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EU budget talks drag on past deadline BRUSSELS: Cost-conscious EU governments and a more generous-minded European Parliament failed to reach an eleventh hour agreement for the bloc's 2015 budget late Monday, forcing officials to draw up a new proposal."No deal on EU budget, EU Commission to present new draft budget 2015," a spokeswoman for the European Parliament's budget committee said in a tweet.EU member states and the European Parliament have been locked in marathon talks to agree a budget of about 140 billion euros ($173 billion) for 2015.They are also in need to agree outstanding payments for 2014 -- and even years before that -- with opinions far apart on what needs to be paid urgently."We must have a concrete response to the unbearable problem of unpaid invoices accumulating on the desks of the Commission," said liberal European MP and negotiator Jean Arthuis.Haggling over unpaid bills "puts into danger the credibility of the EU authority and feeds ...

Greek police hurt in clashes with Athens protestors ATHENS: Five policeman were injured in clashes with protestors in Athens as 18,000 took to the streets to mark the anniversary of a deadly student uprising that sparked Greece's return to democracy in the 1970s.Seven protestors were arrested as the demonstrations turned violent in the Exarchia district of central Athens.The 7,000-strong police contingent used tear gas and stun grenades to disperse a crowd burning American and European Union flags in front of the US embassy.There ...
EU poised for fresh Russia sanctions over Ukraine BRUSSELS: European Union foreign ministers will discuss Monday hitting Russia with fresh sanctions over the Ukraine crisis, but they must keep the door open to Moscow, new foreign affairs chief Federica Mogherini said.The ministers met in Brussels against a backdrop of fresh fighting in eastern Ukraine despite a September ceasefire between Kiev and pro-Moscow rebels, who also angered the west by holding elections on November 2."We will for sure discuss sanctions," said Mogherini as she ...
Turkish July-Sept unemployment rate rises to 10.1pc ISTANBUL: Turkey's unemployment rate rose to 10.1 percent in the three months from July to September, the Turkish Statistics Institute said on Monday, compared with a previously announced 9.8 percent between June and August. The non-farm unemployment rate, also measured on a three-month average, was 12.3 percent during July-Septembe.Copyright Reuters, 2014 ...
Moscow expels Polish diplomats: ministry  MOSCOW: Russia has expelled a number of Polish diplomats accusing them of activities "incompatible with their status" in response to expulsions of Russian diplomats by Warsaw, the foreign ministry said on Monday."The Polish authorities indeed took such an unfriendly and absolutely groundless step. The Russian side took appropriate measures and a number of Polish diplomats have already left the territory of our country for activities incompatible with their status," the ministry said in a statement, ...
Prince William recruits Angry Birds to protect wildlife LONDON: Prince William teamed up with the makers of Angry Birds to release a new game on Monday that will highlight the dangers of illegal poaching for animal species from elephants to anteaters.The British royal warned about the "illegal slaughter or tens of thousands of animals" and said the trade in animal parts was helping to fund criminal gangs and even extremist groups."These species are being pushed to the brink of extinction due to poaching. ...
EU foreign ministers tackle Ukraine crisis BRUSSELS: EU foreign ministers are under pressure Monday to hit Russia with fresh Ukraine sanctions after a fraught G20 summit and at the same time, get a battered peace plan back on track.Western leaders in Brisbane at the weekend slammed President Vladimir Putin for Russia's "unacceptable" intervention in Ukraine and said Moscow faced more punishment as a result. The West would keep up the pressure for years if necessary, to get Russia to reverse course, ...


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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