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German unemployment steady at historic low in June FRANKFURT: German unemployment remained at historically low levels in June as the recovery in Europe's biggest economy stayed on track, data showed on Tuesday. The number of people registered as unemployed in Germany fell by a seasonally-adjusted 1,000 to 2.786 million, the lowest level since December 1991, the Federal Labour Office said. That was slightly fewer than expected, as analysts had been pencilling in a decline of around 5,000. The unemployment rate -- which measures the jobless total against the working population as a whole -- stood at 6.4 percent in June, unchanged from May and the lowest level since west and east Germany reunited in 1990 after the fall of the Berlin Wall the previous year. In raw or unadjusted terms, the jobless total decreased by 50,500 to 2.711 million and the jobless rate fell to 6.2 percent in June from 6.3 percent in May, the labour office said.Growth ...

EU roaming charges to be abolished in 2017 BRUSSELS: The European Union said Tuesday it had struck a deal to abolish mobile phone roaming charges in 2017, ending fees that are loathed by millions of holidaymakers and business travellers across Europe.The agreement will end the frustration of EU citizens on holiday or abroad for business who face steep charges for using their phones for calls and Internet browsing when in the bloc but outside their home country.Coming into force on June 15, 2017, ...
EU's Juncker proposed 'last-minute' solution to Greece's Tsipras BRUSSELS: European Commission chief Jean-Claude Juncker set out a possible "last-minute" solution to Greek Prime Minister Alexis Tsipras to reach a debt deal before a referendum, a Commission source said Tuesday."Having been in contact with PM Tsipras yesterday, the President explained how a last-minute deal could look like," the source told AFP, adding that it would involve accepting reform proposals from the weekend and backing a "yes" vote.Copyright AFP (Agence France-Presse), 2015 ...
Eurozone in panic as Athens teeters on brink of default ATHENS: Greece was teetering on the brink of a default that could see it crash out of the euro hours before a key debt deadline was due to expire on Tuesday, as the country's prime minister warned Athens's coffers were empty.Thousands took to Greece's streets on Monday night to support their government's opposition to the latest debt deal after a clash with the country's creditors forced a shutdown of its banks and brought the country ...
Merkel says ready for new Greece talks 'after referendum'   BERLIN: German Chancellor Angela Merkel said Monday that any new negotiations with Greece on its crippling debt crisis should come after its upcoming referendum on EU bailout proposals."Should the Greek government ask for negotiations, for example after the referendum (next Sunday), we would of course not refuse," she told reporters after meeting with parliamentary and party leaders.Copyright AFP (Agence France-Presse), 2015 ...
Spain confident Greek debt deal can still be reached MADRID: Spanish Economy Minister Luis de Guindos said Monday he expects Greece will be able to reach an agreement with its bailout creditors before Tuesday night when its existing aid programme ends."There is still time, Greece's second programme expires on Tuesday night, which means we still have 48 hours and I think negotiations can still take place," he told public radio RNE."I don't exclude that there could be an agreement between now and this deadline, ...
UK's Cameron sees Greece leaving euro in event of referendum no vote LONDON: British Prime Minister David Cameron said on Monday he thought it would be hard for Greece to stay in the single currency if Greeks voted to reject a deal from international creditors in a forthcoming referendum. "If they vote no I find it hard to see how that is consistent with staying in the euro because there would be, I think, a very significant problem. But it's for the Greek people to decide," Cameron ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln