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Conservative candidate elected mayor of Buenos Aires BUENOS AIRES: Conservative PRO Party candidate Horacio Rodriguez Larreta was elected mayor of Buenos Aires Sunday in a closely fought race with the opposition ahead presidential elections later this year. With 99 percent of the vote counted, Larreta, the head of the rightist PRO Party, had secured 51.6 percent of the vote, just beating his opponent, ECO Party leader Martin Lousteau, who garnered 48.4 percent.Larreta replaces the current mayor, PRO Party's Mauricio Macri, who will run for presidency in October against leftist Cristina Kirchner, in power since 2007. Larreta celebrated the victory after the ballot count Sunday. "We are here again celebrating the huge pride of being supported by the local people," 49-year-old Larreta said. "I want to thank the residents who voted for us, and those who did not. They know that we always work for everyone equally."Polls had suggested the PRO candidate would beat his ECO Party rival ...

Girl dies in Mexico clashes after vigilante leader arrested MORELIA: A 12-year-old girl was killed and four others were injured in violent protests after the leader of a local vigilante group was arrested in the western Mexican state of Michoacan Sunday.Gunfire erupted after the arrest of the leader of the self-defense militia, Cemei Verdia, and both soldiers and members of the vigilante group swapped blame for the violence.The girl died of a gunshot wound, while four others were injured, including a six-year-old and a ...

US housing sector picks up in June WASHINGTON: New US home construction and new building permits both jumped in June, demonstrating rising strength in the housing market, the Commerce Department reported Friday.New construction was up 9.8 percent from May to an annual pace of 1,174,000 units, with the greatest strength in multiple unit buildings.Permitting rose 7.4 percent to an annual pace of 1,343,000 units, the gain also most marked in buildings with five or more units.For the first six months of the ...

Obama sells Iran deal WASHINGTON: US President Barack Obama will hold a press conference Wednesday as he tries to convince Americans, allies and skeptical lawmakers about the benefits of a nuclear deal with Iran.Obama will answer questions in the East Room of the White House, spokesman Josh Earnest said Tuesday. The event is scheduled for 1:00 pm local time (1700 GMT).With Congress set to vote on the deal and Republicans already clamoring against it, the White House is aggressively ...

China June industrial output up 6.8pc on-year: govt BEIJING: China's industrial output, which measures production at factories, workshops and mines, rose 6.8 percent year-on-year in June, the National Bureau of Statistics (NBS) said Wednesday.Retail sales, a key indicator of consumer spending in the world's second-largest economy, increased 10.6 percent last month from the year before, the NBS said. Fixed asset investment, a measure of government spending on infrastructure, expanded 11.4 percent in January-June on-year, the NBS added.Copyright AFP (Agence France-Presse), 2015

Iran nuclear deal faces fresh challenges in US VIENNA: Hours after major powers agreed a deal over Iran's nuclear programme, the White House on Wednesday launched a campaign to stop sceptics at home and abroad from derailing the long-awaited accord.The agreement, signed on Tuesday after 18 days of marathon talks in Vienna, aims to ensure Tehran cannot create a nuclear bomb in return for lifting biting sanctions that have crippled Iran's economy. It was hailed by the United States, the European Union, Iran ...

Dutch remember MH17 victims, hunt those responsible THE HAGUE: Dutch flags will fly at half-mast Friday as families remember those killed when flight MH17 was shot down over eastern Ukraine a year ago, with all efforts now focused on catching those responsible.Around 2,000 grieving relatives are expected at a private ceremony in the central Netherlands, with Prime Minister Mark Rutte and other top officials slated to attend, organisers said. But as relatives of those who died in the Malaysia Airlines tragedy on ...


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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln