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South Korea slams North Korea's 'provocative' missile launches SEOUL: South Korea on Sunday condemned North Korea's latest short-range missile launches as "provocative" and again urged it to hold talks about a suspended jointly-run industrial park. The North Saturday launched three short-range guided missiles off its east coast, apparently as part of a military drill, at a time when cross-border relations remain icy after months of simmering tension. The South and US forces had earlier been on heightened alert for any test of medium-range Musudan missiles by the North, which for weeks made threats of nuclear or conventional attacks on Seoul and Washington. The latest launch only involves short-range missiles. But it poses threats to the region and should be "stopped immediately", said the Seoul ministry that handles cross-border affairs. "We find it deplorable that the North does not stop provocative actions such as the launch of guided missiles yesterday," said unification ministry spokesman Kim Hyung-Seok. "We call on ...


Philippines waiting for Taiwan anger to cool MANILA: The Philippines is waiting for tempers in Taiwan to cool before settling the dispute over a shot Taiwanese fisherman, the head of an office in charge of relations said Sunday.Issues like Manila's "one-China" policy and comments by Taiwanese investigators branding the incident as murder have complicated the situation, said Amadeo Perez, chairman of the Manila Economic and Cultural Office."We are waiting for the right time because I was told by the secretary-general for Asian ...

Russia retrieves mice, newts from space MOSCOW: A Russian capsule filled with 45 mice and 15 newts along with other small animals returned from a month's mission in orbit on Sunday with data scientists hope will pave the way for a manned flight to Mars.Russian Mission Control said the Bion-M craft landed softly with the help of a special parachute system in the Orenburg Region about 1,200 kilometres (750 miles) southeast of Moscow.The capsule was also carrying snails and gerbils as ...

China investigates North Korea boat hijack claim: official BEIJING: Chinese authorities were on Sunday investigating claims that unidentified North Koreans hijacked a Chinese fishing boat, kidnapping 16 sailors and demanding a ransom, local media and an official said.Armed North Koreans on May 6 hijacked the boat and escorted it towards North Korea while it was sailing in waters around 70 kilometres (40 miles) from North Korea's western coast, reports and the boat's owner Yu Xuejun said."The crew were taken away by a North ...

Sailor dies during Sri Lanka victory parade COLOMBO: Sri Lanka's navy on Sunday recovered the body of a sailor who drowned during a parade marking the fourth anniversary of the defeat of Tamil Tiger rebels, an official said.The body was found near a beach in Colombo where his small boat capsized while taking part in the victory celebrations presided over by President Mahinda Rajapakse on Saturday."The boat was salvaged on Saturday and four crewmen were rescued, but one officer went missing and ...

Art Basel to bring international flair to Hong Kong HONG KONG: Art lovers, collectors and gallerists will gather on Thursday for Hong Kong's inaugural edition of Art Basel, sealing the city's status as an international art hub and Asia's leading art destination.The four-day annual show is the world's premier art fair and has until now only been held in Switzerland and the United States each year. More than 2,000 international artists and 245 leading art galleries will come together for the event to be ...

Boosting Ethiopia's economy, one shoe at a time ADDIS ABABA: For Bethlehem Tilahun, the answer to ending poverty in Africa is not aid or sympathy or donations from the West. It's shoes.Specifically, building a successful shoe manufacturing business that creates jobs, empowers employees, like the one she founded SoleRebels, the first ever global footwear company to come out of a developing country."You don't build your economy based on aid, you want to build your economy based on the way SoleRebels built its business, ...


 



 
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyApril
Trade Balance $-1.779 bln
Exports $2.130 bln
Imports $3.909 bln
WeeklyMay 20, 2013
Reserves $11.601 bln