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Erdogan in surprise meeting with Turkey opposition figure   ANKARA: President Recep Tayyip Erdogan on Wednesday held a surprise meeting with a senior figure from the opposition Republican People's Party (CHP), as Turkey's political forces weigh up coalition options after legislative elections.The ruling Justice and Development Party (AKP) lost its overall majority in Sunday's polls, in what was seen as a major blow for Erdogan and the Islamic-rooted AKP which has ruled Turkey for the last 13 years.The result has plunged Turkey into a period of political uncertainty unprecedented since the AKP came to power, with the country facing either a coalition government or early elections.Erdogan, who has yet to speak in public about the results, held two hours of unannounced talks in Ankara with Deniz Baykal who was CHP leader until 2010 and retained his seat.The meeting came amid speculation that one way out of Turkey's political impasse could be a "grand coalition" between the CHP and AKP.Speaking ...

France's Hollande says Greece, EU 'must move fast'    BRUSSELS: French President Francois Hollande on Wednesday urged Greece and its EU-IMF creditors to move fast to secure a long delayed deal to unlock urgently needed bailout cash by the end of the month."We will only have one message: we must now move quickly, we must not relent, we must not allow solutions that would be bad for Greece, for the European Union and for the eurozone," Hollande said as he arrived for an EU-Latin ...
Britain wants law to guarantee budget surplus LONDON: Britain's finance minister George Osborne will use next month's post-election budget to push ahead with new laws to force governments to run a surplus.Chancellor of the Exchequer Osborne will present a budget on July 8 to implement his centre-right Conservative Party's campaign promises of spending cuts after a surprise election win in May."In normal times, governments of the left as well as the right should run a budget surplus to bear down on debt ...
Airbus says A400M to fly at Paris airshow PARIS: Airbus said on Wednesday its A400M would take part in the flying display at the Paris airshow next week, just over a month after one of the planes fatally crashed in Spain after a massive engine failure."We have complete confidence in the A400M and we are delighted to fly our demo as planned. We want to share our pride in the aircraft with all the passionate aviators at Le Bourget," said head of military ...
EU to push migrants decision back to September: sources BRUSSELS: EU members are unlikely to agree on a programme to accommodate 40,000 asylum seekers this month, meaning a decision is not expected before September, European sources said Tuesday.The European Commission proposed the scheme last month to ease the burden on Italy and Greece, which are battling to cope with unprecedented numbers of migrants fleeing conflict and hardship across the Mediterranean to Europe.Interior ministers are set to meet next week and the migration issue will ...
Romania MPs reject lifting PM's immunity for graft probe BUCHAREST: Romania's parliament voted Tuesday against stripping Prime Minister Victor Ponta of his immunity, as called for by anti-graft prosecutors who want to proceed with a corruption case against him.The result of 231 votes against and 120 in favour of waiving his immunity was unsurprising given the large majority of Ponta's centre-left coalition in power.Anti-graft investigators are targeting Ponta's activities from 2007-2011 when he was working as a lawyer and a lawmaker, and also suspect ...
No Greek deal would be beginning of the end for eurozone: Tsipras ROME: The Greek Prime Minister said failure to reach a deal to rescue Greece from a looming default would be the "beginning of the end" for the eurozone, an Italian daily reported Tuesday.Asked by the newspaper Corriere della Sera if a failure to agree on the rescue deal, meaning that Greece would soon likely default on its debts, would also be a failure for Europe, Alexis Tsipras said: "I think that is evident. It would ...


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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln