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Berlusconi tax fraud trial adjourned MILAN: An Italian court agreed on Saturday to Silvio Berlusconi's request to adjourn his appeal against a tax fraud conviction for one month, as Italy's politicians seek to end a political crisis and form a government. The former prime minister was re-elected to parliament in an inconclusive vote last month and Italy's president has asked his centre-left rival, Pier Luigi Bersani, to see if he can form a government. Judge Alessandra Galli adjourned to April 20 the trial in which Berlusconi is appealing a four-year jail sentence for tax fraud connected to the sale of broadcasting rights for his Mediaset group. As leader of the second-biggest formation in the deadlocked parliament, Berlusconi is potentially a key figure in resolving the political impasse, but he is contesting several legal cases as he fights for his political life. Berlusconi's People of Freedom (PDL) party is holding a demonstration in Rome later on ...

Cyprus bailout talks NICOSIA: Cyprus Finance Minister Michalis Sarris reported "significant progress" in talks on Saturday with EU-led creditors, but said there were also some unresolved issues that still had to be addressed.The authorities on the island, a eurozone member, are scrambling to raise 5.8 billion euros ($7.5 billion) this weekend in order to unlock a 10-billion-euro bailout from a troika of lenders."Significant progress has been made towards achieving an agreement with the troika," Sarris said after talks ...
Cyprus bailout bid goes down to the wire NICOSIA: Cyprus's bid to avert financial collapse will go down to the wire after the island said it would hold a crucial sitting of parliament only after finance ministers of the 17-nation euro zone meet on Sunday. Cyprus faces a Monday deadline to clinch a 10 billion euro ($13 billion) bailout from the European Union or the European Central Bank sauys it will cut off emergency funding to the country's stricken banks, spelling certain collapse ...
Xi hails China, Russia relations as guarantee of peace MOSCOW: China's new leader Xi Jinping on Saturday hailed strong relations between Russia and China as a guarantee of world peace, as he continued his first foreign trip as president with a speech to students in Moscow."Strong Chinese-Russian relations at a high level not only answer our own interests, but serve as an important, reliable guarantee of international strategic balance and peace," he said during a televised speech in comments that were translated into Russian.He ...
Spain ruling party moneyman refuses graft testimony MADRID: A former treasurer of Spain's ruling Popular Party refused to answer questions Friday from a judge investigating allegations that he made under-the-table payments to top party officials, including Prime Minister Mariano Rajoy. The allegations of undisclosed payments within the Popular Party have rocked Rajoy's government as it tries to steer Spain out of a deep recession. The National Court, Spain's highest criminal tribunal, has been investigating the 55-year-old Luis Barcenas since the leading El ...
Sarkozy lawyer says L PARIS: Former French President Nicolas Sarkozy came out fighting on Friday after he was placed under investigation for exploiting the mental frailty of the country's richest woman to raise election funds, with his lawyer rejecting the case as flawed.A Bordeaux magistrate launched an inquiry on Thursday into whether Sarkozy took advantage of 90-year-old L'Oreal heiress Liliane Bettencourt, after she was declared in a state of dementia, to help raise money for his 2007 election campaign.The ...
Serbia plans to borrow 13bn dinars next week BELGRADE: Serbia plans to sell a total of 13 billion dinars ($150 million) of debt on the domestic market next week, the finance ministry's Debt Agency said on Friday, to help finance its budget deficit. Serbia, a European Union membership candidate, must borrow at home and abroad to plug a budget gap seen at 3.6 percent of gross domestic product (GDP) this year. The Debt Agency announced the sale of 10 billion dinars in 53-week ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln