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Uganda coffee exports drop 17pc in October  KAMPALA: Uganda's coffee exports fell 17 percent in the month of October to 178,874 60-kg bags of coffee after heavy rains in the coffee-growing regions washed away roads, the industry regulator said.   A source at the Uganda Coffee Development Authority (UCDA) told Reuters on Friday that the rains had also hampered drying of beans in Africa's largest exporter of the crop.   Copyright Reuters, 2012

Israel JERUSALEM: President Shimon Peres on Friday hailed a "determined" stance from Russia on Iran's nuclear programme and said Moscow's position on a range of issues was close to Israel's.   "The positions of the Russians are much more complex than what we think more, let's say, on Israel's side on a lot of issues," Peres told Israel's army radio in Moscow at the end of a four-day visit during which he held talks with President Vladimir Putin.   "Without ...

New Anglican leader Welby backs female bishops LONDON: Incoming Archbishop of Canterbury Justin Welby said on Friday he would vote for the ordination of female bishops, an issue that has caused years of wrangling among the world's Anglicans.   "I will be voting in favour and join my voice to many others in urging the synod to go forward with this change," Welby told a press conference after he was named as the next head of the Church of England.   A vote by the General ...

South Africa jails Thai rhino horn trader for 40 years JOHANNESBURG: A Thai national who pleaded guilty to organising bogus trophy hunts to sell rhino horns on the international black market was sentenced to 40 years in a South African jail on Friday, in what is being hailed as a landmark ruling.   Chumlong Lemtongthai received the unusually harsh sentence of four decades in jail from a Johannesburg magistrate court, amid a record number of unnatural rhino deaths this year.   Lemtongthai had admitted to paying prostitutes to pose ...

Greece insists ATHENS: Finance Minister Yannis Stournaras sought on Friday to reassure nervous Greeks about delays in unlocking a vital tranche of international aid after European leaders warned a deal could be weeks away despite the adoption of more painful austerity measures.   "There is no reason to worry," Stournaras said, just seven days away from a possible default by the debt-laden country which is surviving on a massive bailout package from the European Union, International Monetary Fund and ...

S&P raises Latvia rating on fiscal improvement, euro prospects  RIGA: Standard & Poor's raised its credit rating on Latvia on Friday and said it may do so again if the country, which has rebounded from a battering during the global financial crisis, joins the euro.   S&P raised Latvia to BBB/A-2 from BBB-/A-3, making it more attractive to investors, citing the economic and fiscal improvements in a country that had suffered a 20 percent drop in output after the global crisis.   Latvia underwent a harsh austerity programme ...

Britain to end aid to India in 2015 LONDON: Britain will stop all aid to India in 2015 and the assistance budget will be reduced by around £200 million a year until then, the international development minister said.   Justine Greening said in a statement that after holding discussions with the Indian government earlier this week "we agreed that now is the time to move to a relationship focussing on skills-sharing rather than aid."   Copyright AFP (Agence France-Presse), 2012


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln