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Hong Kong former leader charged over corruption HONG KONG: Hong Kong's former leader Donald Tsang was on Monday charged with misconduct during his time in office, the latest high-profile corruption case to hit the city. Tsang ended his term in disgrace in June 2012 after admitting to accepting gifts from tycoons in the form of trips on luxury yachts and private jets, but insisted there was no conflict of interest.He has since been under investigation by the city's Independent Commission Against Corruption (ICAC).Tsang, 70, who held the leadership post of chief executive for seven years from 2005, will appear in court Monday afternoon.He would become the highest-ranking Hong Kong official to face a corruption trial.In a statement issued to the South China Morning Post, Tsang said he had a "clear conscience"."I have every confidence that the court will exonerate me after its proceedings," he said. The ICAC said Tsang had been charged with two counts of misconduct ...

Australia's ousted Abbott snipes at new government SYDNEY: Toppled Australian leader Tony Abbott took potshots at the new government Tuesday, saying it offered no new policies and that the nation should stop swapping prime ministers "like changing clothes".Abbott was ousted by conservative colleague Malcolm Turnbull in a vote among ruling Liberal party lawmakers earlier this month, as opinion polls plunged two years into office and with an election about a year away.At the time, he vowed there would be "no undermining and ...
Indonesian stampede toll hits 41, officials 'race against time' JAKARTA: The number of Indonesians killed in a stampede at the hajj rose to 41 Monday with scores more still missing, an official said, warning Jakarta faces a "race against time" to identify its citizens who died.The stampede on Thursday during a ritual stoning of the devil near the holy Saudi city of Mecca killed 769 people, the worst disaster to strike the annual Muslim pilgrimage in a quarter of a century.At least 144 Iranians ...
Nepal leader cancels US visit for talks on constitution KATHMANDU: Nepal's Prime Minister Sushil Koirala on Wednesday cancelled plans to visit the United States so he can hold talks on a new constitution that has triggered deadly protests in parts of the country.Koirala will meet regional parties opposed to the new charter adopted on Sunday, his foreign adviser told AFP.Plans to divide the country into seven provinces under a federal structure have infuriated some parties. They say the new internal borders will leave some ...
China's Xi says will not devalue currency to boost exports SEATTLE: Chinese President Xi Jinping pledged Tuesday to not push the value of the yuan currency lower just to strengthen Chinese exports.Speaking to a large audience of US businessmen and state officials with strong interests in Chinese commerce, Xi said the government was sticking to its plan to let the yuan, or renminbi (RMB), eventually adjust by market forces. The modest August devaluation of the currency, which shook international markets, "achieved initial success in correcting ...
Australia PM Turnbull admits 'concerns' about asylum seeker camps SYDNEY: Australia's new Prime Minister Malcolm Turnbull Wednesday admitted he had concerns about asylum seekers being held in Pacific island camps, but gave no indication of immediate change to the hardline policy.All asylum seekers coming by boat to Australia are sent to camps in Papua New Guinea and Nauru and ultimately denied resettlement in Australia even if they are found to be genuine refugees.Asked about the plight of hundreds of these people, some of whom ...
New Australian PM urges Beijing to cool tensions in South China Sea SYDNEY: Australia's new Prime Minister Malcolm Turnbull has advised China to ease off on island construction in the South China Sea if it wants a reduced US presence in the region.Beijing claims almost the whole of the sea and over the past year has been converting reefs into artificial islands, with military facilities, sparking regional concern and warnings from Washington."There clearly are some tensions with the islands in the South China Sea, the reefs I ...

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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 $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln