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China to provide 149.4bn yuan in housing regeneration subsidies in 2015 BEIJING: China will provide 149.4 billion yuan ($24.1 billion) in subsidies for renovating dilapidated urban houses in 2015, Vice Minister of Housing and Urban-rural Development Wang Ning said on Friday.China will step up "effective investment" in key sectors, including shantytown renovation and rural power infrastructure, to support growth, the cabinet said earlier this week.The government will implement a three-year plan to renovate 18 million dilapidated urban houses and 10.6 million dilapidated rural houses.Wang told a news conference that 5.8 million urban houses will be renovated this year. "The central government has arranged 149.4 billion yuan in subsidies this year," he said.Copyright Reuters, 2015

Athens working to make eurozone crisis summit a 'success': govt ATHENS: Greece is working to make a emergency eurozone summit on Monday a "success," the government said, as time runs out for Athens and its creditors to reach a deal on its international bailout and avoid default."We hope that the final negotiations take place at Europe's highest political level and we are working toward the success of this summit," Prime Minister Alexis Tsipras's office said in a statement on Friday.EU President Donald Tusk called an ...

Palestinians to submit first file to ICC next week JERUSALEM: The Palestinians will next week submit their first file to the International Criminal Court in their bid to open criminal proceedings against Israel, an official said on Thursday.The move is part of an increased focus on diplomatic manoeuvring and appeals to international bodies by the Palestinians, who have been frustrated by a lack of progress in ending the Israeli occupation and creating their own independent state. The file is to be handed to ICC ...

US jobless claims fall WASHINGTON: New claims for US unemployment benefits fell last week, the government said Thursday in a report adding further evidence of a tightening labor market.Initial jobless claims dropped by 12,000 to 267,000 in the week ending June 13, the Labor Department said. The prior week's level was unrevised.The reading was better than analysts expected, with an average estimate pegged at 276,000.The four-week moving average totaled 276,750, a decline of 2,000 from the previous week. A ...

Next step has to come from Greece: Eurogroup's Dijsselbloem LUXEMBOURG: Greece must make the next move towards reaching a debt deal with its EU-IMF creditors but there is little chance of an agreement at a meeting of eurozone finance ministers Thursday, Eurogroup chief Jeroen Dijsselbloem said."Now the next step to make the deal credible, also financially sustainable, will have to come from the Greek side," Dijsselbloem, the Dutch finance minister, told reporters as he arrived for the talks in Luxembourg. "Too little progress has ...

China May FDI rises 7.8pc BEIJING: China's foreign direct investment in May increased 7.8 percent to 57.4 billion yuan ($9.25 billion) from a year earlier, the commerce ministry said on Thursday. The ministry did not provide a growth figure in dollar tems.In the first five months of the year, FDI grew 10.5 percent from a year earlier to 331.0 billion yuan.Non-financial outbound direct investment increased 47.4 percent to 278.4 billion yuan over the same period.Copyright Reuters, 2015

South Korean parliament confirms nomination of new PM SEOUL: South Korea's parliament endorsed the appointment of Hwang Kyo-Ahn as prime minister Thursday, whose immediate priority will be to tackle a MERS outbreak which has claimed 23 lives.The move came a month after Hwang, a 58-year-old former justice minister, was selected by President Park Geun-Hye to become the prime minister, a post that has become something of a poisoned chalice under her administration.Initially opposition lawmakers refused to vote but changed their stance overnight following ...


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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln