The NFEC Warns: 2012 May Bring New Global Economic Concerns, which Adds Additional Reasons to Teach Money Management Lessons to Kids

The National Financial Educators Council encourages communities to teach money management lessons to proactively address the global economic crisis.

Consumer confidence index surges in December

NEW YORK – Americans are gaining faith that the economy is on the upswing. The monthly Consumer Confidence Index surged to the highest level since April and is approaching a post-recession peak.

Economy expected to pick up, but still vulnerable

WASHINGTON — The U.S. economy will grow faster in 2012 — if it isn’t knocked off track by upheavals in Europe, according to an Associated Press survey of leading economists.

Economy ends tough 2011 on a surprising upswing

WASHINGTON—The economy is ending 2011 on a roll.The job market is healthier. Americans are spending lustily on holiday gifts. A long-awaited turnaround for the depressed housing industry may be under way. Gas is cheaper. Factories are busier. Stocks are higher.

Oil price near $100 on global security concerns

NEW YORK (AP) — Oil prices rose above $100 a barrel Friday as worries over global security issues outweighed weak economic data in the U.S.

Hungary borrowing costs rise on junk downgrade

The implied cost of borrowing for Hungary has risen after ratings agency Standard & Poor's (S&P) downgraded the country's debt to junk status.

BOJ warns of economic standstill as exports slump

TOKYO (Reuters) - Japan's central bank offered a bleaker view of the economy and the government warned of worsening business sentiment as exports slumped, adding to evidence of the pain Europe's debt crisis is inflicting on global growth and Japan's recovery prospects.

More Fed easing "gives me pause": Kocherlakota

(Reuters) - Minneapolis Federal Reserve Bank President Narayana Kocherlakota on Tuesday said the idea of more Fed easing in the face of higher long-term unemployment "gives me pause."

If Payroll Tax Cut And Unemployment Benefits Are Not Extended, Labor Market Could Take Big Hit

As Congress jockeys over emergency stimulus measures that are set to expire soon, economists warned Monday that congressional inaction could spell further woes for the already sputtering economy, making an stagnant labor market even worse.

Consumer prices flat in November

(Reuters) - Consumer prices were flat in November as Americans paid less for cars and gasoline, a further sign of a cooldown in inflation that could give the Federal Reserve more room to help a still-weak economy.

Jobless claims at 3.5 year low, factories mixed

(Reuters) - The number of Americans filing new claims for jobless benefits dropped to a 3-1/2-year low last week, suggesting a weak U.S. economy is gradually improving even though factory data proved more mixed.

Treasury sells 30-year bonds at a record-low yield

NEW YORK (AP) – High demand for U.S. government debt pushed the yield on the 30-year Treasury bond down to a record low Wednesday.

Fed sees risks from Europe

(Reuters) - The Federal Reserve on Tuesday pointed to turmoil in Europe as a big risk to the economy, leaving the door open to a further easing of monetary policy even as it noted some improvement in the labor market.

Gold Prices Struggle to Stay Near $1, 700

Gold prices fell Wednesday on negative economic news from China and Europe plus concerns that the world's No. 1 economy is barely advancing.

Stocks close sharply higher as most of Europe agrees to fiscal coordination plan

A deal to forge stronger ties between most of Europe's economies sent stocks sharply higher Friday as hopes grew that the region is close to resolving its debt crisis.

Global Economy, U.S. Markets: Forecasts, Challanges

NEW YORK -- During November we experienced a huge interruption in the rally begun in October. However, the rally in the equity markets around the world and in risk assets in general resumed, as central bank coordination was announced.

Durban may be where seeds of new climate plan are planted, or where current one meets its doom

DURBAN, South Africa — As a global climate conference enters the home stretch, it’s likely that the 194 nations represented will reach some consensus on how to respond to the emissions that are warming the planet.

Investors flock to growing security sector

WASHINGTON, Dec. 6 (UPI) -- Global investment in security industries is growing and is worth at least $60 billion, the latest analysis of trends in the sector by PricewaterhouseCoopers reported.

Eurozone: France and Germany call for tougher treaty

The leaders of France and Germany say the EU needs a new treaty to deal with the eurozone debt crisis.

Central Texas bids to make itself commercial hub of cyber security industry

Central Texas, which is already fighting on those fronts, is poised to become a commercial hub of cyber security and a magnet for the high-paying jobs that the industry brings.

Obama to meet with Canadian PM Harper next week at White House

ASHINGTON — The White House says President Barack Obama will meet with Canadian Prime Minister Stephen Harper on Wednesday to discuss economic issues.

Merkel urges euro fiscal union to tackle debt crisis

German Chancellor Angela Merkel has said Europe is working towards setting up a "fiscal union", in a bid to resolve the eurozone's debt crisis.

Norwegian Economy Slows as Consumer Spending Growth Abates

Norway’s economy slowed in the third quarter as a threat to growth from Europe’s debt crisis damped consumer spending.

OECD issues stark warning on global economy

PARIS (AP) — The Organization for Economic Cooperation and Development said Monday policy makers around the world must "be prepared to face the worst," as the economic impact of Europe's debt crisis threatens to spread around the developed world.

Stocks, Commodities Advance on Europe Outlook, U.S. Retail Sales

Nov. 28 (Bloomberg) -- Global stocks rose for the first time in 11 days and commodities and the euro advanced as European leaders drafted a framework for the region’s bail-out fund and America’s Thanksgiving retail sales jumped to a record. Treasuries declined.

Singh Opens Economy to Spur Rupee as 10% Drop Seen: India Credit

Nov. 28 (Bloomberg) -- Prime Minister Manmohan Singh is taking further steps to open up India’s economy to support the rupee as HSBC Holdings Plc and CLSA Asia-Pacific Markets predict the currency may slide another 10 percent.

European debt crisis escalates in Italy as rates rocket

MILAN (AP) – Italy's borrowing rates skyrocketed during bond auctions Friday, initally battering stock markets in Europe as the continent's escalating debt crisis laid siege to the eurozone's third-largest economy.

Hungary Credit Rating Cut to Junk at Moody’s

Hungary must redouble efforts to obtain International Monetary Fund aid and the central bank should raise rates to ease financing risks after Moody’s Investors Service cut the country’s credit grade to junk, said fund managers from Budapest to London.

High executive pay 'corrosive' to the UK economy, report warns

Government action to curb boardroom pay becomes more likely as an influential group with the ear of the business secretary, Vince Cable, publishes proposals to reduce the pay gap.

US panel says yuan is a threat to dollar's dominance

The yuan could threaten the US dollar's dominance as an international reserve currency an independent committee set up by the US congress has warned.

Exports could give economy £20bn lift, says CBI report

he government should reorientate the UK economy towards exports, which could add £20bn to the UK economy by 2020, business group the CBI has said.

Supercommittee likely to admit defeat on debt deal

The congressional committee tasked with reducing the federal deficit is poised to admit defeat as soon as Monday, and its unfinished business will set up a year-end battle over emergency jobless benefits and an expiring payroll tax holiday.

IMF to Wait for Political Support for Greek Funds

The International Monetary Fund won’t release the next tranche of funding for Greece under a 110-billion euro ($148 billion) package with the European Union until there is broad political support for the measures attached to the loan, a spokesman said.

OECD warns that global economy is slowing

The Organisation for Economic Co-operation and Development (OECD) says that every economy it monitors suffered a slowdown during September.

German Economy Shines As Euro Loses Luster

As the debt crisis in Europe deepens, Americans may be feeling sorry for Germany.

Leaders: Asia-Pacific free trade vital to recovery

KAPOLEI, Hawaii (AP) — Opening markets to freer trade is crucial to a lasting global economic recovery, Asia-Pacific leaders agreed Sunday as they wrapped up a summit that produced tangible progress toward a U.S.-backed regional trade bloc.

Markets rise but contagion fears spread to Spain

Political progress in Italy and Greece pushed stock markets higher but economists warned of stormy weeks ahead as attention turned to Spain amid fears it could be the next economy to come under the spotlight.

Near Pacific summit site, reminder of U.S. security role

The wealthy nations attending the Asia-Pacific Economic Cooperation summit in Hawaii may fight over trade, but they've avoided serious armed conflict for decades, and the U.S. Pacific Command aims to keep it that way, even as it copes with budget pressures and a surging China.

Russia, China laud their economic bloc

MOSCOW (AP) — The member states of a security pact dominated by Russia and China pledged Monday to boost their financial and energy cooperation, despite the global economic slowdown.

Greek leaders labour to agree on new premier

ATHENS: Greek party leaders laboured on Tuesday to agree on a new prime minister, with the rest of the nation and the EU clamouring for an immediate deal on a unity coalition to save the country's finances and end the chaos threatening the euro.

Don't count on China to rescue Europe: ex-lawmaker

China is willing to help Europe -- its largest export market -- to deal with its debt crisis and get back on a recovery path, but there are limits to what it can actually deliver, Cheng Siwei, a former top Chinese lawmaker, said on Saturday.

Early Economic Projections Could Haunt Obama in 2012

A year out from Election Day: an eon in political time, sufficient to alter circumstances substantially for or against either party.

Will G-20 Counter Power of Uncertainty?

By Alexander Mirtchev

In 2009, G-20 leaders met in Pittsburgh and emerged with a mandate ‘to be the premier forum for international economic cooperation,' endowing the G-20 with a leading economic role on the global stage. It appeared at the time that the leaders of the G-20 had successfully defeated pessimism. However, the rising tide of global economic turmoil and problems ranging from sovereign indebtedness to consumption and saving imbalances have created a ‘perfect storm' that is far from abating.

G-20 Ends Without a Deal

The European Union had hoped to come to a meeting of the Group of 20 large economies here with a grand plan to rescue the euro zone from its debt crisis, and to leave with the firm support of its international peers.

Industrial metals rise on earnings

Industrial metals prices closed higher Wednesday as strong corporate earnings and an increase in payrolls made investors more optimistic about the U.S. economy.

Eurozone debt crisis: Markets dive on Greek referendum

US and European markets have fallen following Monday's announcement of a Greek referendum on the latest aid package to solve its debt crisis.

Market finally seen entering the bull phase: Deepak Mohoni

The market participated whole-heartedly in last week's global rally, with the Sensex surging 6.07% or 1,019.16 points, and the Nifty shooting up 6.15%. The CNX Midcap Index gained a relatively modest 3.31%.

Behind the scenes in the six-day war to save the euro

The guardians of the euro arrived in Brussels last week knowing their efforts to quell the Greek debt crisis over the past two years had failed to build confidence.

Savings rate falls to lowest level since 2007

The good news is, a recent pick-up in consumer spending is fending off fears of another U.S. recession.

Americans spent more in Sept., but saved less

Americans spent in September at three times the pace of the previous month, even though their incomes barely budged. They financed their spending binges by saving at the lowest level since the start of the Great Recession.

Shell and Exxon see profits up sharply on oil prices

Higher gas and oil prices have pushed up profits at ExxonMobil and Royal Dutch Shell during the three months to the end of September.

Norway may help euro zone if asked

Norway says it would consider using some of its North Sea oil wealth to strengthen the euro zone rescue fund if asked.

States to speed up austerity, embrace 'limited' treaty change

Leaders of the EU's 27 member states met on Sunday (23 October) with little fresh to show in the face of the biggest crisis in the bloc's history, but did back a "limited" change to the EU treaty to deliver stronger economic convergence amongst eurozone countries.

IMF Sees Strong Growth In Africa, But Global Economy Poses Risks

JOHANNESBURG -(Dow Jones)- Sub-Saharan Africa will grow by 5% on average this year and 5.75% in 2012, though fallout from global financial volatility poses serious risks for the region's most developed economies, the International Monetary Fund said Wednesday.

"The main threat to economic activity in the region is the strong possibility that global growth will decelerate further," the IMF wrote in its regional economic outlook for sub-Saharan Africa.

Indian outsourcers hit by global economic worry

MUMBAI — Shares in India's biggest IT outsourcing firms sank on Tuesday on concerns that rising global economic uncertainty in key markets will hit future growth of the country's flagship sector.

India's largest software exporter Tata Consultancy Services closed down 7.71 percent to 1,033.50 rupees -- the company's sharpest single-day fall in a year a day after its latest quarterly growth data lagged estimates.

Europe close: Bourses mixed on global economic fears

LONDON (SHARECAST) - European markets finished mixed on Tuesday after a topsy-turvy day, but bourses recovered from their daily lows after a better start on Wall Street. However, early on, the mood was dampened by uncertainties concerning France’s credit rating and some worrying data from China.

The Cac in Paris finished 25 points down at 3.141. the Ibex in Madrid was 53 under at 8,811, while the Dax rose 18 to 5,877 in Germany.

Italy and Spain need ‘bazooka’ to avoid insolvency: Roubini

A Greek default could trigger a global economic shock on the scale of that suffered after Lehman Brother Holdings Inc.’s 2008 failure, said Nouriel Roubini, chairman and co-founder of Roubini Global Economics LLC.

A disorderly default by a member of the euro area or an exit from Europe’s single currency bloc could cause a shock “that would reverberate through the global economy,” Roubini said at a seminar in Helsinki Monday organized by Evli Bank Oyj.

The global jobs challenge

Over the past three decades, hundreds of millions of new workers have entered the global economy. They arrived with various levels of education and skill, and over time have generally gained in terms of “human capital” – and in terms of value added and income. This has brought a tremendous, and ongoing, growth in income levels, opportunities, and the size of the global economy. But these new workers have also brought more employment competition and significant shifts in relative wages and prices, which is having profound distributional effects.

Is the global economy facing a global banking crisis?

So it's official. The French-Belgian specialty bank Dexia is the first financial institution to fall victim to Europe's debt crisis. In a deal hammered out by the governments of France, Belgium and Luxembourg, Dexia will be dismantled, with the Belgian government nationalizing the local operations of the bank.

Taxpayers are also on the hook for $120 billion in credit guarantees. I can't imagine that Dexia will be the only bank in Europe to meet this fate as the euro crisis continues to boil. Banks across the region hold festering compost heaps of rotting sovereign debt, spoiling the strength of their balance sheets. Some have holdings bigger than their capital. Greek banks are so exposed to their faltering government that I can't see how they dodge a bailout. French banks have been under pressure as financing has dried up. And with talk of a do-over for the proposed second bailout of Greece, as that nation's financial position continues to deteriorate, banks across Europe could be facing larger losses on their holdings of Greece's sovereign bonds.

TSMC sees weak global economic growth over next year

TSMC, the world's top contract chip maker, expects weak growth in the global economy over the next 12 months, its chairman said on Wednesday.

"You can be assured that the economies of Europe, the U.S., Japan and China will not be good over the next year," chairman Morris Chang said at a business event.

"Economic security" should be top priority in Asia

KUWAIT, Oct 10 (KUNA) -- The scheduled 10th Asia Cooperation Dialogue got underway here on Monday under sponsorship of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, with the foreign minister of the host Gulf state stressing that "economic security" should top strategies of the Asian nations.

Speaking at the inaugural session, the Deputy Prime Minister and Foreign Minister Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah, expressed gratitude to HH the Amir for sponsoring "this crucial Asian event, saying in part, "Your sincere interest in the aspirations and affairs of the Asian nation will serve the causes of the peoples of Asia, and these issues will be included in the agenda of the meeting." Asian nations should seek to rise to the challenges and address issues of common interest. The extraordinary events happening in our nations warrant efforts that match the volume of these challenges, Sheikh Mohammad said, stressing that conferees should seek practical plans to meet aspirations of the Asian peoples.

China undermining economic recovery and U.S. security

Communist regime has erased 10 million U.S. jobs and stolen priceless intellectual property

With a fledgling economy the focus of the 2012 presidential campaign, there has been one glaring omission from the debate so far: the failure of our current trade policy, particularly with China. Trade policy affects national security by putting the safety of our people and their jobs at risk.

Cameron: 'Moment of danger' for global economy

David Cameron has said the world economy is at "a moment of danger" as a result of the eurozone crisis.

He told BBC political editor Nick Robinson there were "serious clouds on the horizon" and it was "absolutely vital" to stabilise the euro.

After that was done, he said, there must be "more on the growth front" in the UK to get the economy moving.

IMF Sees Higher Risks to Global Growth

A further slowdown in the U.S. economy and a deterioration in the euro-zone debt crisis pose potential risks to , which remains weak three years after the global financial crisis, a senior International Monetary Fund global economic growth official said Monday.

Deputy Managing Director Zhu Min said downside risks to the IMF's global economic growth projections have increased "as of late." The IMF two weeks ago slashed its forecasts, predicting global growth will slow to about 4% this year and next year from 5% in 2010.

Global economic weakness more persistent-BoE's Dale

The weakening of the global economy looks more persistent than first thought and the Bank of England may have to consider further monetary stimulus if the situation worsens further, the BoE's chief economist said in a newspaper interview.

Growth was slowing in Britain's main trading partners and the confidence of the country's exporters has taken a knock, Spencer Dale told the Daily Mail in an interview published on Thursday.

Bank of Israel Cuts Growth Forecast on Global Economy Risk

The Bank of Israel cut its forecasts for economic growth this year and next, citing increased uncertainty about the global economy and a decline in the rate of growth in world trade.

Uncertainty regarding the continuation of the global economic recovery increased significantly since the previous forecast was prepared, at the end of July, which was published as part of the Monetary Policy Report for the first half of 2011. Investment banks and international entities are revising their forecasts downward, under the assessment of an increased probability of a global recession, even if one not as strong as in 2008–09. In its September outlook, the International Monetary Fund (IMF) pointed to two developments on which it based these estimates.

Global Economy is Rebalancing Down; U.S. is Short-Funding Persistent Budget Deficit According to BNY Mellon's Hoey

LONDON and NEW YORK, Sept. 28, 2011 /PRNewswire via COMTEX/ -- The global economy is rebalancing down, as the stresses on the developed economies have increased. Odds therefore favor a global growth recession rather than a full-scale global recession, according to BNY Mellon Chief Economist Richard B. Hoey in his September 2011 Economic Update.

"The key to the global economic outlook is whether the resolution of the European financial stresses evolves in an orderly, semi-orderly or disorderly way," Hoey states. "We expect a semi-orderly pattern, which should be consistent with a global slowdown at a subdued pace rather than a full-scale global recession."

Global food security at risk: Thai rice subsidy could cause price turbulence

BANGKOK: A populist policy aimed at boosting the incomes of Thai farmers has raised fears of global rice price turbulence, and experts say the kingdom could just be hurting itself.

Thailand, the world’s biggest rice exporter, has vowed to boost the minimum price farmers receive by buying unmilled rice directly at 15,000 baht ($485) per ton from October. The current price is about 10,000 baht.

Global economic crisis threatens UK, says Balls

The UK economy faces a lost decade of economic stagnation due to the ‘deepening crisis’ in the world economy, shadow chancellor Ed Balls warned the Labour Party conference today.

He called on the government to implement a five-point plan to boost demand in the economy, including reversing January’s VAT rise and bringing forward more infrastructure development.

Global economy weekahead: From a soft patch to quicksand

The global economy was supposed to be better by now.

Just a few months ago, the prevailing wisdom was that growth was going through a "soft patch" caused by a combination of Japan's earthquake and unrest in the oil-producing Middle East. Once global supply chains got back to normal and oil prices receded, the second-half recovery could begin.

World powers seek to contain Europe debt crisis

WASHINGTON — Global finance officials pledged on Saturday to take bolder moves to confront a European debt crisis that threatens to plunge the world into another deep recession. But sharp disagreements about exactly what to do can't offer much reassurance to markets rocked by uncertainly in recent weeks.

The United States and other countries outside of Europe fear the economic fallout at home from the European crisis. They are raising the pressure on Europeans to settle their differences and agree on a plan to rescue heavily indebted European countries.

Finance ministers seek global economic solutions

The European debt crisis threatening the global economy with recession kept finance ministers and central bankers busy seeking ways to reduce the risk of events tumbling out of their control.

Under pressure from skeptical financial markets to produce results, the ministers sought to push forward with a program in which the Group of 20 major economies take steps to achieve their ambition of strong, stable balanced growth while wavering over helping Greece avoid a destabilizing default.

IMF Head: Downside Risks To Global Economy 'Piling Up'

WASHINGTON (Dow Jones)--Downside risks to the global economy are compounding, creating a crisis of confidence in markets around the globe, the head of the International Monetary Fund warned Friday.

"The bad news is that there are downside risks on the horizon, and they are piling up," IMF Managing Director Christine Lagarde told finance ministers and central bankers at the IMF and World Bank's fall meetings.

Kudrin Says Global Economy Faces a ‘Lost Decade’ of Slow Growth

The global economy is facing a decade of slow growth that will make it harder for countries to service debts, Russian Finance Minister Alexei Kudrin said.

“The expectation now is that growth will be weak for three to 10 years,” Kudrin told reporters late yesterday in Washington. “We’re in for a lost decade. It’s already clearer that growth rates will be low and that the fight to keep growth from dying out will take many years. Most likely, about five to 10 years.”

Britain's FTSE plunges on fears over global economy

LONDON, Sept 22 (Reuters) - Britain's leading shares were sharply lower across the board on Thursday, tracking hefty falls on Wall Street and in Asia after the U.S. Federal Reserve gave a downbeat assessment of the economy, saying it faced "significant downside risks".

The Fed's cautious comments came as it, as expected, unveiled fresh economic stimulus measures, dubbed "Operation Twist" by the financial markets, which will see it buy more long-term Treasury securities in an effort to lower borrowing rates.

Brazil Warns A Global Economic Crisis Devastating For All

Brazil's President Dilma Rousseff has warned that a full blown economic crisis could be devastating for emerging countries as well as for the world's largest economies.

She added that the global financial situation could also cause a "serious rupture." when speaking at the UN General Assembly in New York.

Euro-Zone Bonds Would Aid Global Economic Stability - CEPR

LONDON -(Dow Jones)- A group of leading economists Monday backed the issuance of euro-zone bonds, not as a way of resolving the currency area's fiscal crisis, but as way of making the global monetary system more stable.

In a report published by the Center for Economic Policy Research, the economists also recommended that swap agreements between leading central banks be made permanent, that the International Monetary Fund be allowed to borrow in the bond markets to boost its lending capacity, that foreign exchange reserves be pooled, and said capital controls should be used to curb "excessive and volatile" investment flows to developing economies.

Brazil's Tombini Urges Global Economic Coordination To End Crisis

LISBON -(Dow Jones)- Central Bank of Brazil President Alexandre Tombini Monday gave a strong warning to matured economies that unless they coordinate efforts to control the sovereign-debt crisis, the global economy will head toward a severe slowdown.

"The economic scenario is extremely complex, and if we don't do anything, it will deteriorate further in the next months," Tombini said at a conference of central banks of Portuguese-speaking countries.

BI prepares measures to anticipate slowing growth

The central bank is preparing a number of measures to anticipate a global economic slowdown triggered by the recent US and European debt crises, as Indonesia gears up to feel the impact next year.

Among the measures are the formation of the Financial System Security Network, the formulation of a crisis management protocol and the strengthening of the ASEAN+3 cooperation, Bank Indonesia (BI) leading researcher Suhaedi said on Tuesday in Jakarta.

Why China would love ‘President Rick Perry’

SAN LUIS OBISPO, Calif. (MarketWatch) — China must be secretly rooting for a guy like Rick Perry as the next U.S. president. They’d love competing against an America led by another Texas governor who talks from a big hat, loves war spending and tea parties, thinks the Fed chairman is acting “treasonous,” believes Social Security is a “Ponzi scheme” and admits he’s an antiscience, antievolution, anti-intellectual who will turn back the clock to the 19th century frontier Wild West.

Yes, China’s rooting for a guy who will not only make Washington “inconsequential” for all Americans, he’ll make America “inconsequential” in a world where China knows that its competitive edge and economic growth all hinge on investing in science, innovation and intellectuals with a vision of the future.

Japanese PM vows to tackle fiscal mess, revitalize quake-hit regions

TOKYO, Sept. 13 (Xinhua) -- Japanese Prime Minister Yoshihiko Noda said on Tuesday his government's primary focus is on revitalizing regions devastated by the March disasters and rescuing the nation from its dire financial predicament.

In his first major policy speech given at a special session of the Diet in Tokyo, Noda, Japan's third prime minister in two years, struck an emotional chord, vowing to deliver a watertight strategy by the end of this year to kick start the nation's sluggish economy and enhance restoration efforts in the wake of the March disasters that pummeled key infrastructures and left 20,000 people dead or unaccounted for.

Lower economic growth forces down IEA oil demand projections

Dimmer global economic growth assumptions and lower-than-expected oil demand during the third quarter in developing countries have driven down expected worldwide oil demand growth, according to the International Energy Agency’s latest monthly Oil Market Report.

However, stronger-than-expected oil demand in the developed countries of the Organization for Economic Cooperation and Development (OECD), mostly in the US, as well as power generation demand in Japan, anticipated Libyan demand recovery, and demand strength in the Middle East offset some of the demand weakness, IEA said.

Stocks flat, euro slips on economic worries

NEW YORK: Global stocks were little changed and the euro fell on Thursday as worries over worsening economic conditions in Europe and the United States clamped down appetite for riskier investments.

Nervous investors piled back into gold, German and US government bonds and other assets perceived as safe havens.

Geithner: Global economy threatened by politics

The biggest problem facing the global economy is not economic but political, according to Treasury Secretary Timothy Geithner.

In an op-ed to be published Friday by the Financial Times, Geithner argues that "political paralysis" is the biggest threat to continued economic recovery, and calls on policymakers both domestic and abroad to step up to the plate.

U.S. Stocks Plunge on Global Economic Fears

The Dow Jones Industrial Average plummeted as low as 300 points this morning as Europe's debt crisis thickens and the U.S. service industries continues its anemic growth. The Standard & Poor's 500 Index has fallen for a third day today, down 2.5 percent. CNN Money emphasizes the economic woes in Europe:

Stocks in Europe were also under pressure. The DAX in Germany fell 1.3% and France's CAC 40 was down 1.3%. Britain's FTSE 100 held modest gains. European markets plunged Monday amid ongoing worries that unresolved debt problems in Greece may be spreading to larger nations such as Italy and Spain.

World Bank, China Advance Work on China Economy’s Future

The FINANCIAL -- BEIJING, September 5, 2011 – China and the World Bank are making significant progress on a joint report on how the world’s second largest economy can move to a path of sustainable growth in the face of today’s challenging global economic situation, said World Bank Group President Robert B. Zoellick.

Commenting in Beijing on a weekend workshop with senior Chinese officials and outside experts, Zoellick said there was agreement that China would have to rebalance its economy, improve the environment, reduce inequality and advance the quality of life for its people while at the same time maintaining rapid growth.

Stocks Poised for Worst Month on Growth Woes: Israel Overnight

Israeli shares traded in New York are heading for their worst month on record on concern global economic growth is faltering and the Palestinian Authority’s quest for statehood may destabilize the country.

The Bloomberg Israel-US 25 Index of the largest Israeli companies that trade in the U.S. retreated 0.2 percent to 85.48 yesterday, extending its August drop to 13 percent, the worst monthly performance in data going back to September 2005. SodaStream International Ltd. (SODA), the maker of machines that carbonate water, led the gauge’s decline, falling 50 percent after its profit forecast trailed estimates. Teva Pharmaceutical Industries Ltd. (TEVA), the world’s largest maker of generic drugs, dropped 13 percent on concern new products won’t boost sales.

Canada’s economy hit by global turmoil

Canada’s economy shrank in the second quarter for the first time since the 2008-09 recession owing to a sharp deterioration in the foreign trade balance.

Statistics Canada reported on Wednesday that gross domestic product dipped at an annual rate of 0.4 per cent, adjusted for inflation, compared with 3.6 per cent growth in the first three months of the year.

Norway's 2 oil finds will bolster fiscal security

While much of Europe is pinching pennies to pay its way out of the debt crisis, Norway has been awash with cash and is set to get more. Two major oil finds are revitalizing the country's aging energy sector and promise to buoy it through the downturn looming over the global economy.

Although headlines this summer have been predicting economic gloom - a flareup in Europe's debt problems, falling bank stocks, another recession in the United States - Norway has weathered the bad news.

US and Europe in the Same Boat

S&P's downgrade of US credit brought the country's debt problem to the forefront, but the US is not alone; the euro crisis is flaring up again along with concerns over European banks.

For the first time in US history, the US credit rating was downgraded on August 5. Coming on the heels of the steepest stock-market drop since the 2008 financial crisis, it was a big blow to an already fragile financial system.

Media pressure may help speed up food security moves

More than two years have passed and there seems to be no progress worth speaking about in making the promised law that will guarantee food for the people. The promise came from the UPA-2 as part of its election manifesto in 2009. It was a time of recovery from a time of economic troubles. The impact of the global economic slowdown came on top of the agrarian crisis and the closure of several industrial undertakings, resulting in the loss of jobs and wage cuts that impoverished thousands of workers.

Glencore confident on outlook after maiden interims

Glencore (LON:GLEN), the miner and world’s commodities trader, yesterday posted very healthy first half profits despite a tricky trading environment over the period. Analysts at Citi are content with the group’s first set of result since its massive IPO in May and remain positive on its shares.

The Switzerland-based commodities group reported a 57% rise in first-half adjusted net income to $2.45 billion on sales ahead 32% to $92.12 billion.

Analysts at Citi say the “credible” interim performance was in line with their expectations at both the revenue and earnings before interest and tax (EBIT) level.

Chile Weathering Global Slump With 5% Growth in 2012 as Spending Increases

Chile, the world’s biggest copper producer, is poised to shrug off a global economic slowdown and generate growth of more than 5 percent next year, topping analysts’ estimates, Finance Minister Felipe Larrain said.

The government of President Sebastian Pinera aims to average 6 percent annual growth over its four-year term and is developing 2012 forecasts that point to an expansion of 5 percent or “somewhat” more, Larrain, 53, said yesterday at the Bloomberg Chile Economic Summit in Santiago. The government is establishing a financial stability council made up of central bank and government experts to better coordinate economic oversight as global risks mount, Larrain said.

LatAm, Asia leaders to boost cooperation

Leaders at a gathering of nations from Latin America and Asia, including Australia, has called for closer economic cooperation to help combat the global financial crisis.

Argentine Foreign Minister Hector Timerman kicked off Thursday's gathering by underlining 'the need for concrete actions to strengthen biregional political and economic ties'.

How imminent is China's global economic dominance?

More and more people in the United States are increasingly concerned about, even obsessed with, the emerging global economic dominance of China, which is also regarded by many around the world as the most important single global economic issue.

Global arms exports track global economy's double dip

by Thomas P. M. Barnett

It's interesting to think back to the start of the global economic crisis, when there were a lot of assumptions voiced about how a rising quotient of international tension would inevitably morph into more conflicts and thus more traditionally focused defense spending – i.e., great powers hedging against one another versus, say, non-state actors or state failure. If we were on the verge of the second Great Depression, then certainly we'd find ourselves in a 1930s-like march toward significant great-power struggles, yes? With the Arab Spring providing the tinder for a great-power free-for-all?

G4S looks to secure EM business

Here is another British company that is increasing its bet on emerging markets. With 29 per cent of group revenues already coming from EM, security company G4S on Tuesday set a target of 50 per cent by 2018.

With 625,000 staff already on its books, we will be seeing a lot more of those black-uniformed security men with the G4S logo on their chests in India, China and Middle East.

Water crisis, population surge prompt rethink on food: UN

Stockholm: Population growth and water stress are driving Earth to a food and environmental crunch that only better farming techniques and smarter use of the ecosystem will avert, a UN report issued today said.

The number of humans is expected to rise from seven billion in 2011 to at least nine billion by 2050, boosting demands for water that are already extreme in many countries and set to worsen through global warming.

Fate of China-US relations

By Tong Kim

American Vice President Joe Biden’s visit to China last week provided a glimpse of a critical juncture in Sino-American relations, which, if not properly handled, may unravel the international economic order put in place under U.S. stewardship that has worked well to benefit the world as a whole for the past half a century.

Biden told his Chinese counterpart Xi Jinping, who is expected to succeed President Hu Jintao next year, “Fifty years from now, 100 years from now, historians and scholars will judge us based upon whether or not we’re able to establish a strong, permanent and friendly working relationship.” He also said a close relationship and cooperation between U.S. and China “is the key … to global economic stability.”

Canada Dollar Falls on European Debt Crisis, Slower U.S. Economic Growth

Canada’s dollar fell for a fourth week versus its U.S. counterpart in the longest losing streak since June amid concern global growth will falter as the American economy stalls and Europe’s debt crisis worsens.

The loonie, as the currency is nicknamed, dropped against 13 of its 16 most-traded peers as crude oil, Canada’s biggest export, tumbled for a fourth week. Yields on Canada’s 10-year bonds touched a record low as economists cut forecasts for growth in the U.S., the nation’s biggest trade partner. Retail sales in rose 0.6 percent in June, data next week may show.

Mideast Bonds Rise as Investors Seek Haven From Europe Crisis: Arab Credit

Middle Eastern sovereign bonds are rallying for a second month as economic growth and cash-rich banks lure investors seeking shelter from Europe’s debt crisis and the U.S. economic slowdown.

Schroder Investment Management Ltd., Abu Dhabi Commercial Bank PJSC and Fideuram Asset Management Ireland Ltd. predict the rise, fueled by Persian Gulf borrowers and Lebanon, may continue. The average yield on the region’s notes declined 17 basis points, or 0.17 percentage point, this month to 4.67 percent, the lowest since November, the HSBC/Nasdaq Dubai Middle East Conventional Sovereign US Dollar Bond Index shows. Rates on emerging-market government debt fell three basis points to 5.64 percent on Aug. 17, data compiled by JPMorgan Chase & Co. show.

Biden in China: Ties are key to global economic stability

By Keith B. Richburg

BEIJING — Vice President Biden on Thursday began a four-day get-to-know-you mission here as the guest of his Chinese counterpart, stressing the importance of the two countries working together to combat the global economic crisis.

But the trip, carefully choreographed by Chinese leaders, got off to an awkward start when Chinese security officials forcibly shoved foreign journalists out of the conference room before Biden had finished making his prepared remarks in his meeting with Vice President Xi Jinping.

Winners and losers in a time of a global economic crisis

Amid all the excitement of the stock market swinging around like something out of The Jungle Book and looters roaming the streets, the most common question that I have been asked over the past few weeks is "what does it mean for my bank balance?"

Reports of billions being wiped off global stock markets are very frightening, but the crisis is not one that affects everyone equally. Depending on what stage of life you are at, the events of the past few weeks will have a very different effect on your quality of life. The following guide should help you to assess the damage (and the bright side), and help you understand what to do about it.

The EU should kick Britain out

Few countries need a reality check as much as Britain. Leading British political figures are still rattling their sabres and demanding that the UK withdraw from the EU. And a recent poll showed that 50% of the British public want out as well. But, looking at Britannia's performance in recent years, a case can be made that the EU shouldn't wait for Britain to leave: it should kick Britain out instead. The UK has been more destructive to Europe than has Greece. Let's look at the record.

Harper signs deals on air travel, pensions with Brazil

Prime Minister Stephen Harper and Brazilian President Dilma Rousseff signed on Monday, a trade agreement meant to give airlines more flexibility and provide expats with continuous social security benefits.

“Brazil is a major global economic player and a key priority market for Canada,” Harper said in a statement. “These agreements will benefit both countries by promoting greater two-way flow of people, goods and services, enhancing our competitiveness and further strengthening our partnership in key areas of shared interest.”

Many countries globally are facing same economic woes as Uganda

THERE are people who do not want to hear that the economic challenge Uganda is facing is actually part and parcel of a global phenomenon. No surprise here; for they might as well deny that the sun does not shine at night.

The reality is that no country in the world had fully recovered from the global economic crisis that hit in 2008. As I write this, the richest economy in the world, the United States has lost its top notch ‘Triple A’ credit rating from Standard and Poor’s in a dramatic reversal.

Global debt concerns lead investors to flee to gold as safe haven

Despite the US Senate coming to an agreement yesterday on raising the debt ceiling and confirmation from credit agencies that the US will not lose its triple-A rating for the time being, stock markets around the globe fell yesterday and investors sought the security of gold.

The precious metal, seen as a sanctuary for investors in times of economic uncertainty, hit another high, peaking at $1,670 an ounce. In addition to concerns about the US economy, investors are worried that eurozone difficulties could intensify further.

IMF: US Debt Deal First Step To Healthy Finances, Avoids Economic Chaos

WASHINGTON (Dow Jones)--The International Monetary Fund said a deal to raise the U.S. debt ceiling is an important first step that averted global economic calamity and helped to reassure markets.

"Raising the debt ceiling means a severe economic disruption has been avoided, and the accompanying deficit reduction deal is an important step toward fiscal consolidation," IMF Managing Director Christine Lagarde said in a statement after the president signed the budget deal into law.

Global economy jitters as US debt debacle lingers

For the first time in its history America faces prospect of bankruptcy and a potential crash of the global economy as US law makers continue to bicker over the raising the cap on the borrowing limits of the US Treasury.

With the Tuesday deadline of a possible default looming, Americans yesterday reacted angrily with phone calls to their representatives in Washington in response to President Barack Obama’s nudge to Americans to call their representatives to order.

China Scolds U.S. for Politicizing the 'Dangerous' Debt Talks

China's state-controlled media agency Xinhua published a scathing editorial on the U.S. debt talks, illuminating the nation's fear that American default will hurt the global economy.

The newspaper criticized lawmakers in the United States for stalling and letting politics stand before its economic future, calling the talks "dangerously irresponsible" and a "game of chicken."

Double-Dip Scare

The latest GDP numbers show the U.S. is in a cyclical downturn.

And now a double-dip scare is upon us, as first quarter results were revised down to stall speed of 0.4%. The second-quarter came in worse than expected at 1.3%.

Those numbers could get revised again into negative territory, meaning, we could now be in a double dip.

Once the Debt Ceiling Is Hiked, Markets Have to Confront Slower Growth

The woes besetting the global equity markets will remain after the contrived crisis over the U.S. debt ceiling is settled.

Global economic growth is slowing, as indicated by the slide in stock prices from Sydney and Shanghai to European bourses and back to New York. Industrial companies are corroborating the message of economic data that the much hoped-for second-half economic rebound will fall short of the hype.

Gold price seen rising further by African Barrick Gold

FTSE 100 miner African Barrick Gold expects the price of gold to continue rising because of global economic uncertainty.

The company, the largest producer of the metal in Tanzania, said gold's attraction as a safe haven for investors means prices will grow further despite already clearing record levels of $1,600 per ounce.

CN Rail shares slip on global economic worries

VANCOUVER (Reuters) - Shares of Canadian National Railway Co (CNR.TO: Quote) slid more than 3 percent on Tuesday on concerns about a potential slowdown in global economic growth along with profit-taking after a rally by its stock this year.

The slide came a day after CN Rail, Canada's biggest railroad, reported better than expected second-quarter results, despite difficulties including floods in Western Canada, forest fires and mudslides.

Evan A Feigenbaum: Who will win as China's economy changes?

China has unsettled its neighbours with naval displays and diplomatic spats. But could erstwhile Asian strategic rivals end up as big winners from China’s economic success?

In one sense, at least, Asian economies are already winning from Chinese growth — slack global demand has meant that China increasingly powers the growth of nearly every major economy in Asia.

Cracks appear in China's economic model: analysts

by Boris Cambreleng

BEIJING, July 24, 2011 (AFP) - As the United States and Europe struggle with debt crises, China's economy appears in robust health, but analysts say its growth model is too dependent on investment and cannot be sustained.

Sitting on foreign exchange reserves worth nearly $3.2 trillion and with breakneck growth of 9.5 percent in the second quarter, the world's second largest economy appears to have breezed through the global financial crisis.

China-Based Spies Said to Be Behind Hacking of IMF Computers

Investigators probing the recent ransacking of International Monetary Fund computers have concluded the attack was carried out by cyber spies connected to China, according to two people close to the investigation.

Computer specialists have spent several weeks piecing together information about the attack, which the IMF disclosed on June 8. Internal IMF e-mails obtained by Bloomberg News suggest fund officials completed an inventory of stolen documents by the middle of July, and drafted an “operational impact assessment.” The results have not been made public.

Global oil stocks release seen on halt for now

(Reuters) - Developed nations are unlikely to release more oil on to the market in coming days, a month after the first release failed to curb oil prices to help protect the global economic recovery, officials and analysts said.

The energy watchdog for industrialized nations, the International Energy Agency, shocked oil markets last month by announcing a release of 60 million barrels of oil and products to offset the loss of Libyan production.

US debt impasse a global issue

The political deadlock in Washington on whether and how to increase the United States’ debt limit is causing anxiety over a possible default and the consequent global economic downturn.

THE deepening of the Eurozone debt crisis last week through contagion, spreading to Italy, was more than matched by the growing chance that the US government would not be able to pay its bills or service its debts starting Aug 2.

Enhancing Pakistan’s Energy Security

With an economy highly dependent on energy imports, Pakistan’s energy security challenges are a liability that is exacerbating the country’s already poor governance record. However, mounting domestic pressures and the global economic rebalancing led by China and India could provide the impetus for Pakistan to emerge as a more responsible energy stakeholder.

Trichet Urges More Regulation

AIX-EN-PROVENCE, France—The global economy is still fragile and more work needs to be done in terms of strengthening economic governance in the European Union and coordinating policies among its 17 members to avoid future crises, European Central Bank President Jean-Claude Trichet said Sunday.

"The major revelation of the last four years was the fragility of the global economy," Mr. Trichet told the Rencontres Economiques d'Aix-en-Provence conference. "Strengthening resilience is absolutely essential given the fragility exhibited by the global economy."

White House, GOP Still Playing Chicken over Debt Ceiling; Pawlenty Slams Bachmann

Sessions: Lawmakers Will Need Time to Look at Any Deal
 
Senate Banking Committee ranking member Jeff Sessions echoed Treasury Secretary Timothy Geithner’s comments that while August 2 may be the nation’s default date, the time to make a deal on raising the debt ceiling is much sooner.

“We’re not just going to ratify some secret deal even if our good leaders plop it down on the floor of the Senate; we need at last seven days to review something as historic as this,” the Alabama Republican said on CBS’s Face the Nation.

Top 5 Reasons for Angst Among the Wealthy

Pessimism about global economic climate and U.S. economy abounds

Wealthy Americans today are worried about the global political and economic climate and the long-term health of the U.S. economy, according to a survey by Insite Security and IBOPE Zogby International.

Insite released a white paper on Wednesday, detailing the results of a survey of some 300 U.S. high-net-worth adults on their post-recession attitudes toward the economy, politics and style of life.

Will America's budget deficit bring an end to world peace?

Did you know that the U.S. still stations nearly 50,000 troops in Japan? That's pretty amazing when you think about it. The war in the Pacific ended 66 years ago, and there hasn't been a conflict in Northeast Asia since the Korean War of the early 1950s, but America still maintains a hefty military presence in the area. Another bunch of soldiers are parked nearby in South Korea. Why in the world are all those soldiers still there?

Rs 42,000-cr foreign funds for NGOs in last 5 years

Indian Non-Governmental Organisations (NGOs) have received Rs 42,200 crore from foreign donors in the last five years, more than what the central government had spent on the world's largest social security scheme Mahatma Gandhi National Rural Employment Guarantee Scheme in 2009-10.

The global economic recession does not seem to have had an impact on foreign contributions as funding increased from Rs 6,700 crore in 2004-05 to over Rs 10,900 crore in 2009-10.

Global entrepreneurship: Crisis? What crisis?

While we in the West continue to be anxious about the pace of the economic recovery, from China, India and Indonesia all the way to Sub-Saharan Africa, the excitement of a new generation — no longer hamstrung by the economic, technological and personal limitations of their parents’ generation — is palpable.

Masked underneath all the talk about the global financial crisis, an even bigger phenomenon is at play, one that in due course will overpower the memory of the current crisis. That phenomenon is the true unleashing of the global entrepreneurial capabilities of the bottom half — or, rather, two-thirds — of humanity. It is boom time in “Global Entrepreneurland.”

OECD warns of future unrest in the global economy

Pandemics, cyber attacks, financial crises, civil unrest and geomagnetic storms - these are the five “global shocks” that could destabilise the global economy, according to a new report by the Organisation for Economic Co-operation and Development (OECD).

In its latest revelation, the Paris-based international economic organisation of 34 advanced nations warns that those disruptive shocks are likely to occur with increasing frequency and cause greater “economic and societal hardship” to the international community.

Global economic recovery slips into lower gear as industrial activity dips

The manufacturing boom that has spurred the global recovery of the last 18 months dropped into a lower gear last month as the UK, the eurozone and China registered a significant drop in growth.

Britain's manufacturing sector expanded at the slowest pace in nearly two years while the eurozone, dragged down by Italy and slowing Germany activity, fell from 54.6 points in May to an 18-month low of 52 in June.

Analysis - Policy-making gets harder in wake of global credit

Greece's latest austerity steps have squeaked through parliament, avoiding an imminent default. Politicians in Washington may manage a similar last-minute trick later this year to raise the U.S. sovereign debt ceiling, allowing the United States to continue borrowing.

But almost wherever you look in the wake of the global financial crisis of 2007-2009, widening domestic and international faultlines -- including those between political elites and the people they rule -- are making economic policy-making a more anguished process.

Risk of global 'shocks' has increased, says OECD

The complex network of connections linking the world together leaves the global economy highly exposed to natural and man-made disasters, according to a new report from the influential think-tank the Organisation for Economic Co-operation and Development (OECD).

Can Global Economic Policy Be Freed From Its Paralysis?

The Bank for International Settlements in Switzerland has just published its annual report, and it is a dour document. The BIS (as it’s known) was created in 1930 to handle post-World War I reparation payments from Germany to Britain and France. The Great Depression ended reparations, and now the BIS provides—among other things—sober commentary on the global economy. Its latest report oozes foreboding.

BP report shows economic growth still depends on oil

The relationship between energy and global economic growth has never been clearer than in BP’s World Energy Statistical Review for 2010. No sooner had the global economy shook off the shackles from the last recession than energy demand exploded. It grew by more than 5.5 per cent last year, the largest annual increase in more than 30 years.

Not surprisingly, oil played a centre stage role in last year’s spectacular increase in global energy demand. It is, after all, the world’s single most important fuel, accounting for more than a third of all the global energy produced last year. What makes last year’s global oil numbers particularly interesting is the fact world oil demand had fallen in the two previous years - a victim to the global recession. They were the first annual declines in global annual oil consumption since 1983.

Roller-coaster ride for global economy

THE past six months have been a roller-coaster ride for the global economy with US growth concerns, inflation worries and the euro-zone debt crisis affecting investor confidence.

Besides these factors, the tsunami, earthquake and nuclear plant crisis in Japan have also dampened sentiment.

While the overall outlook was generally gloomier than last year, some glimmer in the flow of macroeconomic data inevitably would see investors betting that the worst is over.

Oil little changed, markets assess global economy

NEW YORK (AP) — Oil settled slightly higher Friday as investors weighed the latest economic data and the planned release of 60 million barrels of oil onto the world market.

Benchmark West Texas Intermediate crude for August delivery rose 14 cents to settle at $91.16 per barrel on the New York Mercantile Exchange. In London, Brent crude, which is used in many international blends, fell $2.14 to settle at $105.12 per barrel on the ICE Futures exchange.

KKR Hires Morgan Stanley’s Henry McVey to Advise on Macro-Economic Trends

KKR & Co., the leveraged-buyout firm led by Henry Kravis and George Roberts, hired Morgan Stanley’s Henry McVey to advise it on macro-economic trends.

McVey, who will be head of global macro and asset allocation, will help KKR and its clients assess global economic issues across the firm’s businesses, including private equity and hedge funds, New York-based KKR said today in a statement. Cyril Moulle-Berteaux, a founding partner of hedge fund Traxis Partners LP, is replacing McVey as head of the global asset- allocation team at Morgan Stanley, the New York-based bank said in a separate statement.

BOJ's Morimoto warns of global risks, upbeat on output

Global economic risks have heightened somewhat following a slew of weak U.S. data but not enough to affect the outlook for Japan's economy, a Bank of Japan policymaker said, reinforcing views that the central bank will remain on hold in the near term.

Yoshihisa Morimoto also repeated the central bank's view that Japanese output and exports will return to levels seen before the March 11 disaster in the third quarter, as companies make steady progress restoring supply chains.

Dr. Alexander Mirtchev Discusses the U.S. Government's Measures to Deal With the Global Economic Crisis and Stresses the Imperative for Viable Exit Strategy on the Riz Khan Show

Dr. Alexander Mirtchev, founder and president of Krull Corporation, discussed the U.S. government's actions in response to the crisis in the economy on Al-Jazeera's Riz Khan Show. The complexities created by the precarious economic and financial situation are exacerbated by what is perceived as a "failure of the reigning 'social contract'" between Main Street, Wall Street and the U.S. government. "To put it simply, Main Street was relying on Wall Street to go about its business, with the government perceived as the arbiter and even guarantor of sure returns. Presently, the collapse of this 'contract' is giving rise to calls from different quarters for overhauling the whole system," according to Dr. Mirtchev.

Cooperation to form 'economic pole' among neighbor countries

BRUSSELS - Increasing cooperation between China, Russia and Central Asia is forming a global economic pole and will benefit countries throughout Europe and Asia, said European observers.

They made the comments during Chinese President Hu Jintao's tour of Kazakhstan, Russia and Ukraine, which they said would substantially enhance the three nations' geopolitical and economic ties with China.

"Robust and stable regional cooperation will bring benefits to the rest of the Eurasian countries," David Fouquet, director of the Europe-Asia Network in Brussels, told China Daily.

China and allies back Russia against U.S. missile shield

Russia won the backing of China and other members of a regional security body in criticizing U.S. plans for a missile shield, saying on Wednesday it could undermine global security.

The Shanghai Cooperation Organization (SCO), a security bloc grouping Russia, China and four ex-Soviet Central Asian states, signed a declaration condemning any unilateral build-up of missile defenses after their leaders met in the Kazakh capital.

Opportunities for Africa from the global economic crisis

The recent global economic crisis has provided us in Africa with an opportunity to review how we do business and think about the future, a future that needs to be grounded in fairness, integrity and sustainable development as opposed to greed and cronyism that has all too often been the case in the past. I believe that a key factor for the future will be the role played by the private sector on the one hand and how Governments set the playing field for investment on the other. This latter point requires strong political leadership.

Infosecurity Experts Unite to Create Global Cyber Security Research Agenda

The information security industry has often been criticised for its reluctance to unite and work together. At the inaugural World Cyber Security Technology Research Summit, held at Queen's Centre for Secure Information Technologies (CSIT) in Belfast in March, however, this is exactly what many cybersecurity experts did.

Cyber security experts and government policy makers from around the world gathered at Queen's University Belfast to develop and agree the first ever collective global technology research strategy to counter cyber terrorism.

Asia talks up super ambitions

A LEADING Asian official has talked up the region's future but admitted there are big, hurdles to overcome.

Indonesia's President Susilo Bambang Yudhoyono said Asia could be "the continent of the future" but must first confront the challenges of rising demand for food, energy and water.

Speaking at the start of a two-day World Economic Forum on East Asia, an event drawing political leaders and industry chiefs from across the region, Yudhoyono said Asia's growth will put it at the heart of the global economy.

Destruction of U.S. Manufacturing: The Unusual Suspects (Guest Post)

By Andrew Butter

If you want to know the real “culprits”, have a look at this chart:


The blue line is US Employment in Manufacturing (from the St Louis Fed), the purple line is the cumulative amount of money that Americans (mainly US Corporations) invested in projects outside of USA, instead of inside USA; (from the BEA time series on International Transactions Line 51).

Chile Stocks Close Lower On Global Economic Health Jitters

SANTIAGO (Dow Jones)--Chile's blue-chip Ipsa index ended lower Friday, tracking slumping U.S. markets as worries about global economic health returned to the forefront.

The Ipsa closed 0.5% lower at 4737.51 points, while market volume decreased to 137.5 billion Chilean pesos ($294.0 million) from CLP145.8 billion in the prior session.

Trading in financial services group Grupo Security (SECURITY.SN) accounted for 30% of volume after the company sold 181.1 million shares and raised $842 million through a capital increase.

Are we prepared for a multipolar economy?

WASHINGTON — At a time when the global economy is suffering from a crisis of confidence, structural imbalances, and subdued growth prospects, looking ahead 10 years to predict the course of development requires careful modeling and something beyond sagacity. What is needed is a multifaceted approach that combines a sense of history with careful analysis of current forces such as the shift in the balance of global growth toward the emerging world.

Fact Sheet: U.S.-German Global Economic and Development Cooperation

The United States and Germany share global economic goals, from addressing financial reforms to development and food needs worldwide. Reinforced through strong bilateral economic and political ties, we also cooperate in fora such as the U.S.-EU Transatlantic Economic Council, the G-8 and G-20. We work together to advance energy security and efficiency and to address environmental concerns while promoting policy measures to benefit emerging economies and sustainable practices worldwide. The United States and Germany look to increase bilateral cooperation through:

UN Secretary-General Ban announces to seek second term

UNITED NATIONS (BNO NEWS) -- United Nations Secretary-General Ban Ki-moon on Monday announced his intention to run for a second term as UN chief and said he would be "deeply honored."

"It has been an enormous privilege to lead this great Organization. If supported by the Member States, I would be deeply honored to serve once more," said the UN Secretary-General

Is this the Asian century?

Last month, the Asian Development Bank (ADB) released a report in its annual meeting held in Vietnam entitled "Asia 2050 -- realising the Asian century." In a breath-taking sweep of economic trends and visions it describes two possible scenarios -- first an "Asian century," which is expected, and the other a "Middle income trap."

ADB prognosticates that Asia's rise this century would be led by seven countries. They are India, China, Indonesia, Japan, Korea, Malaysia and Thailand. In 2010, these seven economies had a total population of 3.1 billion (78% of Asia) and a GDP of $14.2 trillion. But by 2050, these seven economies alone will account for 45% of the global GDP.

The Greatest Depression Has Only Begun

The greatest depression in human history is still in its starting stages. What the media and many officials often refer to as the "hangover" from the global financial crisis is in fact the end of the beginning. Originating in 2008, the global economic crisis took the world by storm: banks collapsed, the "too big to fail" became bigger by consolidating the rest, governments bailed out their financial industries, masses of people lost their jobs, the 'developing' world was plunged into a deep systemic crisis, food prices rose, which in time spurred social unrest; and the Western nations that took on the bad debts of the big banks are on the precipice of a great global debt crisis, originating in Europe, hitting Greece and Spain, but destined to consume the industrialized world itself. Though many claim that we are in a "recovery," things could not be further from the truth.

Russia frets over Eurasian domino theory

By Yong Kwon

Post-Soviet Russia has been consistently perceived as anti-American. Despite several shifts in Moscow's foreign policy during the past two decades, the Kremlin's opposition to North Atlantic Treaty Organization (NATO) operations in former Yugoslav republics, its war with Georgia and the recent protest against military action in Libya have all been attributed to Russia's designs to leverage its influence against the West.

Gates Discusses Bolstering Asian Security

SINGAPORE — Faced with a future of significantly reduced military spending, the United States should pursue a program of “cost effective” cooperation with Asian allies to defend regional security and enhance American interests, Defense Secretary Robert M. Gates said Thursday.

Mr. Gates, who arrived in Singapore on Thursday for an address at an Asian security conference, underscored the vast scope of challenges to regional stability, like natural disasters and an ascendant China.

Indonesia should cross the river by feeling for stones

In mid-November of 2011, Indonesia will host the sixth East Asia Summit (EAS) in the newly built Nusa Dua Convention Center in Bali.

Based on the Kuala Lumpur Declaration of 2005, this year’s summit will continue to be a forum for dialogue on broad strategic, political and economic issues to promote “common security, common prosperity and common stability”. The EAS is welcoming two new members — the US and Russia — into the East Asian community.

Oman is among most peaceful countries

The Global Peace Index (GPI) report published yesterday by the Institute for Economics and Peace (IEP) puts the Sultanate of Oman on fourth position in the Arab region and 41st among the 153 world countries.

The GPI is the world’s leading measure of global peacefulness. It gauges ongoing domestic and international conflict, safety and security in society and militarisation in 153 countries by taking into account 23 separate indicators.

Obama stresses increased British-U.S. cooperation

President Obama called for a new chapter in the long history between the United States and Britain, saying Wednesday that global economic, military and climate challenges require "remaking ourselves to meet the demands of a new era."

Even as he spoke of how much the world has changed since the allies emerged victorious from World War II, Obama told a joint session of Parliament that U.S.-British cooperation - in military, diplomatic, economic and humanitarian efforts - remains essential to ensuring global security.

Barack Obama to stress importance of special relationship to global security in speech at Westminster Hall

Barack Obama will insist the US-UK alliance is key to providing global security after a ''difficult decade'' today as he gets down to the real political business of his state visit.

The US president and Prime Minister David Cameron are to spend the morning holding in-depth talks on issues ranging from the military campaigns in Libya and Afghanistan to the Middle East, terrorism and global economic reform.

Global economic situation is far from easy: PM

India on Tuesday dubbed as "outmoded and under stress" the global institutions of governance in the face of new challenges like food and economic security and pitched for closer cooperation among developing countries.

"The current international economic political situation is far from easy, particularly for developing countries," Prime Minister Manmohan Singh said addressing the Second Africa-India Forum Summit being attended by 15 African countries.

Anne Sinclair's millions keeping accused rapist husband Dominique Strauss-Kahn out of jail

Dominique Strauss-Kahn better hope his long-suffering, third wife stands by her man as it's her fortune bankrolling his freedom.

The former International Monetary Fund chief is out on a $6 million bail package but only on the condition he pony up for a $200,000-a-month security detail to monitor his every move.

Themes of Obama’s European tour highlight changes since his election

President Obama and Europe were bound together during his first two years in office by the global economic downturn and the collective effort to resolve it. But the dominant themes of the president’s European tour, set to begin Monday, highlight how much the world has changed over that time.

As he enters the second half of his term, security issues, in South Asia and the broader Middle East, have replaced the economy as the chief shared interests of the world’s wealthiest and most powerful allies.

Moily calls financial crisis a 'Credit Tsunami'

Calling a financial crisis a 'Credit Tsunami', Union Law Minister Veerappa Moily has emphasised the need for a comprehensive legal mechanism to avoid a repeat of global financial crisis.

Addressing the Round Table on "Legal security of business transactions, investments and financial instruments-New Challenges of the Global Crisis" in St. Petersburg, Moily said: " The question today is not about the global financial crisis, but is about making suitable enforcing legal mechanism at the domestic and at international level, and to institutionalize the same to avoid any further credit tsunami.'

Challenge for Global Cooperation

The state of the world is fraught with unprecendented imbalances and tremendous risks, and institutions are struggling to keep up with the changing times.

From a lack of progress on international trade and climate change negotiations to challenges involved in meeting energy and food security and the Millennium Development Goals, we are witnessing a number of failures in international governance. Moreover, the 2008-2009 global financial crisis starkly illustrated the systemic nature of risks, demonstrating how the integration of financial and trade markets quickly transmit turbulence in one economy regionally and internationally.

Can innovation plug the development funding gap?

The G20 should start a serious discussion about how innovative financing mechanisms could accelerate global development, but this should not distract from concrete commitments on aid

After years of talking about finding innovative ways to raise money for development – and indeed years of using innovative ways to raise money for development – the issue has well and truly hit the global political agenda. Not only has the Robin Hood tax campaign gained momentum as a result of the financial crisis, but President Nicolas Sarkozy has adopted the issue of innovative finance as one of the priorities for his G20 presidency. He has even brought Bill Gates on board to look at the issue as part of a review of the future of development finance more generally.

China and Russia Increasing the Speed of Military Modernization

The Kremlin recently revealed that Moscow has pledged $640 billion in an effort to bring 80% of the Russian military establishment up to modern standards by 2020. Consequently, Vladimir Popovkin, deputy defense minister in charge of arms procurement, recently suggested to the media that the Russian defense ministry plans to buy around 600 airplanes and 1000 helicopters. He further stated that the Ministry was planning to fund the development of a “new liquid fuel heavy intercontinental ballistic missile to replace aging RS-18 Stilleto and RS-20 Satan”. These missiles would be able to carry up to 10 warheads with solid fuel missiles each carrying a maximum of three warheads. It was further revealed that the Russian government plans to lend $24 billion to defense companies to help prepare for bigger contracts after 2015.

Securing global economic security

Inflation is a significant factor of global economic security and has the innate capacity to upend carefully laid plans

French growth accelerates, but deficit widens

PARIS: France’s growth accelerated to one percent in the first quarter of the year but its public deficit nevertheless widened slightly, the national statistics institute said on Friday. According to the INSEE agency, between January and March the economy grew at the strongest rate since the second quarter of 2006, before the credit crunch triggered a global economic crisis, hitting one percent. And the state body forecast that GDP growth for the year would be no less than 1.6 percent.

Prime Minister Spencer has said it; let's do it

PRIME Minister Baldwin Spencer of Antigua and Barbuda was spot on in his analysis of the threat posed to the Caribbean by organised crime.

"We are living in extraordinary times for our region," he told the 26th annual conference of the Association of Caribbean Commissioners of Police held in his country this week.

Donor countries should wake up to work to end poverty

Youth unemployment is at crisis levels in many developing countries, so job creation must move up donors' policy agendas

Job creation and retention is a central political strategy for most rich countries, but employment has been surprisingly absent from development thinking. Until now.

GCC trade highlights global economic shifts

Few places in the world better symbolise the power and opportunities of globalisation than Dubai. Without large oil reserves, our future depends on our success as a trading hub and our strategic position in the world. We are an open society not just in economic terms but in the make-up of our population. More than 200 nationalities live and work in harmony within our borders.

Africa: New Dimensions of Human Security

From its traditional notions of national security, that has the nation-state as the soul guardian of security around realist motivations of appropriating both military and economic power over the pursuit of ethics and ideals, a paradigmatic shift to new dimensions of security emerged in the last three decades.

The Cost of Bin Laden: $3 Trillion Over 15 Years

As we mark Osama bin Laden's death, what's striking is how much he cost our nation--and how little we've gained from our fight against him. By conservative estimates, bin Laden cost the United States at least $3 trillion over the past 15 years, counting the disruptions he wrought on the domestic economy, the wars and heightened security triggered by the terrorist attacks he engineered, and the direct efforts to hunt him down

Africa needs higher education, trade for global competitiveness

African economies would require more investments in higher education, trade development, and tourism as well as women entrepreneurship if they are to compete favourably with other players in the global economic market place.

A new report, The Africa Competitiveness Report 2011, launched yesterday at the opening of the 14th session of the World Economic Forum (WEF) in Cape Town, South Africa, which contains detailed competitiveness profiles of the 54 countries in the continent, noted that improving the region's economic prospects on a global scale would be difficult without taking care of these key factors.

How will Bin Laden’s Death affect Global Economic Equations ?

News regarding Osama Bin Laden’s death on the night of May 1st did two big things for the U.S: it gave closure to a number of families grieving since the 9/11 attacks, and a massive job-approval boost for U.S President Barack Obama.

But how is the world’s most wanted man’s death likely to affect the global economy?

ILO-ADB report decries women’s limited access to jobs

ASIA and the Pacific are losing up to $47 billion annually because of women’s limited access to employment opportunities, according to a new report.

The report, a joint publication of the International Labor Organization and the Asian Development Bank, also said while the annual average employment growth for 2000-2007 was higher for Asian women than for men, 45 percent of working-age Asian women were inactive compared to 19 percent of men.

America doesn't only have a spending problem; it's got a revenue problem, too

"The law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, to beg in the streets, and to steal bread."

So wrote Jacques Anatole Francois Thibault, the real name of French novelist Anatole France, the 1921 Nobel laureate in literature.

Forum focuses on food security challenges

Sheikh Nahyan Bin Mubarak Al Nahayan, Minister for Higher Education and Scientific Research and Chancellor Higher Colleges of Technology on Thursday opened the Gulf Intelligence Food Security Forum hosted by the institution at its Centre of Excellence for Applied Research and Training (CERT) in Abu Dhabi city.

Sheikh Nahyan noted that lack of enough food resources threaten national and economic security of states as well as global environmental security.

The Korean paradox

When we speak about Korea, a paradox is immediately apparent: European public opinion is much more focused on North Korea, one of the most closed, isolated and secretive states in the international community, whilst the attention that its southern neighbor, South Korea is due, is rarely given. Below the 38th parallel there is a story of recent economic success and burgeoning international prestige.

Will China's rise lead to the decline of U.S.?

The International Monetary Fund (IMF) recently made a bold prediction that China will exceed the United States and become the world's largest economy as early as 2016 in terms of purchasing power parity. This prediction seems to add new evidence to the popular statements made by some western analysts who believe China's rise is the main cause for the decline of the United States.

PM praises cooperation between Vietnam and UN

Prime Minister Nguyen Tan Dung has spoken highly of contributions made by John Hendra, UN Resident Coordinator in Vietnam, to promoting and developing cooperative ties between Vietnam and the United Nations.

The cooperation is developing well, especially the smooth operation of the pilot model of One UN in Vietnam, PM Dung told John Hendra in Hanoi on April 26, during the UN Resident Coordinator’s farewell visit at the end of his term of office in Vietnam.

Reordering the world

Before he died in 323 BC, Alexander the Great had overthrown Darius III to conquer the Persian empire. The conquest included Assyria, Asia Minor, Egypt, Mesopotamia, Persia and the steppes of Central Asia. The 300 years that followed this conquest, the so-called Hellenistic period, are a good example of a multipolar political world. Macedonia, Syria, Pergamon and Parthia vied with one another for domination, but no single state could establish hegemony. In the end, all were left weakened, to be dominated by a surging Roman empire from the first century BC onwards.

Stratfor: China and the end of the Deng dynasty

Beijing has become noticeably more anxious than usual in recent months, launching one of the more high-profile security campaigns to suppress political dissent since the aftermath of the Tiananmen Square crackdown in 1989.

Journalists, bloggers, artists, Christians and others have been arrested or have disappeared in a crackdown prompted by fears that foreign forces and domestic dissidents have hatched any number of "Jasmine" gatherings inspired by recent events in the Middle East. More remarkable than the small, foreign-coordinated protests, however, has been the state's aggressive and erratic reaction to them.

Qatar Meeting World Environmental Energy Needs

Qatar's Minister of Energy and Industry Mohammed Bin Saleh Al Sada, has stressed Qatar's commitment to its leading role in meeting the world's needs of environment-friendly energy in a sustainable manner .

He told the Fourth Asian Energy Ministers Roundtable Meeting in Kuwait on Monday that Qatar will remain committed to investing in various energy sectors and was using latest latest technologies.

How we'll meet our 5m jobs goal - Jacob Zuma

Let me extend a warm welcome to all of you to this Presidential Labour Summit on Job Creation. In the State of the Nation Address in February this year, I laid out the broad outline of government's programme of action, which places the creation of decent work as the central priority for this year.

I was pleased that the labour movement responded positively to the programme. During the reply to the State of the Nation debate, I undertook to consult with the leaders of organised labour and business regarding government's programme.

Algeria-Morocco: Border Closure Hinders Security and Economy

The Maghreb is at the moment a particularly sensitive and fragile region, because of a distinctive combination of various security challenges, including “frozen” border disputes, which have in turn discouraged attempts at meaningful and effective regional integration. However, this situation is currently overshadowed and aggravated by a wave of pro-democracy protests that have hit, to various degrees, all countries of the region.

IMF, World Bank meetings mark host of global economic challenges

Leaders from the International Monetary Fund and World Bank this weekend outlined a number of global economic risks, chief among them surging food prices, inflation, an uneven worldwide recovery and overheating in Asia.

While the global economy has shown signs of improvement, it remains in a "fairly fragile" state, said IMFC Chairman Tharman Shanmugaratnam at a press briefing on Saturday.

China, Russia endorse India's place in un Security Council

BRICS stands united on Libya, opposes use of force.

India has secured a significant endorsement of its aspirations for a permanent place in the United Nations Security Council or UNSC. India has been lobbying hard in various international forums for some time to gain a permanent seat at the UNSC, on the ground that the UN body should appropriately reflect the shift in power and relative importance in favour of developing countries like itself.

US lacks credibility on debt, says IMF

The US lacks a “credible strategy” to stabilise its mounting public debt, posing a small but significant risk of a new global economic crisis, says the c.

In an unusually stern rebuke to its largest shareholder, the IMF said the US was the only advanced economy to be increasing its underlying budget deficit in 2011, at a time when its economy was growing fast enough to reduce borrowing.

US lacks credibility on debt, says IMF

The US lacks a “credible strategy” to stabilise its mounting public debt posing a small but significant risk of a new global economic crisis, says the International Monetary Fund.

In an unusually stern rebuke to its largest shareholder, the IMF said the US was the only advanced economy to be increasing its underlying budget deficit in 2011 at a time when its economy was growing fast enough to reduce borrowing.

Germany: A test of strength

In the curious political blame game that is the daily bread and butter of the European Union, it seems there is one country that can never win: Germany.

Europe’s most populous and economically powerful country may be by far the biggest guarantor of a rescue fund for its cash-strapped eurozone partners. But that has not spared Berlin the brickbats from Greece, Ireland and now Portugal, where the popular feeling is that German meanness – not generosity – is partly to blame for austerity programmes those countries are being forced to adopt.

Keynes the key to maintaining Australia's economic health

The government's swift adoption of Keynsian policies protected the nation during the GFC. Now it is time to finish the job and bring in a surplus.

TWO and a half years ago, the fall of Lehman Brothers triggered the global financial crisis and sharemarket collapse that pushed the world economy to the brink of utter catastrophe. Australia's swift policy response saved tens of thousands of jobs, countless business failures, and a level of individual misery and hardship that can never be known. Today, despite the hammer blows of recent natural disasters, our economic outlook is strong and we are in a better position than almost any of our peers.

Canada's Dollar Strengthens to a 40-Month High as Crude Oil Prices Surge

Canada’s dollar strengthened to the highest level against its U.S. counterpart since November 2007 as commodities including crude oil, the nation’s biggest export, surged amid optimism global economic growth is accelerating.

The currency gained for the third straight week as oil exceeded $112 a barrel on concern Libyan output won’t rebound when fighting ends in that divided nation. Gold surged to a record. The Bank of Canada is expected to keep its target interest rate at 1 percent when policy makers meet next week.

2011 UN INTERNATIONAL DAY FOR THE ELIMINATION OF ALL FORMS OF RACISM

COUNCIL FOR AFRIKA INTERNATIONAL welcomes the United Nation's Declaration of 2011 as the International Year for People of African Descent but cautions that it has come rather late and unless an urgent suite of creative, innovative, unorthodox action-backed paradigms are taken to comprehensively and irreversibly eradicate discrimination faced by persons of African ancestry and the African Continent, the entrenched African Holocaust will continue.

South Africa Into BRICs: Shifting Global Economic Balance Away From Developed Countries? – Analysis

In January Chinese President Hu Jintao formally invited South African President Jacob Zuma to attend the third BRIC leaders’ summit to be held in China in mid April 2011, thus taking the number of BRIC nation to five (Brazil, Russia, India, China and South Africa). South Africa had applied and lobbied to join the BRIC at the G20 meeting of the world’s leading economies in Seoul in November 2010. The acronym, BRIC was coined by Jim O’Neill an economist with the Goldman Sachs in a paper entitled “The World Needs Better Economic BRICs” published in 2001. Yet in another paper Dominic et. al. (2003), again from Goldman Sachs argue that over the next 50 years, the BRICs could become a much larger force in the world economy and could be larger than the G6 in US dollar terms.

Recent reforms in Oman add to the feeling of hope

There is an apparent feeling of satisfaction among the Omanis, despite the demonstrations that took place in Sultanate recently.

The good news is that Oman has maintained its 34th rank in the World Economic Forum’s annual report on World Competitiveness for 2010-2011. And this is no mean achievement since 139 countries were included in the World Competitiveness Index survey. Moreover, the Sultanate maintained its top ranking despite the global economic slowdown.

Middle East MICE industry is upbeat

The overall outlook for the Middle East Meetings Incentives Conferences and Exhibitions (MICE) industry is upbeat, despite recent regional political upheaval. This is according to delegates polled at the Gulf Incentive, Business Travel and Meetings Exhibition (GIBTM) which is being held at the Abu Dhabi National Exhibition Centre this week.

At a panel discussion entitled ‘What is happening in the World of Meetings?’ hosted by Sally Greenhill, from The Right Solution, delegates were asked how the current political unrest had affected their business.

BRICS Summit to Focus on Global Developments

An upcoming summit of emerging economic powers will focus on global developments, financing and cooperation the attending countries, a senior Chinese diplomat said in Beijing on Saturday.

The meeting of BRICS, or Brazil, Russia, India, China and South Africa, will be held in Sanya on south China's tropical island of Hainan Province on April 14.

Corruption, dictatorship don't necessarily impede development: AUB lecture

BEIRUT: Corruption and absence of democracy are not necessarily obstacles to economic growth, according to the head of a leading Canadian funding agency for international development.

During a lecture at the American University of Beirut this week, Dr. David Malone, the president of Canada’s International Development Research Center, told an AUB audience of faculty members and senior administrators that there is no one successful model for development.

Unreported Soros Event Aims to Remake Entire Global Economy

Two years ago, George Soros said he wanted to reorganize the entire global economic system. In two short weeks, he is going to start - and no one seems to have noticed.

On April 8, a group he's funded with $50 million is holding a major economic conference and Soros's goal for such an event is to "establish new international rules" and "reform the currency system." It's all according to a plan laid out in a Nov. 4, 2009, Soros op-ed calling for "a grand bargain that rearranges the entire financial order."