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Former German foreign minister to face plagiarism charge BERLIN: Germany's former foreign minister and senior Social Democrat Frank-Walter Steinmeier has become the latest German politician to face allegations of academic plagiarism, an act which brought down two of Angela Merkel's ministers.Weekly magazine Focus cited university professor Uwe Kamenz as saying that he had found 500 areas of suspicious "similarities" when comparing Steinmeier's doctoral thesis in law in 1991 with some 100 sources.Steinmeier, who heads the Social Democrats' (SPD) parliamentary group and will be one of six party leaders to head talks with Merkel's conservatives over a possible grand coalition, described the allegations as absurd, according to the magazine.He said would be open to a review of the thesis by his former university. Neither Kamenz nor Steinmeier could be contacted immediately by Reuters.Merkel ally Annette Schavan resigned in February from her post as education minister, after being stripped of her doctorate by Duesseldorf University, which ruled she had "systematically ...

Berlusconi pushes Italy to the edge, again LONDON: Silvio Berlusconi is pushing Italy close the edge, again. The cavaliere's decision to pull his party's ministers from Italy's coalitiongovernment could spook markets, trigger chaotic elections, delay reforms and hurt the country's fragile recovery. The only potential silver lining: it could also trigger the renewal of Italy's politics.Silvio Berlusconi's decision to withdraw his People of Freedom (PDL) party's five cabinet ministers from the shaky left-right coalition is the second time in a year he ...
Portuguese seen lodging protest over bailout pain LISBON: Portuguese voters were expected to punish the ruling centre-right Social Democrat candidates in local polls on Sunday after years of budget cuts and tax hikes under the country's international bailout.A record number of mayoral candidates were standing as independents in the first local election since Portugal turned to the International Monetary Fund and European Union for the 78 billion euro ($106 billion) bailout in 2011.After two and a half years of recession, unemployment is ...
Troika announces pause in aid discussions with Greece WASHINGTON: Greece's international creditors announced on Sunday a pause in their discussion with Athens over the release of rescue loans.Teams from the International Monetary Fund, European Union and European Central Bank have been in the Greek capital since September 17 for a fresh audit of the country's finances.The "troika" of donors said in a statement that the break would "allow completion of technical work" and that "the government's economic program has made good progress."Discussions, they ...
Italian government breaks up after Berlusconi pulls out ministers ROME: Italian centre-right leader Silvio Berlusconi pulled his ministers out of the cabinet on Saturday, effectively bringing down the government of Prime Minister Enrico Letta and leaving the euro-zone's third-largest economy in chaos.Talks will now start to find a parliamentary majority to back a new cabinet and avoid going back to an election just seven months after the last one.The relentless political jockeying that has defined Letta's five-month tenure has already thwarted efforts to push ...
UK's Cameron speeds up launch of controversial housing plan LONDON: Britain's prime minister launched a critical week for his party's run-up to the 2015 elections by unexpectedly bringing forward the launch of a mortgage guarantee programme that critics say risks stoking a housing bubble.Conservative leader David Cameron said on Saturday that the plan would be up and running next week, three months earlier than previously planned.The "Help to Buy" plan is aimed at people who have been frozen out of the property market by ...
Italian PM Letta to seek parliamentary backing: source ROME: Italian Prime Minister Enrico Letta will seek to verify the level of support he commands in parliament next week, following the resignation of centre-right ministers from his government, but he may not call a full confidence vote, a government source said on Saturday.President Giorgio Napolitano, who would have to decide whether to call new elections or try to oversee the formation of a new government, said in a statement he had been informed by ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln