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Australia PM Turnbull admits 'concerns' about asylum seeker camps SYDNEY: Australia's new Prime Minister Malcolm Turnbull Wednesday admitted he had concerns about asylum seekers being held in Pacific island camps, but gave no indication of immediate change to the hardline policy.All asylum seekers coming by boat to Australia are sent to camps in Papua New Guinea and Nauru and ultimately denied resettlement in Australia even if they are found to be genuine refugees.Asked about the plight of hundreds of these people, some of whom have been in the much criticised camps for two years, Turnbull admitted to having concerns."I understand the issue, I have the same concerns about it, about the situation of people on Manus and Nauru... as I would think almost all Australians do," he said in an interview with Sky News."But what I am not going to do, is make changes to our border protection policy sitting here with you," he told the interviewer."Our policies will ...

China's economy is fundamentally strong: Australian Treasurer SYDNEY: China's economy is fundamentally strong despite slowing growth, Australia's new Treasurer Scott Morrison said Wednesday, urging his country's opposition to support a new free trade pact with Beijing.Disappointing manufacturing figures from China Wednesday renewed fears about the world's second largest economy and global growth, and sent commodity-linked currencies falling along with Asian stocks.Growth in resource-rich Australia is closely tied to its largest trading partner China, which is also the world's largest commodities consumer. In ...

China factories slow again: survey BEIJING: Chinese factory activity shrank at its fastest pace in six and a half years in September, data showed Wednesday, the latest in a litany of bad news undermining hopes of an uptick in the world's second-largest economy.The news sent Chinese stock markets down and will come as a further worry to global investors already fretting about the spillover effects of China's slowdown.It also comes a day after the Asian Development Bank became the latest ...

Rajapaksa criticises UN findings on Sri Lanka war crimes COLOMBO: Sri Lanka's former president Mahinda Rajapaksa criticised on Tuesday the findings of a UN probe into war crimes and called on the government to reject the report, which called for suspects to be prosecuted by a hybrid court with international judges. Rajapaksa won the 26-year war against Tamil Tiger separatists in 2009, but his military was accused of killing thousands of civilians during the final weeks of the conflict. The UN report found "patterns ...

IMF chief urges all lenders to join Ukraine debt deal KIEV: IMF chief Christine Lagarde on Tuesday pressed Ukraine's hold-out creditors such as Russia and a handful of Western investment houses to write off some of the crisis-wrecked country's massive debt.Lagarde's statement came as an International Monetary Fund mission arrived in Kiev to assess Ukraine's committment to economic restructuring and belt-tightening measures that would warrant the release of another portion of its $17.5 billion (15.7 billion euro) loan.A group of smaller private lenders have reportedly ...

Colombia and Venezuela to normalize ties after border row QUITO: Colombia and Venezuela agreed on Monday to restore diplomatic dialogue and oversee "progressive normalization" of their border, after a meeting between Colombian President Juan Manuel Santos and his counterpart Nicolas Maduro.The two countries have been locked in a border conflict for a month, after Maduro ordered the closure of part of the frontier, saying some of his military were attacked during an anti-smuggling operation by Colombian paramilitaries.Ecuadoran President Rafael Correa, who hosted the talks ...

Britain urges closer China ties despite economic risk SHANGHAI: Britain's finance chief George Osborne will urge closer business ties with China as he visits the country's commercial hub Shanghai on Tuesday, according to a speech text, despite slowing growth and a stock market slump in the world's second-largest economy.Osborne, Britain's Chancellor of the Exchequer, will visit the Shanghai stock exchange, which has seen its benchmark index plummet nearly 40 percent since June as a bubble bursts, while worries over flagging Chinese growth have ...


Index Closing Chg%
Arrow DJIA 16,472.37 1.23
Arrow Nasdaq 4,707.77 1.74
Arrow S&P 1,951.36 1.43
Arrow FTSE 6,129.98 0.95
Arrow DAX 9,553.07 0.46
Arrow CAC-40 4,458.88 0.73
Arrow Nikkei 17,725.13 0.02
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Arrow Sensex 26,220.95 0.25

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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 $-1.998 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklySeptember 21, 2015
Reserves $18.726 bln