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White House admits Biden mulling 2016 run WASHINGTON: The White House on Monday acknowledged that Vice President Joe Biden is still weighing a possible run for the top job, amid controversy surrounding Democratic frontrunner Hillary Clinton.Biden, President Obama's deputy for nearly seven years, has previously said he would make a decision on entering the 2016 race by the end of the summer."I would assume that that means he's got a another month or so to think about this and announce a decision," said White House spokesman Josh Earnest.Obama has so far been careful not to pick among the Democratic candidates.But several close aides have jumped from the White House to Clinton's campaign in recent months.Her struggles to explain why she used a private email server to conduct state business has raised questions about her status as presumptive nominee.Democrats have long been concerned about the prospect of a half-hearted primary race leading to Clinton's nomination.Biden would provide Clinton ...


Global economy 'strong enough' to withstand China shock: Hollande BERLIN: The global economy is "strong enough" to withstand any slowdown in China, French President Francois Hollande said Monday, after a rout in world markets over concerns of the Asian giant's slowing growth."The world economy is strong enough to also have prospects for growth which are not simply linked to the situation in China," Hollande told reporters, on the sidelines of a meeting in Berlin with German Chancellor Angela Merkel and Ukraine President Petro Poroshenko.Copyright ...

UK's Osborne: China volatility won't shock Europe, focus on growth STOCKHOLM: British finance minister George Osborne said on Monday he did not expect the slump in Chinese share prices, which has hit financial markets around the world, to pose a threat to Europe's economy. "I am reasonably confident, although I don't think that we can be unaffected by what happens in China, I don't think it's going to cause immediate sharp problems in Europe," Osborne said in response to a question from a reporter during ...

Turkish 2015 GDP to grow more than 3pc ISTANBUL: The Turkish economy will grow more than 3 percent this year despite the possibility that investment decisions will be postponed as investors wait for the outcome of an expected snap election, Economy Minister Nihat Zeybekci said on Monday. In a written statement, Zeybekci said that there had been an "unwanted" weakening of the Turkish lira and a rise in yields, but that this definitely did not reflect Turkey's economic realities.Copyright Reuters, 2015

China's slowing economy: What's wrong? SHANGHAI: Asian stocks nosedived on Monday, led by sharp falls in Shanghai as concerns mount over the health of China's economy -- the world's second largest.Although Chinese growth, a major engine of global expansion, has been slowing for some time, financial markets have nevertheless tumbled over fears it will decelerate faster than expected.Here are a series of answers to key questions on the Chinese stock market and the wider economy:- What has China done to ...

Japan premier hits out at Russian PM's visit to disputed islands TOKYO: Japanese Prime Minister Shinzo Abe on Monday criticised his Russian counterpart Dmitry Medvedev's weekend visit to disputed islands, aggravating a long-running dispute over the archipelago.The visit "conflicts with Japan's position and hurts the feelings of the Japanese people. It is extremely regrettable," Abe told a parliamentary panel when asked about the trip.Abe's first comments on the visit come after the Russian prime minister on Saturday arrived in Iturup, one of four in the Kuril ...

Fire at Venezuela nursing home kills eight CARACAS: A major fire ripped through a private nursing home in Venezuela's capital Caracas on Sunday killing eight elderly people, authorities said, calling it "a miracle" there were not more victims.Firefighters were able to rescue more than 30 others and the local mayor praised neighbors who raced to the Chivacoa Seniors' Center as it was engulfed in flames and thick smoke."Unfortunately there are eight victims, three were burned to death and five suffocated," Ramon Muchacho, ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln