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Obama urges young Kenyans to shape their future       NAIROBI: Billing himself as America's first Kenyan-American president, Barack Obama implored Kenya's youthful populous to cast aside "bad traditions" and forge a more just and inclusive future Sunday. Seeking to leverage his status as a "son of the soil" and his vast local popularity, Obama said his ancestral homeland was at a crossroads replete with peril and opportunity."The future of Africa is up to Africans," he told a raucous crowd in an indoor arena at Nairobi's Kasarani stadium complex. "For too long I think that many looked to the outside for salvation and focused on somebody else being at fault for the problems of the continent," he said.Taking up the mantle of brother and well-wishing friend, he sketched out the prospect of country poised to make its mark on the world."We can see that future for Kenya on the horizon, but tough choices are going to have to be made."Treating ...


Syria's Assad says army consolidating in most important areas BEIRUT: Syrian President Bashar al-Assad said on Sunday the army had been forced to give up areas in order to hold onto more important ones in its fight with insurgents, and the scale of the war meant the military faced a man power shortage.He also said groups fighting to topple him had received increased backing from their state sponsors in a reference to countries including Turkey and Saudi Arabia."Sometimes, in some circumstances, we are forced ...

At least 10 dead in Myanmar floods YANGON: Floods triggered by torrential monsoon rains have killed at least 10 people in Myanmar in the last 48 hours, state media and officials reported Sunday.Six people were killed by flash floods on Saturday in Thabeikkyin, central Mandalay Region, the Ministry of Information said, while another three perished the same day in Thibaw, northern Shan State.A 19-year-old boy also died in Muse, Shan State, on Friday, the ministry said.State media Sunday said those killed in ...

6.0-magnitude earthquake strikes off Indonesia: USGS JAKARTA: A strong 6.0-magnitude earthquake struck off the Indonesian island of Java Sunday, the US Geological Survey reported, but local officials said there was no risk of a tsunami.The quake struck at 2:05 pm local time (0705 GMT), 93 kilometres (57 miles) south of Krajan Tambakrejo village in east Java province at a depth of 59 kilometres, the USGS said.Mochammad Riyadi, from the Indonesian meteorology, climatology and geophysics agency, said there were no reports of ...

Syria rebel rocket kills five children BEIRUT: Rebel rocket fire on a government-held area of Syria's second city Aleppo killed five children, four of them brothers, a monitoring group said on Sunday.The Saturday evening rocket struck the Shahba al-Jadida district in the west of the city, where loyalist forces have held out since rebels seized the east in 2012, the Syrian Observatory for Human Rights.Civilian casualties have been high in Aleppo, where both sides are accused of indiscriminate bombing.Copyright AFP (Agence ...

India PM promises billions to Bihar as elections loom PATNA: Indian Prime Minister Narendra Modi on Saturday took his political campaign to the impoverished state of Bihar, promising billions of dollars for infrastructure projects as he seeks to win support ahead of crucial elections there.Modi committed to allocate funds amounting to some $5.8 billion over five years to help develop the eastern state, as he addressed a gathering in state capital Patna. The Hindu nationalist premier also launched railway, highway, gas and energy projects, ...

Creditors expected in Greece by Sunday night: government source ATHENS: Representatives from Greece's international creditors are expected to arrive in Athens by Sunday night to start talks on a huge new international bailout for the crisis-hit country, a Greek government source said Saturday.A European Commission spokesperson, however, could not confirm the plans, saying only that representatives of the European Union, European Central Bank and International Monetary Fund -- from whom Greece is seeking a bailout worth up to 86 billion euros ($94 billion) over ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln