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Fabius says time to warm up Iran-France relations TEHRAN: French Foreign Minister Laurent Fabius arrived on Wednesday in Iran and said it was time to kickstart relations between the two countries after a nuclear deal made such a change possible."It's an important trip," Fabius told reporters at the French embassy in Tehran as he started a short but much-heralded visit following the historic July 14 accord between Iran and six world powers.As France's chief diplomat in those negotiations, Fabius gained a reputation for taking a hawkish public stance on what Iran must do under a nuclear deal.He has also come under criticism from Iranian media, earning the nickname "the obstacle" in the ultimately successful talks.Acknowledging much had to be done to improve the relationship between Tehran and Paris however, Fabius said both nations stood to benefit from the recent diplomacy."We are two great, independent countries, two great civilizations. It is true that in recent years, for reasons that ...

Syria safe zone will help 1.7mn refugees return: Erdogan ANKARA: Turkish President Recep Tayyip Erdogan on Tuesday said the formation of a safe zone inside war-torn Syria, free from the Islamic State group, would help the return of 1.7 million refugees."The clearance of those regions and the creation of a safe zone there will lay the ground for 1.7 citizens here to return home," Erdogan told reporters at an airport in Ankara.Copyright AFP (Agence France-Presse), 2015 ...
Hollande to decide on Russia warship deal 'in weeks' PARIS: French President Francois Hollande said on Monday that he would decide "in the coming weeks" whether or not to scrap a contentious contract to supply two warships to Russia.The fate of the two Mistral helicopter carriers has plagued France-Russia ties for more than a year, following the decision by Paris to put the 1.2-billion-euro ($1.3-billion) deal on ice as the West slapped sanctions on Moscow over its annexation of Crimea and alleged backing for ...
Britain's Osborne pushes EU reform in Paris PARIS: Britain's finance minister was Monday to push the case for European Union reform as he kicked off a European roadshow with a trip to Paris amid reports London could hold its referendum on EU membership next year.George Osborne will meet counterpart Michel Sapin, but also Prime Minister Manuel Valls and Foreign Minister Laurent Fabius as Britain tries to drum up support for a reformed European bloc still reeling from the Greece crisis.Britain wants to ...
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 ...
Turkey detains more suspected IS, PKK militants: reports ISTANBUL: Turkish security forces on Saturday launched new dawn raids to arrest suspected members of the Islamic State (IS) group and Kurdish militant Kurdistan Workers Party (PKK), reports said.The new raids took place in several Turkish provinces, including Istanbul, Ankara, Konya in central Turkey and Manisa in the west, the Radikal online newspaper said. Many people were arrested, although precise figures were not immediately available.Turkish police had on Friday launched major raids against suspected IS ...
Greece creditors due in Athens 'in coming days': EU BRUSSELS: Representatives from Greece's international creditors are due in Athens in the coming days, the European Commission said, with sources saying logistical issues had pushed back an expected arrival date of Friday.The officials from the European Commission, European Central Bank and International Monetary Fund are due in Athens after Prime Minister Alexis Tsipras agreed to start talks on a new bailout for Greece."The institutions are expected in the coming days," a spokeswoman for the Commission ...


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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