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Tax summit in Berlin aims to say goodbye to banking secrecy BERLIN: The finance ministers of around 50 countries meet in Berlin on Wednesday to sign a deal they hope will put an end to banking secrecy and aid the worldwide fight against tax fraud and evasion."Banking secrecy, in its old form, is obsolete," German Finance Minister Wolfgang Schaeuble said in an interview in the mass-circulation daily Bild on Wednesday. Banking secrecy is "no longer appropriate at a time when people can transfer their money all over the world at the press of a button via the Internet," said Schaeuble, who is hosting the two-day meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in the German capital.The forum, set up under the auspices of the Paris-based Organisation for Economic Cooperation and Development (OECD) and the European Union, brings together representatives of more than 120 countries. The finance ministers are scheduled to sign on Wednesday a ...

Erdogan to unveil Turkey's controversial new presidential palace ANKARA: Turkish President Recep Tayyip Erdogan is on Wednesday set to unveil his new presidential palace on the outskirts of Ankara, denounced by ecologists as an environmental blight and by the opposition as new evidence of his autocratic tendencies.Erdogan will host his first official event at the new palace, a reception marking Turkey's annual republic day which celebrates the foundation of modern Turkey in 1923 out of the ruins of the Ottoman Empire.The complex, located ...
Ukrainians support peace plan: president KIEV: Ukrainians strongly supported efforts to negotiate peace with pro-Russian rebels in Sunday's parliamentary election, President Petro Poroshenko said."A majority of voters came out in favour of those political forces that support the president's peace plan," Poroshenko said after exit polls showed his party leading preliminary results.Copyright AFP (Agence France-Presse), 2014 ...
Sierra Leoneans in Britain answer Ebola 'call of duty' LONDON: Watching with horror as the Ebola crisis ravages their country, Sierra Leoneans in London are mobilising to help their compatriots fight the deadly virus back home.Health workers are taking leave from their jobs in the state-run National Health Service (NHS) to volunteer in Sierra Leone, where at least 1,200 people have died so far.Others are raising funds for medical supplies, protective clothing and even hot meals for those affected -- anything that makes a ...
Italy PM Renzi meets workers from loss-making steel plant FLORENCE: Italian Prime Minister Matteo Renzi on Sunday met workers from German industrial group ThyssenKrupp's Italian stainless steel plant, where 550 jobs are due to be cut.A day earlier an estimated one million people attended a rally in Rome to protest against Renzi's labour reform plans, which aim to make hiring and firing easier.Around 70 workers from the loss-making Acciai Speciali Terni (AST) plant in central Italy demonstrated outside a meeting in Florence where Renzi ...
Ukraine's president visits conflict zone: presidency KIEV: Ukrainian President Petro Poroshenko made a surprise election day visit Sunday to the east of the country where troops are fighting against a pro-Russian insurgency."I arrived in Donbass," Poroshenko said on his official Twitter account, referring to the conflict region. An accompanying photograph showed him dressed in a camouflage uniform and gazing out of the open door of a helicopter.There was no information about where exactly the president stopped in the region, only part ...
Allies of deposed leader struggling in Ukraine vote KRAMATORSK: As he campaigned for Ukraine's parliamentary polls, to be held |Sunday, Nestor Shufrych was pelted with eggs and injured in a scuffle with nationalists.It's not easy for one-time allies of ousted leader Viktor Yanukovych in Ukraine these days. Shufrych, a former minister and ruling party MP, trod a fine line when he spoke to 300 voters at a recent rally in the eastern town of Kramatorsk, taken back by government forces from pro-Russian rebels ...

 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln