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Romania PM says some postponed tax cuts may be brought forward BUCHAREST: Romania may bring forward some tax cuts that have been postponed until 2017 based on economic performance, leftist Prime Minister Victor Ponta said on Thursday. Earlier in the day, lawmakers approved a plan to cut value added tax by 4 percentage points to 20 percent from 2016. They postponed a further VAT cut as well as lowering levies on dividends and fuel and scrapping a tax on special buildings until 2017. "I am very optimistic those measures that have been postponed, not all at once, can be brought forward," Ponta told reporters. "My message for the business world is that by the end of my term these measures can be enforced."Copyright Reuters, 2015 ...

EU's Tusk warns of east-west divide on migrant crisis BRUSSELS: EU President Donald Tusk warned Thursday that divisions between western member states and their newer eastern partners were complicating efforts to solve the deepening migrant crisis."There is a divide ... between the east and the west of the EU. Some member states are thinking about containing the wave of migration, symbolised by the Hungarian (border) fence," Tusk said."Others want solidarity in advocating a so-called obligatory basis for quotas. The key challenge is to find ...
Eight dead in apartment fire in north Paris PARIS: A fire in an apartment building in the north of Paris early on Wednesday morning has killed eight people, including two children, according to police sources.The fire in the eighteenth arrondissement, the cause of which is unknown, broke out at around 4:30 am (0230 GMT) and took more than 100 firefighters to contain it. The eight victims included two who died after they attempted to escape through windows, according to police. A source close ...
Irish unemployment steady at 9.5pc at end-August DUBLIN: Ireland's unemployment rate was stable at 9.5 percent at the end of August, data from the central statistics office showed on Tuesday. Employment has grown strongly in Ireland since the jobless rate hit a high of 15.1 percent in early 2012 and revised data last week showed the rate fell to 9.5 percent in June after provisional figures suggested it had stalled at a higher level. Copyright Reuters, 2015 ...
Russian finance ministry supports limiting budget plan to one year MOSCOW: Russia's Finance Ministry supports a proposal to limit budgetary planning to one year, as opposed to the present three-year planning, Finance Minister Anton Siluanov said on Tuesday. "In order to minimise the likelihood of mistakes in preparing the budget, we are proposing to take a pause for a more detailed evaluation of the developing situation," he said, citing volatile conditions on global commodity and financial markets. "We also support an initiative to retreat from ...
Portugal July unemployment falls to 12.1pc LISBON: Portugal's unemployment rate fell to 12.1 percent in July from 12.3 percent in June, data from the National Statistics Institute (INE) showed on Monday. The unemployment level in June was revised lower from 12.4 percent. In July 2014 unemployment stood at 14.1 percent. According to the monthly unemployment data introduced by INE last year, the youth unemployment rate of those aged 15 to 24 fell to 31.0 percent from 31.6 percent. The total number ...
Britain announces investment in Scottish naval base LONDON: Scotland's Faslane naval base is to receive £500 million ($770 million, 688 million euros) in investment over 10 years, the British government announced on Sunday.The site of Britain's Trident submarine nuclear deterrent, Faslane is to receive investment in ship lifts, sea walls, jetties and other projects from 2017, with jobs at the base increasing to 8,200 by 2022 from 6,700, according to a statement."Today's announcement of more than £500 million demonstrates the UK government's ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln