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Volcano forces fresh shutdown of Bali airport DENPASAR: Ash spewing from a volcano closed the airport on the Indonesian resort island of Bali Wednesday for the third time this month, forcing the cancellation of flights and stranding tourists during peak holiday season.Mount Raung on Indonesia's main island of Java, which has been rumbling for weeks, sent an ash cloud floating over Bali that closed the island's Ngurah Rai airport, the transport ministry said. Two small airports on Java serving domestic routes were also shut down, it added."Due to volcanic ash from Mount Raung, the Ngurah Rai airport is temporarily closed again from midday (0500 GMT)," ministry spokesman J. A. Barata told AFP. "We don't know when it will reopen, we will monitor the situation."Volcanic ash from Raung had already closed Bali's international airport two times this month, between July 9 and 12, forcing almost 900 flights to be cancelled or delayed and creating a backlog that took ...


Interest rate cuts 'on table' as inflation stays soft SYDNEY: Further interest rates cuts remain "on the table", Australia's central bank chief said Wednesday, as new official data showed that Australian consumer prices rose 0.7 percent in the three months to June, keeping annual inflation subdued.Reserve Bank of Australia governor Glenn Stevens said weak economic growth had seen the cash rate decline to "very low levels"."The question of whether they might be reduced further remains, as I have said before, on the table," Stevens ...

Eurotunnel seeks 9.7mn euros after migrant disruption PARIS: The company that runs the cross-Channel rail tunnel said Wednesday it was seeking 9.7 million euros ($10.67 million) from the British and French governments in compensation for disruption caused by illegal migrants.In a scheduled financial statement, Eurotunnel said first-half profits were 39 million euros, after an 11-million-euro loss over the same period in 2014 inflicted by its troubled MyFerryLink unit.Eurotunnel said it was seeking the compensation after it incurred a security bill of 13 ...

Maldives sacks vice-president for 'treason' COLOMBO: The Maldives parliament has sacked the country's vice-president and accused him of treason, as international concern mounts over the state of democracy on the honeymoon islands.Lawmakers voted overwhelmingly on Tuesday evening to oust Mohamed Jameel, who was the running mate of President Abdulla Yameen in a controversial 2013 election but has now fallen out with him.The 45-year-old, who was abroad at the time of the vote, was also accused of colluding with the opposition, ...

Singapore freezes accounts linked to probe of Malaysia's 1MDB SINGAPORE: Singapore police on Wednesday confirmed they had frozen two bank accounts as part of an investigation into possible money-laundering offences related to troubled Malaysian state investment firm 1MDB.The company is under investigation by Malaysian authorities following reports of irregularities including fund transfers allegedly involving Prime Minister Najib Razak, who has strongly denied any wrongdoing."We understand that the Malaysian authorities have launched investigations into certain matters related to 1MDB," the Singapore Police Force (SPF), which ...

Nigeria to export 348,000 bpd of Qua Iboe crude oil in Sept LONDON: Nigeria will export 348,000 barrels per day of Qua Iboe crude oil in September, lower than the 368,000 bpd initially planned for August, according to a provisional loading programme. The exports will come in 11 cargoes, compared with the 12 planned for August. Qua Iboe has been in high demand over the past month, largely due to buying by Indian refiners. Copyright Reuters, 2015

China's FDI up 8.pc in January-June on M&A: govt BEIJING: Foreign investment into China rose 8.0 percent in the first half of this year as mergers and acquisitions by overseas companies more than quadrupled in value, the commerce ministry said Tuesday. Foreign direct investment (FDI), which excludes financial sectors, totalled $68.41 billion in January-June , the ministry said. "Both the proportion and the transaction value of foreign mergers and acquisitions increased sharply," it said in a statement. It gave the value of M&A activity ...


 



 
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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