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Tsunami threat as 7.4 magnitude quake hits Papua New Guinea SYDNEY: A 7.4 magnitude earthquake struck off Papua New Guinea on Tuesday with tsunami waves possible along the coast, seismologists said, although local residents said there was no major damage and sea levels were the same.The quake struck 133 kilometres (83 miles) south-southwest of the town of Kokopo in the New Britain region at a depth of 63 kilometres, the US Geological Survey said, and was followed by a 5.9 magnitude aftershock.The Pacific Tsunami Warning Center said "hazardous tsunami waves are possible for coasts located within 300 kilometres of the earthquake epicentre" before later advising that "tsunami waves reaching 0.3 to 1.0 metres above the tide level are possible".Mathew Moihoi, a seismologist at the PNG Geophysical Observatory, said the latest quake followed a series of seismic activity in the region in recent weeks but there had been no reports of major damage to buildings or infrastructure."Some things fell off the ...

Strong quake in New Zealand, no damage reported WELLINGTON: A strong 5.6-magnitude earthquake hit New Zealand's South Island on Monday with local authorities saying it shook buildings but caused no serious damage.The tremor struck at 2.29 pm (0229 GMT) at a relatively shallow depth of 10 kilometres (6.2 miles), with its epicentre about 30 kilometres north-west of Wanaka, the US Geological Survey said.New Zealand's official GeoNet monitoring service listed the quake as "severe" and said there were reports of strong shaking from across ...
China's Xi meets Taiwan ruling party chief: Xinhua BEIJING: Chinese Communist Party chief Xi Jinping held talks with the visiting leader of Taiwan's ruling party on Monday, state media reported, the first such meeting for seven years. Xi, who is also China's president, welcomed Kuomintang (KMT) party head Eric Chu, the official Xinhua news agency reported in a brief dispatch.Pictures showed the two men smiling and shaking hands at the Great Hall of the People.Relations between the political parties that fought a civil ...
Death toll rises to six in Australian floods SYDNEY: The death toll from heavy rains that inundated Australia's east coast has climbed to six, as flood warnings continued Sunday following a severe deluge that cut power to thousands of homes and isolated numerous communities.The eastern states of Queensland and New South Wales (NSW) faced a huge clean-up task ahead, but were forecast to experience easing conditions on Sunday following two days of wild weather."Never before have we seen such a huge volume of ...
Woman risks collie-sion with China motorway dog walk: Xinhua BEIJING: A woman who took her dog for a walk on a motorway in China while her car was parked in the middle of the road was "punished" by police, state media said Sunday.Her boyfriend was answering "an urgent call of nature" with the couple's car "in the middle of the highway" in the central Hubei province Friday, Xinhua said, without giving further details."The driver did not set up a warning triangle behind the car ...
6.7 magnitude earthquake hits Papua New Guinea: USGS WASHINGTON: A 6.7 magnitude earthquake struck New Britain island off Papua New Guinea Thursday, 131 kilometers (81 miles) southwest of the town of Kokopo, US seismologists said. The quake hit the island at 1045 GMT, northeast of mainland Papua. The US National Oceanic and Atmospheric Administration said "a destructive Pacific-wide tsunami is not expected." The quake hit at a depth of 48.9 kilometers and the US Geological Survey initially reported the earthquake's magnitude at 6.8, ...
McDonald's supplier gets Beijing's biggest pollution fine: Xinhua BEIJING: A McDonald's joint venture in China supplying its outlets with French fries has been slapped with a record 3.9 million yuan ($630,000) fine for water pollution, state media reported.The fine levied against Beijing Simplot Food Processing is the largest ever meted out by the city of Beijing for pollution, the official Xinhua news agency said, citing the municipal environmental watchdog.Beijing Simplot Food Processing is a joint venture between US agribusiness concern J.R. Simplot Company, ...

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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 26, 2015
Reserves $17.749 bln