pulled out of Qoryoley, there is not a single soldier left behind," local government official Mohamed Haji Osman said. Residents reported that the Shebab had since moved in and hoisted their black flag over the town, some 80 kilometres (50 miles) southwest of the capital Mogadishu."Shebab fighters entered the town and their flag is flying over the district headquarters. All AMISOM and Somali troops pulled out," said resident Ahmed Hassan.Awdhegele district commissioner ...

Berlin sees no automatic need for Greek debt restructure BERLIN: Germany said Friday that figures released by the International Monetary Fund on Greece's critical financing needs "by no means" automatically necessitate restructuring of its huge debt.Finance Ministry spokesman Martin Jaeger said despite IMF data published a day earlier that painted a grim overall fiscal picture, "by no means can one deduce that a debt restructure is imperatively required."Days before Greeks vote in a referendum on whether to accept its bailout terms, the IMF said ...

Greek pro-bailout 'Yes' vote in referendum ahead ATHENS: The number of Greeks planning to vote 'Yes' in this weekend's referendum in favour of accepting the latest bailout proposals is slightly higher that those opting for 'No', a survey said Friday.According to the poll by the Alco institute on June 30 and July 1, after capital controls were introduced in Greece, 44.8 percent intend to vote 'Yes', 43.4 percent are for 'No' and 11.8 percent of respondents are undecided ahead of Sunday's referendum.Copyright ...

Russia, Ukraine trade barbs over politics, gas as hostility deepens MOSCOW/KIEV: Russia expressed "deep concern" on Thursday over Ukraine's plans to decentralise power as part of a peace deal with separatist rebels, underlining the gulf between Moscow and Kiev as the conflict rumbles on despite a ceasefire. Differing interpretations of a February peace agreement signed in Minsk, Belarus, to end the fighting in Ukraine's eastern regions have left the conflict in limbo, with more than 6,500 people killed since it broke out in April last ...

Spanish jobless claims fall in June for fifth straight month MADRID: The number of registered unemployed fell in Spain for the fifth straight month in June, government data showed Thursday, but the country continues to battle one of the highest jobless rates in Europe. Jobless claims declined last month by 94,727 or 2.25 percent to 4.12 million, the labour ministry said in a statement.The number of people without work fell across all sectors except for agriculture and in every region although the majority of new ...

US train with toxic chemicals derails, catches fire WASHINGTON: A train carrying toxic chemicals derailed in Tennessee and caught fire, prompting a large-scale evacuation, firefighters said Thursday.The train derailed near Maryville, close to the city of Knoxville, carrying acrylonitrile, a flammable, toxic compound that poses respiratory risks, firefighter Kermit Easterling said.Some 5,000 residents are being evacuated, and firefighters are going door to door wearing breathing equipment to get people away from the fire, he said.Firefighters are not battling the flames because of the ...

'No breakthrough yet' in Iran talks, Britain says VIENNA: British Foreign Secretary Philip Hammond said Thursday there was no breakthrough yet in the Iran nuclear talks as they stretched into a sixth day, but insisted work was continuing for a deal."I don't think we are at any kind of breakthrough moment yet," Hammond said as he arrived in Vienna for talks with US Secretary of State John Kerry.But Hammond stressed: "The work goes on. You're going to see over the next few days ...


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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 01, 2015
Reserves $18.5 bln