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China chemical plant explosion kills one BEIJING: An explosion at a chemical plant in China killed at least one person, local media reported Tuesday, just weeks after a massive blasts in a northern port killed 159.Pictures said to show a fireball in Dongying, in the eastern province of Shandong, circulated on social media. Their authenticity could not be immediately verified.The explosion occurred on Monday night at the Diao Kou Xiang Bin Yuan Chemical Co., according to a news website run by the local government. The fire was extinguished about five hours later and "people in charge of the company" were detained by police, the site said.The blast came in the wake of giant detonations at a hazardous goods storage facility that devastated a swathe of the city of Tianjin, a key Chinese port. The toll rose to 159 on Tuesday, with another 14 people still missing. The disaster sparked widespread outrage over alleged safety violations and ...

Irish unemployment steady at 9.5pc at end-August DUBLIN: Ireland's unemployment rate was stable at 9.5 percent at the end of August, data from the central statistics office showed on Tuesday. Employment has grown strongly in Ireland since the jobless rate hit a high of 15.1 percent in early 2012 and revised data last week showed the rate fell to 9.5 percent in June after provisional figures suggested it had stalled at a higher level. Copyright Reuters, 2015

Russian finance ministry supports limiting budget plan to one year MOSCOW: Russia's Finance Ministry supports a proposal to limit budgetary planning to one year, as opposed to the present three-year planning, Finance Minister Anton Siluanov said on Tuesday. "In order to minimise the likelihood of mistakes in preparing the budget, we are proposing to take a pause for a more detailed evaluation of the developing situation," he said, citing volatile conditions on global commodity and financial markets. "We also support an initiative to retreat from ...

China cabinet to relax requirements for fixed-asset investment BEIJING: China's cabinet will relax requirements for fixed-asset investments, including lowering minimum capital requirements, a statement published on its website said on Tuesday. China would also establish a 60 billion yuan ($9.43 billion) national small- and medium-enterprise development fund, it said. The move comes as China's economy sputters after decades of double-digit growth and stock markets are subject to continued volatility after routs earlier this summer. Also on Tuesday, weak August factory data increased investors' ...

Eurozone unemployment lowest for three years BRUSSELS: Unemployment in the eurozone fell to 10.9 percent in July, the first time it has dipped below 11 percent since February 2012, raising hopes that economic recovery is taking hold, official data showed on Tuesday.Joblessness in the 19-nation currency bloc fell from 11.1 percent in June, the EU statistics agency Eurostat said, but with youth unemployment at a still high 21.9 percent.As usual, the level of joblessness varied widely across the eurozone, but the ...

South Korea August exports plunge by most since 2009 SEOUL: South Korea's exports in August suffered their biggest fall in six years, hit by weak global demand and falling prices, the trade ministry said Tuesday.Exports plunged 14.7 percent on-year to $39.33 billion, the largest percentage fall since August 2009 when the comparable figure dipped 20.9 percent on-year.It also represented the eighth consecutive month of decrease in exports.The trade ministry said exports would likely continue shrinking this month before seeing a slow recovery in the ...

Venezuela takes census in border area amid row with Colombia CARACAS: Venezuela bolstered its military presence and started taking a census Monday in towns along the border with Colombia as part of a diplomatic spat that has seen more than 1,000 Colombians deported.The countries have been locked in a row since Venezuelan President Nicolas Maduro closed part of the border this month after unidentified assailants attacked a Venezuelan anti-smuggling patrol, wounding three soldiers and a civilian.Maduro blamed the attack on right-wing paramilitaries from Colombia.He has ...


Index Closing Chg%
Arrow DJIA 16,058.35 2.84
Arrow Nasdaq 4,636.11 2.94
Arrow S&P 1,913.85 2.96
Arrow FTSE 6,058.54 3.03
Arrow DAX 10,015.57 2.38
Arrow CAC-40 4,541.16 2.40
Arrow Nikkei 18,165.69 3.84
Arrow H.Seng 21,185.43 2.24
Arrow Sensex 25,696.44 2.23

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Banking Review 2014

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