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IMF sees Belarus's GDP falling 2.25pc in 2015 KIEV: The Belarussian economy is likely to contract by 2.25 percent in 2015 and will remain under pressure from an economic downturn in neighbouring Russia, the International Monetary Fund said on Monday.The former Soviet republic's economy has been battered by a plunge in the Russian rouble and the conflict in Ukraine.In March the finance ministry said it would ask the IMF for a new financing package. "The outlook is for a recession and continued external pressures. With Russia - the largest trading partner - in a downturn, the Belarusian economy is projected to contract by 2.25 percent in 2015, led by falling exports," the IMF said in a statement. It said inflation would likely reach 22 percent and recommended the central bank fully implement a plan focused on bringing down inflation to single digits. Earlier in May the central bank shifted its monetary policy regime to use money supply as ...

Jeddah awaits 15,000 pilgrim flights ISLAMABAD: King Abdulaziz International Airport has predicted the arrival and departure of 15,000 flights carrying pilgrims over the next few months.The airport's Haj and Umrah Director Khalid Al-Harby said all flights with pilgrims will be directed to the Haj Terminal. The terminal will be open until mid-Ramadan, he said, Saudi Gazette reported."The northern and southern halls will reopen and operate as usual, receiving all passengers, after the 22nd day of Ramadan," he said.Saudi ministries of ...

Iran defence minister in Baghdad for talks BAGHDAD: Iran's defence minister arrived in Baghdad on Monday for talks with his counterpart, a day after the Iraqi government suffered one of its worst losses with the fall of Ramadi to militants.Hossein Dehghan "will hold consultations with Iraqi Defence Minister Khaled al-Obeidi," a ministry official said on condition of anonymity, adding that the visit was pre-scheduled.Copyright AFP (Agence France-Presse), 2015

Thai economy grows a sluggish 0.3pc in Q1 BANGKOK: Thailand's economy expanded 0.3 percent on-quarter in January-March, official data showed Monday, highlighting the task ahead for the military junta that seized power in a coup last year vowing to kickstart growth after months of political instability.And in another blow to the country's year-old government the National Economic and Social Development Board (NESB) lowered its growth forecast for this year. Year-on-year first quarter growth came in at three percent, the NESB said.But Krystal Tan, ...

One US Marine dead, 21 hurt in 'hard landing' WASHINGTON: One Marine was killed and 21 others required hospital treatment after their MV-22 Osprey aircraft made a "hard landing" during training in Hawaii on Sunday, the US military said.The "mishap" was under investigation, a Marine statement said, and residents told local media they saw thick, black smoke rising from the area around Bellows Air Force Station."Twenty-two Marines were aboard at the time and all other 21 have been transported to local hospitals for assessment ...

Burundi leader makes first appearance since failed coup BUJUMBURA: Burundi's President Pierre Nkurunziza on Sunday made his first appearance since an attempted coup, warning of a threat from Shebab militants and sending a clear message he is in charge of the central African nation.Dressed in a blue blazer and polo shirt, the president smiled and shook hands with reporters at the presidency in Bujumbura's city centre. He gave only a brief statement, without even mentioning the failed plot to overthrow him.A group of ...

Iran aid ship to dock in Yemen Thursday: captain TEHRAN: An Iranian aid ship bound for Yemen in defiance of US warnings has entered the Gulf of Aden and is expected to reach port on Thursday, media reported.The vessel, the Iran Shahed, is carrying 2,500 tonnes of aid including flour, rice, canned food, medical supplies and bottled water, all urgently needed in the conflict-wracked and impoverished state. But the ship's mission has been overshadowed by US calls for it to head to a UN ...


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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 $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln