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Greece looms large over final day of G7 finance meeting DRESDEN: Greece's fate in the euro area continued to cast a shadow over the second and final day of a Group of Seven finance ministers meeting in Dresden Friday with still no sign of a deal in sight.The governor of the Bank of Japan Haruhiko Kuroda -- who is attending the meeting -- warned of the consequences of a possible "Grexit" or Greek exit from the euro. "If for the first time a country leaves the eurozone, then it won't be the same stable monetary union as before," Kuroda told the business daily Handelsblatt. In fact, the euro area would then simply resemble a system of fixed exchange rates and such systems had never proven particularly successful in the past, the central bank chief said. Nevertheless, Kuroda said he did not believe there would be any contagion effects "in the short term if Greece defaults or even leaves monetary union."That ...

WHO warns that Ebola crisis isn't over PARIS: The World Health Organization (WHO) on Thursday warned against complacency about the deadly Ebola virus, saying that the crisis isn't over."We have to keep our guard up," Sylvie Briand, head of epidemiology at the UN's health agency, told a stock-taking meeting on Ebola in Paris. Briand said the situation in Guinea, one of the three West African states where Ebola has killed more than 11,000 people, left her "deeply concerned."Briand warned against hopes that ...
Putin says US trying to block Blatter reelection as FIFA head MOSCOW: Russian President Vladimir Putin slammed the arrests of top FIFA delegates in a US probe as an attempt by Washington to oust Sepp Blatter as head of the organisation."This is clearly an attempt to block the reelection of Blatter as president of FIFA and is an extremely serious breach of the principles of how international organisations work," Putin said in televised comments broadcast Thursday, accusing the United States of trying to "spread its jurisdiction ...
France says Britain EU referendum 'very risky' PARIS: French Foreign Minister Laurent Fabius said a British referendum on whether to leave the EU was "very risky", ahead of a visit by Prime Minister David Cameron to Paris on Thursday.Cameron is carrying out a whistlestop tour of European capitals to push for reforms he says are necessary before the EU referendum, including on immigration."We will listen to him and see what he proposes," said Fabius."He launched this referendum project, it is something very ...
UK's Cameron meets EU leaders on referendum reform push LONDON: Prime Minister David Cameron starts a whirlwind two-day tour of European capitals including Paris and Berlin Thursday in a push to secure EU reforms before a referendum on whether Britain should leave.Cameron will meet the Netherlands' Prime Minister Mark Rutte in the Hague Thursday before having dinner with French President Francois Hollande in Paris.On Friday, Cameron will hold talks with Polish Prime Minister Eva Kopacz in Warsaw before flying to Berlin for a working ...
Bulgaria opens up communist-era military archives SOFIA: Bulgarian Communist-era military intelligence archives will now be open to researchers and journalists, Defence Minister Nikolay Nentchev announced Wednesday. The minister said he had released around 30,000 archived objects to the Civil Commission, which is in charge of examining documents from this period."Bulgaria needs to shed light on the repressive structures of communism," said the minister, adding that the country needs to cut itself loose from the "secrets" and "dependancies" linked to the Communist-era.In ...
Ukraine still facing 'continual attacks' on its territory: NATO KIEV: A top NATO commander warned Wednesday that "continual attacks" against Ukraine were hampering Kiev's efforts to modernise its army enough to one day join the Western military alliance."We are well aware of the formidable challenges that Ukraine is facing," NATO's political affairs and security chief Thrasyvoulos Terry Stamatopoulos told the start of a defence meeting in Kiev."It's not easy to launch wide-ranging reforms while managing a major conflict and deterring continual attacks against your ...


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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 $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln