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Chinese military paper warns a corrupt army does not win wars BEIJING: The Chinese military's official newspaper warned on Sunday that a corrupt army would not win wars, three days after the government announced a former senior officer would be prosecuted for graft.Serving and retired Chinese military officers as well as state media have questioned whether China's armed forces are too corrupt to fight and win a war.President Xi Jinping has made weeding out corruption in the armed forces a top goal and several senior officers have been felled, including two of China's most senior former military officers, Xu Caihou and Guo Boxiong.The government said on Thursday that it would prosecute Guo for corruption. Xu died of cancer in March."If we allow the growth and spread of corruption, the guns will rust, the pillars will collapse," the People's Liberation Army Daily said in a front-page editorial."History has repeatedly proven that if corruption is not eliminated, we will defeat ourselves even before ...

Iran plans to buy 80-90 Boeing, Airbus planes a year, post sanctions DUBAI: Iran plans to buy as many as 90 planes per year from Boeing and Airbus to revamp its antiquated fleet once Western sanctions are lifted, its state news agency IRNA quoted a senior aviation official as saying on Sunday."Iran will buy a total of 80-90 planes per year from the two aviation giants in the first phase of renovating its air fleet," said Mohammad Khodakarami, the caretaker director of Iran's Civil Aviation Organization, according ...
Malaysia's PM Najib says Qatar, China interested in 1MDB assets KUALA LUMPUR: Malaysian Prime Minister Najib Razak said Qatar and China have expressed an interest in the assets of debt-laden state fund 1Malaysia Development Bhd (1MDB), state news agency Bernama reported on Saturday.1MDB, the centre of several investigations over graft and its management of funds, is seeking to offload assets parked under its power unit Edra Global Energy Bhd, and sell developmental rights in its high-profile property projects.Najib said Qatar's Emir Sheikh Tamim bin Hamad ...
One dead as gunmen open fire at Sri Lanka election rally COLOMBO: Unidentified gunmen opened fire at an election campaign rally in the Sri Lankan capital Colombo on Friday, killing a woman and wounding at least 12 people, police said.The attackers sprayed bullets into the crowd just after Finance Minister Ravi Karunanayake left the venue, marking the first major violence ahead of the August 17 parliamentary elections."The gunmen travelled in two vehicles and escaped in the same vehicles after the shooting spree," police spokesman Ruwan Gunasekera ...
Iran launches charm offensive among wary Gulf Arabs DUBAI: Iran's foreign minister began a charm offensive in the Gulf on Sunday to defend a nuclear deal seen by some Arab states as heralding greater Iranian support for armed groups and governments opposed to the hereditary monarchies.Most Gulf Arab states are worried that Iran's July 14 accord with world powers will hasten detente between Tehran and Washington, emboldening Tehran to increase backing for Middle Eastern allies at odds with Gulf Arab countries.The minister, Mohammad ...
India PM promises billions to Bihar as elections loom PATNA: Indian Prime Minister Narendra Modi on Saturday took his political campaign to the impoverished state of Bihar, promising billions of dollars for infrastructure projects as he seeks to win support ahead of crucial elections there.Modi committed to allocate funds amounting to some $5.8 billion over five years to help develop the eastern state, as he addressed a gathering in state capital Patna. The Hindu nationalist premier also launched railway, highway, gas and energy projects, ...
Maldives sacks vice-president for 'treason' COLOMBO: The Maldives parliament has sacked the country's vice-president and accused him of treason, as international concern mounts over the state of democracy on the honeymoon islands.Lawmakers voted overwhelmingly on Tuesday evening to oust Mohamed Jameel, who was the running mate of President Abdulla Yameen in a controversial 2013 election but has now fallen out with him.The 45-year-old, who was abroad at the time of the vote, was also accused of colluding with the opposition, ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln