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Croatia's forecast-beating second-quarter growth lifts 2015 hopes ZAGREB: Croatia's economy grew 1.2 percent in the second quarter year-on-year, the state statistics bureau said in its flash estimate on Friday, beating expectations and lifting hopes for full-year growth after a long recession. Analysts' forecasts were an average 0.7 percent, compared with first quarter growth of 0.5 percent year-on-year. "This is certainly a positive surprise driven by stronger household consumption and exports. I expect a similar figure in the third quarter, thanks to tourism, so on the annual level we could see growth of close to one percent," Splitska Banka analyst, Zdeslav Santic, said.This year looks set to be the first year of growth after six years of recession shaved some 13 percent off Croatia's overall output but analysts are not convinced that one of the weakest EU economies has laid foundations for higher growth in the future. "Croatia first needs to overhaul its economy and make it competitive ...

German inflation stays ultra low in Aug, state data suggests BERLIN: German consumer prices remained ultra low in August, data from states around the country suggest, putting pressure on the European Central Bank to consider additional stimulus measures as falling oil prices and a slowdown in China curb inflation. In North Rhine-Westphalia (NRW), the federal state that tends to act as a bellwether for the national inflation rate, consumer prices held steady at 0.2 percent on the year in August. In three other states annual ...
EU clears DTZ's purchase of Cushman & Wakefield BRUSSELS: The European Commission said on Friday it had approved DTZ's planned purchase of peer Cushman & Wakefield Inc for an estimated $2 billion to create one of the world's largest real estate services companies. The combined group, which will have more than $5.5 billion in annual revenue and 250 offices in more than 50 countries, will retain the Cushman & Wakefield name. "The Commission concluded that the proposed acquisition would raise no competition concerns, ...
Italy police detain 10 suspected people traffickers in murder probe PALERMO: Italian police have detained 10 people on suspicion of multiple homicide and aiding illegal immigration after 52 migrants were found dead in the hull of a boat this week, a prosecutor's office source said on Friday. Police in Palermo, Sicily, held the suspects after a Swedish coastguard ship arrived at the port city on Thursday carrying the corpses of the victims and hundreds of survivors. Copyright Reuters, 2015 ...
UK migration hits record level over 12 months LONDON: Net migration to Britain has hit record levels, official figures showed Thursday, with the difference between migrants leaving and arriving in Britain rising to 329,000 in the year to March."The net migration figure was a statistically significant increase from 236,000 in year ending March 2014 and is the highest net migration on record," the Office for National Statistics (ONS) said.Immigration Minister James Brokenshire called the figures "deeply disappointing".Prime Minister David Cameron had vowed to ...
Merkel to meet with Balkan leaders over migrants crisis VIENNA: German Chancellor Angela Merkel and western Balkan leaders will gather in Vienna Thursday in a bid to find a coherent approach to tackling the biggest migration crisis to hit Europe since World War II.The meeting comes a day after Merkel vowed zero tolerance for "vile" anti-migrant violence and as criticism grows against the European Union for failing to coordinate a solution.With the situation spiralling further on Wednesday, rescuers found 55 more corpses on stricken ...
Greek president expected to formally call election on Friday ATHENS: Greek President Prokopis Pavlopoulos is expected on Friday to call a snap election for next month, an official at the presidency told Reuters, ending fruitless coalition efforts among parties deeply divided over the country's new bailout. Following last week's resignation of leftist Prime Minister Alexis Tsipras, Pavlopoulos asked a conservative and a radical left leader to try to form a new government and thereby avoid another election just seven months after the previous poll. ...


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Banking Review 2014

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