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G7 preoccupied with eurozone debt, China 'bubble' Iqaluit, Canada (AFP) Feb 5, 2010 
Finance ministers and central bankers from leading industrial nations Saturday held a second day of talks in northern Canada as fresh market turmoil cast doubt on a fragile global economic recovery.
Topping the agenda for the final day of "frank" G7 talks was to be growing concerns over eurozone debt as well as the yuan, which China has been accused of keeping deliberately weak to boost expo ... read morePresident Hu says China must change economic model 
Beijing (AFP) Feb 3, 2010China's President Hu Jintao said Wednesday it was "essential" for his country to change its economic model, which depends on exports and investment, by learning lessons from the global economic crisis. "The world financial crisis even further exposed the problem of transforming our model of economic development," Hu said in a speech to top ministerial- and provincial-level officials, accordi ... more
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Penguin future looks perkier with marine zone: study
EU ministers call for common electric car strategy US warns China against 'stillborn' climate deal Eastern US braces for more snow misery Snowbound US government freezes up on hot issues Homes evacuated as Los Angeles braces for storm Eastern US braces for fresh snow blitz Swift help urged for Haiti's crucial weather forecasters Amnesty demands halt to Vedanta's India mine plans Two dead as storms, floods hit Turkey's south: report 
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Outside View: Barack Sisyphus Obama
Washington (UPI) Feb 3, 2009 After a year and two weeks in office, President Barack Obama and his approval ratings have suffered more than just the slings and arrows of outrageous fortune. As virtually all recent presidents before him, the first year has been unkind and even hostile. But, unlike his predecessors, this president faces a far greater number of problems, crises and challenges with solutions that range from di ... more Outside View: U.S. bonds as investments
College Park, Md. (UPI) Feb 2, 2009 U.S. President Barack Obama's budget and deficit projections don't reveal the sick state of U.S. finances, casting serious doubt on the safety of U.S. bonds. Obama plans significant initiatives in healthcare, environment, education and jobs creation. Yet, the private sector, which must be taxed to finance government, is likely to grow slowly, resulting in too much federal borrowing. ... more Brazil's fortunes slump on bubble fears, China tightening 
Sao Paulo (AFP) Jan 31, 2010Fears of a speculative asset bubble and moves by China to rein in an overheating economy have taken their toll on Brazil, eroding equity prices and the national currency, the real. The strongest warning for Latin America's biggest economy, still seen as one of the most attractive of the emerging markets, came from the Organization for Economic Cooperation and Development. "There's... a d ... more Davos ends with recovery warning after banking bust-up 
Davos, Switzerland (AFP) Jan 30, 2010The world economy is recovering but remains fragile and dogged by huge deficits, top officials said Saturday at the end of a Davos summit clouded by divisions over banking reform. Asia is leading the resurgence after the worst crisis for decades with China eyeing double-digit growth, but the United States and Europe remain dogged by unemployment and the eurozone is grappling with a crisis ov ... more |
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Asian economies seeing growth accelerate: IMF
Washington (AFP) Jan 26, 2010Asia's developing economies are seeing acceleration in 2010, led by an expected 10 percent growth rate by China, the IMF forecast Tuesday as the region recovers swiftly from a global downturn. The International Monetary Fund allayed markets concerns about immediate risks to China's growth as Beijing moved to tighten liquidity amid soaring inflation and record high bank lending. In its W ... more World Bank praises China anti-inflation steps 
Beijing (AFP) Jan 25, 2010The World Bank said Monday recent moves by China to clamp down on rampant lending were the "best way" to tackle the problem of rising inflation and the threat of asset bubbles. "It is very tricky once you are in this situation of heavy credit growth to try to come off that. It is a very fine line between doing it too quickly and not doing enough," Ardo Hansson, lead economist of the World Ba ... more Sarkozy on prime time TV to defend his reforms 
Paris (AFP) Jan 25, 2010Battered in the opinion polls, French President Nicolas Sarkozy goes on prime time television Monday to defend his record in office as joblessness rises and regional elections loom. France's top television channel, TF1, is asking 11 French viewers from all walks of life to put their questions directly to the president during the 90-minute programme starting at 8 pm (1900 GMT). Sarkozy ha ... more World Bank sees 'signs of bubbles' in Chinese economy
Washington (AFP) Jan 20, 2010The lead author of a World Bank report on the global economy published Wednesday said the bank sees "signs of bubbles" in the Chinese economy, a problem he said the Chinese government acknowledges. "We can already see some signs of bubbles and signs of tensions in the Chinese economy, in particular in the housing sector," said Andrew Burns, head of the bank's macroeconomic forecasting, at a news briefing Tuesday under embargo until the report was released late Wednesday in Washington. ... more |
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