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Poroshenko says Ukraine waging 'real war' with Russia KIEV: Ukrainian President Petro Poroshenko sparked fresh Kremlin fury on Wednesday by warning that his crisis-torn country was fighting a "real war" against Russian aggressors that could escalate at any time.The pro-Western leader said the weekend capture of two purported Russian special forces members proved that the separatist uprising in the industrial east of Ukraine was a guise for a Moscow-orchestrated campaign aimed at breaking up the ex-Soviet state."Can I be absolutely clear with you this is not a fight with Russian-backed separatists, this is a real war with Russia," the 49-year-old Ukrainian leader told the BBC."The fact that we captured... Russian regular special forces soldiers (is) strong evidence of that."Ukraine's military on Tuesday showed off two wounded Russians who had been taken prisoner during a firefight in Lugansk -- a blue-collar region that together with neighbouring Donetsk revolted against Kiev's shift toward the West 13 months ago.The men testified ...


US mortgage applications fall in latest week: MBA NEW YORK: Applications for US home mortgages fell last week as interest rates rose to their highest level since December 2014, an industry group said on Wednesday.The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 1.5 percent in the week ended May 15.The MBA's seasonally adjusted index of refinancing applications rose 0.3 percent, while the gauge of loan requests for home purchases, ...

North Korea says it has miniaturised nuclear weapons SEOUL: North Korea said Wednesday it has succeeded in miniaturising its nuclear weapons, a development which could allow them to be delivered by missile."It has been a long time since we began miniaturising and diversifying our means of nuclear strike," the powerful National Defence Commission (NDC) said in a statement carried by the official Korean Central News Agency."We have also reached the stage where the highest accuracy rate is guaranteed not only for short- and ...

Malaysia, Indonesia to 'provide shelter' for boatpeople KUALA LUMPUR: Malaysia and Indonesia on Wednesday offered to provide "temporary shelter" to thousands of migrants stranded at sea, provided that they could be resettled or repatriated within a year."Indonesia and Malaysia agreed to continue to provide humanitarian assistance to those 7,000 irregular migrants still at sea," Malaysian Foreign Minister Anifah Aman and his counterpart Retno Marsudi of Indonesia said in a joint statement after talks on the issue."We also agreed to offer them temporary ...

Iran says can't afford Ahmadinejad cash handouts TEHRAN: Iran can no longer sustain the billions of dollars needed to pay cash handouts enacted by former president Mahmoud Ahmadinejad, a top official said Tuesday, signalling plans to halt them.Since coming to power in 2013, Hassan Rouhani, Ahmadinejad's successor, has sought to put Iran's economy back in order after it plunged into recession and was hit hard by inflation.Tackling the handouts -- a partial replacement after subsidies on staples such as electricity, gas, water ...

'No question' of migrant quotas in Europe: Hollande BERLIN: French President Francois Hollande said on Tuesday there was "no question" of introducing a migrant quota system in Europe, as proposed by the European Commission.Speaking at a joint press conference with German Chancellor Angela Merkel, Hollande said there was "no question of having immigrant quotas" because rules on border checks and policies for controlling immigration already existed.Copyright AFP (Agence France-Presse), 2015

Merkel and Hollande urge speedy Greece deal     BERLIN: French President Francois Hollande and German Chancellor Angela Merkel on Tuesday stressed the need to speed up efforts to reach a loan deal between Greece and its creditors."We must accelerate it because the deadline is approaching," said Hollande during a Berlin visit. Merkel agreed that "the talks should be accelerated" and called for "significant progress" in Greece's talks with the International Monetary Fund, European Commission and European Central Bank.Copyright AFP (Agence France-Presse), 2015


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln