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Maduro inauguaral speech disrupted by youth CARACAS: Venezuela's new President Nicolas Maduro was roughly pushed aside Friday by a youth in a red shirt who ran on stage during his inaugural address in the National Assembly and grabbed the microphone.The incident caused momentary confusion as national television coverage of the event briefly went off the air, returning after Maduro had regained his composure and the youth had been moved off stage."Incident overcome," said Maduro, saying he would speak to the man after the address and then continuing with his speech.<Center><b><i>Copyright AFP (Agence France-Presse), 2013</b></i></center> ...

Italy presidential vote ends in rebellion ROME: Italy's centre-left suffered a bitter blow on Friday after its candidate for president, former premier Romano Prodi, came nowhere near securing the necessary votes in a secret parliamentary vote which ended in a fierce rebellion among the bickering parties.The former European Commission chief, a nemesis of right-wing leader Silvio Berlusconi, had been the front-runner for the job, backed officially by the centre-left. But the right refused point-blank to support him -- and then over ...
German police destroy explosive mailed to president BERLIN: A German police bomb squad Friday destroyed a letter containing an explosive substance that was sent to the Berlin residence of President Joachim Gauck, his office and security sources said.Gauck, whose post as head of state is largely ceremonial, was not at the Bellevue Palace residence at the time, and no staff were endangered, an office spokeswoman said.The suspect letter was discovered in routine mail screening and destroyed in a controlled explosion in a ...
Expectations of Spain needing EU bailout slide: POLL LONDON: Spain's success in raising funds from the market in the last few weeks has led to far fewer economists expecting it to need a sovereign bailout, a Reuters poll showed on Friday.Only seven of 49 respondents said Spain would need help, down sharply from the 16 out of 48 who said it would in a March 27 poll.Slovenia, however, is expected to have to turn to the European Union and International Monetary Fund. Twenty-six ...
German court to hear case against ESM, ECB bond buying in June BERLIN: Germany's Constitutional Court said on Friday it would hold a public hearing on complaints against the euro zone's bailout fund, the European Stability Mechanism (ESM), and the European Central Bank's bond-buying programme on June 11 and 12. The complaints, seven in total, reflect German unease about the mounting costs of dealing with the three-year debt crisis and fears that the ECB bond-buying programme may violate the taboo against direct central bank financing of state ...
Germany, IMF used atomic bomb to shoot pigeon NICOSIA: One of Cyprus's most senior civil servants has likened his country's treatment by Germany and the IMF to the shooting of a pigeon with an atomic bomb, saying they had destroyed an economic system that worked. Christos Patsalides, permanent secretary of Cyprus's Ministry of Finance, also described the international lenders as "forces of occupation" that cared nothing for human rights. Patsalides took part in the recent bailout negotiations between Cyprus and the European Union ...
Italy centre left backs Prodi for president ROME: Italy's main centre-left party chose former Prime Minister Romano Prodi as its presidential candidate on Friday, setting up a battle with Silvio Berlusconi's centre-right that raises the chance of a snap election in the summer. Berlusconi's camp immediately rejected Prodi, one of the media billionaire's oldest enemies, saying his election was likely to prevent any government being formed and lead to new polls, possibly as soon as late June or early July. The vote ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln