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Ukraine makes crunch bond payment, staving off default KIEV: Ukraine on Friday made a crucial Eurobond interest payment that kept the war-torn country from slipping into technical default and potential isolation from global credit markets.Two sources close to the situation told AFP that money to cover the $120 million (110 million euro) coupon was transferred as soon as business hours opened in Kiev.The $2.6 billion note matures in July 2017.The cash-strapped former Soviet nation now has two more months to negotiate a debt restructuring deal before it faces a tougher deadline to pay more than $500 million on another Eurobond.Franklin Templeton and three other US financial titans own about two-thirds of the debt upon which Ukraine is trying to find savings of $15.3 billion (13.7 billion euros) over the coming four years.That target is part of a $40 billion global package the International Monetary Fund patched up to help Ukraine weather an economic implosion that was exasperated by ...

Turkey PM vows to pursue operations against IS, PKK ISTANBUL: Prime Minister Ahmet Davutoglu vowed Friday Turkey would continue operations against Islamic State (IS) militants and Kurdish militants after it bombed IS targets in Syria and made nearly 300 arrests. "The operations that were started today are not a single event but a process," Davutoglu told reporters in Ankara in televised comments.Davutoglu said 297 people, including 37 foreigners, had been arrested in nationwide raids against suspected members of IS, Kurdistan Workers Party (PKK) and ...
Greece to vote on second bailout bill in test for Tsipras ATHENS: Greek lawmakers are on Wednesday set to vote on a second batch of reforms that must pass if Athens is to receive its third huge international bailout, in a key test of Prime Minister Alexis Tsipras' authority.The embattled premier suffered a major parliamentary rebellion on the cash-for-reforms deal last week, with a fifth of the lawmakers from his radical-left Syriza party voting against sweeping changes to Greece's taxes, pensions and labour rules. He was ...
Eurotunnel seeks 9.7mn euros after migrant disruption PARIS: The company that runs the cross-Channel rail tunnel said Wednesday it was seeking 9.7 million euros ($10.67 million) from the British and French governments in compensation for disruption caused by illegal migrants.In a scheduled financial statement, Eurotunnel said first-half profits were 39 million euros, after an 11-million-euro loss over the same period in 2014 inflicted by its troubled MyFerryLink unit.Eurotunnel said it was seeking the compensation after it incurred a security bill of 13 ...
Dutch remember MH17 victims, hunt those responsible THE HAGUE: Dutch flags will fly at half-mast Friday as families remember those killed when flight MH17 was shot down over eastern Ukraine a year ago, with all efforts now focused on catching those responsible.Around 2,000 grieving relatives are expected at a private ceremony in the central Netherlands, with Prime Minister Mark Rutte and other top officials slated to attend, organisers said. But as relatives of those who died in the Malaysia Airlines tragedy on ...
Turkey FinMin: Iran deal 'great news' for Turkish economy ISTANBUL: Iran's nuclear deal is "great news" for the Turkish economy as it is likely to boost bilateral trade, Turkish Finance Minister Mehmet Simsek said on Tuesday. "Iran nuclear deal is a great news for the Turkish economy," he wrote in English on his official Twitter account. "It's likely to boost trade and investments between the two countries."Copyright Reuters, 2015 ...
Britain to force companies to publish gender pay gap LONDON: British Prime Minister David Cameron announced plans on Tuesday to force large companies to publish the difference in earnings between male and female staff in a bid to ensure equal pay.Currently, woman on average are paid roughly 20 percent less than men in Britain, a discrepancy that Cameron vowed to end "in a generation"."Today I'm announcing a really big move: we will make every single company with 250 employees or more publish the gap ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln