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US promises South Korea all military resources SEOUL: US Deputy Defence Secretary Ashton Carter on Monday promised to provide South Korea with every military resource under the US nuclear umbrella at a time of heightened tensions with North Korea.Carter was in Seoul on the second leg of a four-nation tour of US allies and partners in Asia including Japan, the Philippines and Indonesia."We remain steadfast to our commitment to extended deterrence offered by the US nuclear umbrella," Carter said after talks with South Korean Defence Minister Kim Kwan-Jin."We'll ensure all of our resources will be available to our alliance," he was quoted as saying by Yonhap news agency.Carter's visit came just days after the United States announced it would bolster defences against a possible North Korean missile strike in response to Pyongyang's threat of a "pre-emptive" nuclear attack.Defence Secretary Chuck Hagel said Friday that 14 more interceptors would be stationed in Alaska, increasing by almost half the ...

Charges sought over $4mn Ferrari, Lamborghini pile-up TOKYO: Police in Japan said Monday they want to charge 10 drivers over a $4 million, multi-car pileup involving eight Ferraris, one Lamborghini and a Mercedes-Benz.The chain-reaction smash in December 2011 occurred when a convoy of expensive sports cars were on a freeway in Shimonoseki in western Japan, said Yamaguchi prefectural police official Shinji Tanaka. The driver of the lead Ferrari lost control of his luxury ride and those behind the wheels of nine supercars ...
Taiwan to aim 50 medium-range missiles at China: report TAIPEI: Taiwan is set to produce 50 medium-range missiles next year that will target military bases in southeast China, a media report said on Monday.The article came after former defence minister Michael Tsai revealed in a recently published book that the island successfully created medium-range guided missiles that could be used against rival China back in 2008.The "Yun Feng" (Cloud Peak) missile has been developed by the state-run Chung-shan Institute of Science and Technology and ...
Chinese Parliament endorses new Cabinet line-up BEIJING: The new line-up of China's State Council, nominated by Premier Li Keqiang, was endorsed by lawmakers at the ongoing national legislative session here Saturday.Zhang Gaoli, Liu Yandong, Wang Yang and Ma Kai were endorsed as vice premiers, with Yang Jing, Chang Wanquan, Yang Jiechi, Guo Shengkun and Wang Yong as state councillors. Yang Jing was also appointed secretary-general of the State Council, reports Xinhua news agency.Lawmakers also endorsed Li's nominations of ministers, governor of ...
Wang Yi named as foreign minister: parliament BEIJING: China's parliament on Saturday named Wang Yi, a former ambassador to Japan and currently in charge of Taiwan affairs, as the country's new foreign minister.Wang replaces Yang Jiechi, who has served since 2007, as head of the ministry. Yang was named to the State Council, according to an announcement by the National People's Congress, China's rubberstamp parliament.Copyright AFP (Agence France-Presse), 2013 ...
Cherry blossom season officially begins in Tokyo TOKYO: Japan's weather agency announced the official beginning of cherry blossom season in Tokyo on Saturday, equalling the record for the earliest ever start.The national weather service used the capital's central Yasukuni Shrine as a barometer to judge the start of the season, which sees an explosion of colours that last only about a week.The March 16 date equals the previous record set in 2002, according to the agency, which has monitored cherry blossom since ...
Hollande congratulates new Chinese president PARIS: French President Francois Hollande on Friday congratulated China's new President Xi Jinping and expressed France's wish to buttress ties with the economic superpower. Xi was named as president Thursday by China's parliament, four months after he took charge of the Communist Party with pledges of reform.Hollande expressed France's "desire to intensify the strategic global partnership between the two countries," the Elysee presidential office said in a statement. "In a rapidly changing world, the ...

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Banking Review 2013


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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln