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French government to force through economic reforms PARIS: France's socialist government was to force a package of key economic reforms through parliament Tuesday as a left-wing group of rebel MPs threatened to torpedo its passage into law.Prime Minister Manuel Valls is set to resort to a little-used constitutional device to push through the reforms without a vote.This will spark a motion of no confidence in the government which could in theory bring it down, but analysts say it has little to no chance of being passed.The package of laws is the brainchild of former banker now Economy Minister Emmanuel Macron and the government sees it as vital to pep up the moribund economy, the second biggest in the eurozone.The proposed legislation aims to liberalise certain sections of the notoriously highly protected French economy, including allowing shops to open more frequently on Sunday.But the proposals have proved highly divisive from the beginning and a group of between 30 ...

German investor sentiment falls to seven-month low in June: ZEW FRANKFURT: Investor sentiment in Germany fell to its lowest level in seven months in June as the uncertainty over Greece and subdued global growth weighed on confidence, a leading survey found on Tuesday.The widely watched investor confidence index calculated by the ZEW economic institute fell by a steeper-than-expected 10.4 points to 31.5 points in June, its lowest level since November 2014, ZEW said in a statement.Copyright AFP (Agence France-Presse), 2015 ...
British inflation rate turns positive in May LONDON: Britain's annual inflation rate rebounded in May after briefly entering negative territory the previous month, official data showed Tuesday."The Consumer Prices Index rose by 0.1 percent in the year to May 2015, compared with a 0.1 percent fall in the year to April," the Office for National Statistics (ONS) said in a statement.In April, the CPI rate had turned negative for the first time since 1960 on the back of falling prices for transport ...
Embattled Greek PM seeks to shore up domestic support ATHENS: Greek Prime Minister Alexis Tsipras sought Tuesday to muster domestic support for his government in its tug-of-war with EU-IMF creditors over a deal to save Greece from default.Tsipras was meeting with a top conservative politician and the leaders of the socialist and pro-EU parties as Greece came under pressure to compromise with no new proposals in the offing.The radical left government in Athens is resisting calls from the international creditors to increase taxes and ...
Buyers beware Vietnam coal exports grapple with El Nino year HANOI: China, Japan and other Asian buyers of Vietnamese coal can expect more uncertainty in the volume of shipments this year as scorching weather linked to the El Nino phenomenon raises domestic power consumption to a record, adding pressure on regional supply of the fuel.Electricity demand hit 14.96 billion kilowatt-hours in May as households and businesses turned up air-conditioning to beat a heat wave that has enveloped the country since early last month. That led ...
German inflation higher again in May FRANKFURT: Inflation in Germany, Europe's biggest economy, crept higher in May with consumer prices rising by 0.7 percent year-on-year, final data showed on Tuesday. The index had risen in April by 0.5 percent on a 12-month basis, the federal statistics office Destatis said in a statement.Using the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany also rose by 0.7 percent year-on-year in May, still ...
India's exports fall 20.2pc in May NEW DELHI: India's merchandise exports contracted 20.2 percent year-on-year in May, for the sixth straight month, dragged down by a slump in global demand, government data showed on Tuesday.Trade deficit narrowed to $10.41 billion last month from $10.99 in April, data released by the Ministry of Commerce and Industry showed.Imports fell 16.52 percent from a year earlier to $32.75 billion in May. Exports stood at $22.35 billion, the data showed.Copyright Reuters, 2015 ...

 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln