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Queen Elizabeth to unveil EU referendum plans as UK parliament opens LONDON: Britain's Queen Elizabeth will set out the government's plans for a European Union membership referendum on Wednesday as Prime Minister David Cameron faces pressure to explain when it will be held and what changes to the EU he wants before then.Cameron, who says he would prefer to stay inside a reformed EU but isn't "ruling anything out" if it fails to change, was re-elected on May 7 on a pledge to reshape ties with the bloc before allowing Britons to vote on whether to stay or leave.Queen Elizabeth, 89, will detail the plans in a speech written for her by Cameron's government as she opens parliament with an annual display of pomp.She will say the new Conservative government plans to pass a law in its first year that would allow the referendum to occur by the end of 2017.In a gesture meant to underscore Cameron's seriousness, the law will ...

UNHCR slashes Burundi refugee figure from earlier ‘guesstimate’ GENEVA: The UN refugee agency UNHCR said on Tuesday that 72,618 people have fled Burundi in recent weeks, cutting its estimate of how many had sought asylum in neighbouring countries by more than 30,000. The UNHCR had previously said 110,000 Burundians had fled to Rwanda, Democratic Republic of Congo and Tanzania, where a cholera epidemic hit thousands taking refuge in the Kagunga peninsula. "A head count of Burundian refugees in Kagunga and the reconciliation of ...
Greek signal on meeting debt obligations encouraging: Germany BERLIN: It is encouraging that Greece has signalled its desire to meet looming debt obligations, including a 300 million euro payment to the IMF which falls due on June 5, a senior German official said on Tuesday."I find it encouraging, if it is true, that the Greeks signalled yesterday their desire to repay the 300 million euros to the IMF on June 5," the official said."I find it encouraging because it means that Greece has ...
Spain's ruling PP party takes battering in regional vote MADRID/VALENCIA: Spain's ruling People's Party (PP) took a battering in regional elections on Sunday with Spaniards punishing Prime Minister Mariano Rajoy for four years of severe spending cuts and a string of corruption scandals. Although the PP got more votes than any other party, it suffered what could be its worst election result in more than 20 years, exit polls showed, as an economic rebound after a severe recession failed to conserve the absolute majority ...
British PM Cameron says to freeze government ministers' pay for 5 years LONDON: British government ministers will have their pay frozen for another five years as the government tries to reduce the budget deficit, Prime Minister David Cameron said on Sunday.Cabinet ministers receive 134,565 British pound ($208,000) a year, including their parliamentary salary. Their pay has been frozen since 2010, when it was cut by 5 percent as part of the then-coalition government's austerity efforts.Cameron's Conservatives, who won a surprise majority in this month's election, have pledged ...
Schaeuble says France, Italy on right path as borrowing falls BERLIN: France and Italy are on the right path in reducing their net new borrowing, German Finance Minister Wolfgang Schaeuble said in a radio interview to be aired on Sunday, adding that net new borrowing had been cut sharply throughout the euro zone.Germany posted its first balanced budget in 2014 since 1969 and has long urged its eurozone partners to reduce their deficits that contributed to the currency bloc's crisis."France has cut its new borrowing ...
Greek premier defiant as bailout talks enter 'homestretch' ATHENS: Greek Prime Minister Alexis Tsipras said Saturday he believes a bailout deal with creditors is nearing, yet remained adamant that there are strict limits to demands Athens will accept."We have done what we ought to do, now it's Europe's turn to do so," Tsipras said in a speech to his hard-left Syriza party's central committee, where he claimed the country is "in the homestretch of a painful and difficult period." The Syriza-led government is ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln