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Qatar moves fiscal year-end, reforms budget policy DUBAI: Qatar's government is moving the end of its fiscal year to Dec. 31 from March 31 and giving more power to the finance ministry in reforms designed to help the government carry out tens of billions of dollars of infrastructure projects.The changes are contained in a financial system law issued on Tuesday by the emir, Sheikh Tamim bin Hamad al-Thani, the official Qatar News Agency reported.Finance minister Ali Sherif al-Emadi told QNA that the change to the fiscal year-end would make government operations more compatible with the requirements of the private sector and international financial institutions, which tend to base their budgets on calendar years.The state budget for the current fiscal year to March 31, which originally envisaged a 3.7 percent rise in government spending to 218.4 billion riyals ($59.98 billion), will be extended to the end of 2015.The transition will not affect any of the government's planned projects ...

King Salman pledges to maintain stability, create jobs RIYADH: Saudi Arabia's King Salman said he would fight corruption, diversify the economy and confront anybody who challenged the stability of the world's top oil exporter in his first big speech since taking power on Jan. 23.His speech, carried on state television, focused on the need to create private sector jobs for young Saudis, a main policy goal for many years as Riyadh strives to meet a looming demographic challenge while controlling public spending.Addressing the ...
MERS kills 10 more in Saudi, health campaign broadened RIYADH: The MERS virus has killed 10 more people in Saudi Arabia over the past week, pushing the death toll above 400, as health officials broaden their campaign to halt its spread.Saudi Arabia is the country worst-hit by Middle East Respiratory Syndrome coronavirus (MERS-CoV).The latest deaths occurred between February 27 and March 5, adding to a surge of cases that killed 30 people in February alone.Six of those deaths were in Riyadh, health ministry data ...
US will not take eye off Iran's 'destabilising' acts: Kerry       RIYADH: The United States is keeping an eye on Iran's 'destabilising' acts while the two nations try to reach a deal on Tehran's nuclear programme, Secretary of State John Kerry said Thursday."Even as we engage in these discussions with Iran around this programme, we will not take our eye off Iran's destabilising actions in places like Syria, Lebanon, Iraq and the Arabian Peninsula, Yemen particularly," he told reporters in Riyadh.Kerry, who arrived in Saudi Arabia ...
Iranian diplomat kidnapped in Yemen freed TEHRAN: An Iranian diplomat kidnapped in Yemen has been freed and returned to Tehran on Thursday, official media reported.Nour-Ahmad Nikbakht was seized in July 2013 while leaving his home in Sanaa by gunmen suspected of being members of al Qaeda.Copyright AFP (Agence France-Presse), 2015 ...
Lebanese soldier killed in raid on militant hideout BEIRUT: A Lebanese soldier was killed Tuesday in a shootout that erupted during a raid on a militant hideout in northern Lebanon, the army said.The soldier, 32-year-old Mohammad Hussein, was shot dead by a suspected militant during the dawn raid in the town of Bhannine in the northern Akkar region, a military statement said.Soldiers returned fire, killing suspect Abdel Rahman Ahmad Tamer, described as a member of a "terrorist group" that ambushed an army patrol ...
No timeline for Iraqi offensive in Mosul: US WASHINGTON: No timeline should be imposed on Iraqi forces planning an offensive to take back the key city of Mosul as the operation will require elaborate preparations, a senior US envoy said Monday."We've got to be very careful and we need to resist trying to put a timeline on it," said John Allen, the retired US general appointed to coordinate the international coalition against the Islamic State group."We just need to be ready when the ...


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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 06, 2015
Reserves $18.201 bln