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Russia says not involved in recent Ukraine escalation BRISBANE: Russia was not involved in the recent escalation of military activity in south-eastern Ukraine and supported the implementation of the ceasefire agreed in Minsk in September, a Kremlin spokesman said on Saturday."We are not involved," Kremlin foreign policy aide Yuri Ushakov told reporters at a G20 meeting in Australia. Russia had met with other BRIC leaders on Saturday, who had all offered their support over the matter, he said."They all said that the sanctions are illegal, that they breach UN charter (rules) and hamper economic recovery. We were not raising this issue ourselves. These leaders said this by themselves without a hint from our side."Copyright Reuters, 2014 ...

Merkel heads for pub in Brisbane BRISBANE: Most of the world's powerhouse leaders arriving in Brisbane for the G20 summit headed in motorcades to relax at their luxury hotels, but not Angela Merkel who opted for the pub.The German Chancellor -- leader of one of the world's biggest beer-producing nations -- was determined to see some of the Queensland capital before high-powered weekend talks on issues such as economic growth and tax evasion.After jetting in mid-evening on Friday, she made an ...
'Cold War' fears over Ukraine overblown, say experts PARIS: Secret "Russian subs" off Sweden, tit-for-tat sanctions, NATO fighters scrambling to intercept Russian warplanes: relations between the West and Moscow over Ukraine have sparked incidents reminiscent of the Cold War that terrified the world for decades. Even Cold War doyen Mikhail Gorbachev used the highly symbolic 25th anniversary of the fall of the Berlin Wall to warn the world was "on the brink of a new Cold War", adding that "some are even saying ...
Big cat on prowl near Paris 'not tiger' PARIS: French authorities searching for a mysterious big cat spotted prowling around a town on the outskirts of Paris revealed Friday it was unlikely to be a tiger as initially suspected.After examining tracks, experts from the national hunting and wildlife office and a nearby big cat park said: "We can exclude the presence of an animal from the tiger species."They added though that "the feline is still being hunted".The appearance of the furtive animal had ...
Bulgarian jobless rate edges up to 10.7pc in October SOFIA: Bulgaria's jobless rate edged up to 10.7 percent in October from 10.5 percent in September mainly due to conclusion of employment programmes sponsored by the government and EU, the state employment agency said on Friday.The number of registered unemployed in the Black Sea state of 7.3 million people increased by 6,060 to 351,445 from a month earlier, the agency said.The agency, which calculates the jobless rate based on the number of officially registered unemployed, ...
Former Bertelsmann chief jailed for tax evasion FRANKFURT: Thomas Middelhoff, former chief executive of German media giant Bertelsmann and distribution giant Arcandor, was jailed for three years by a court Friday for tax evasion and fraud. The regional court in Essen handed down a slightly shorter sentence than prosecutors had been calling for. The prison term is too hefty to qualify to be suspended. However, Middelhoff, 61, can appeal the sentence. The former CEO was founded guilty on 27 counts of defrauding ...
EU accuses Netherlands on Starbucks tax deal BRUSSELS: European Union regulators on Friday publicly accused the Netherlands with awarding coffee-shop giant Starbucks unfair tax breaks, laying out their case at a time when such practices have fueled an uproar.The EU's allegation that a sweetheart tax arrangement with Starbucks amounts to an illegal subsidy by the Netherlands joins similar arguments against Ireland with Apple and Luxembourg with Amazon and Fiat.The case, sent to the Dutch government in June but made public Friday, comes ...


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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