China economy faces growing downward pressure: Vice Premier Li Keqiang

BEIJING: China should rely on domestic demand and structural reforms to support the economy which faces growing downward pressures, Vice Premier Li Keqiang said on Wednesday.

French unions warn of mass job cuts in reform talks

PARIS (Reuters) - French unions pressed President Francois Hollande at the start of labor talks on Tuesday to prove his job-saving mettle by handing his Socialist cabinet a list of looming company shutdowns that are threatening tens of thousands of jobs.

US says China not seeking trade edge with weak yuan

WASHINGTON: The United States ruled on Friday that China was not manipulating its currency to gain an unfair trade advantage but it called the yuan "significantly undervalued" and vowed to press the Asian power for currency reforms.

Security connection between Israel, China warming up

JERUSALEM (AP) -- After a prolonged chill, security ties between Israel and China are warming up.

Iran, big powers extend talks despite split over sanctions

BAGHDAD (Reuters) - Iran accused world powers on Thursday of creating "a difficult atmosphere" in talks on its atomic energy program, signaling a setback in efforts to reach an agreement that would allay their fears that Iran is secretly trying to develop nuclear bombs.

Syria says sanctions have cost country $4 billion

DAMASCUS, Syria (AP) — Syria's oil minister blamed international sanctions Wednesday for shortages of cooking gas and other basic goods, saying the measures have bled $4 billion from the nation's ailing economy.

Eurozone failure could spark rise in extremism, warns Nick Clegg

BERLIN: Europe faces a new wave of extremism and nationalism if the eurozone fails to resolve its problems, Britain's Deputy Prime Minister Nick Clegg has warned in a German news magazine.

Security Issues Open G-8 Talks With European Debt Next

Leaders from the Group of Eight nations opened two days of economic and security discussions by considering ways to keep Iran from gaining nuclear weapons capability and to promote peaceful political transition in Syria, according to a U.S. official familiar with the talks.

Greece starts work on new polls as euro crisis deepens

ATHENS: Greece began preparing Friday for its second election in just six weeks, with increasing alarm over the crisis in the eurozone after the savage downgrading of banks in Spain.

G8 Leaders to Weigh Euro Crisis, Food Security

Global economic recovery and food security are expected to be major topics at this weekend’s G8 summit.Leaders will gather at a short, scaled-down version of their annual meeting at Camp David in Maryland.

Contagion risks deepen as new Greek elections called

NEW YORK (CNNMoney) -- The threat of contagion in Europe deepened Tuesday, when Greece announced it would hold new elections in June after failing to form a coalition government.

S.Africa aims to lift savings, cut budget strain

JOHANNESBURG (Reuters) - South Africa is looking to strengthen its social security system by encouraging a higher savings rate among its highly indebted households, which should help economic growth and reduce the burden on state finances, the Treasury said on Monday.

US resumes Bahrain arms sales despite rights concerns‎

WASHINGTON - The administration of US President Barack Obama has said it will resume some arms shipments to Bahrain after most were suspended last year during a government crackdown on political dissent.

Spanish PM defends cuts day after massive protests

MADRID (AP) — Prime Minister Mariano Rajoy on Sunday defended his government's harsh austerity measures aimed at correcting Spain's grim economic forecast, one day after tens of thousands of Spaniards took to the streets to protest his handling of the country's worst crisis in decades.

German Finance Minister eyes growth measures for Greece

BERLIN (Reuters) - Germany is ready to consider additional measures to promote growth in Greece but the struggling economy must still carry out agreed reforms, German Finance Minister Wolfgang Schaeuble said in an interview with the Welt am Sonntag weekly on Saturday.

Spain to be in recession in 2012 and 2013: European Commission

BRUSSELS: Spain will have to approve big additional savings this year and next if it is to meet its ambitious deficit reduction targets as the Spanish economy will be in recession in 2012 and 2013, forecasts from the European Commission showed on Friday.

UN official: Plight of Afghan poor may worsen

KABUL, Afghanistan – Afghanistan's security situation has overshadowed the glaring humanitarian needs of the nation's poorest, and their plight may worsen as international assistance wanes, a top U.N. official said Wednesday.

Brussels, Berlin tell Europe to stick to austerity

BRUSSELS (AP) — Germany and the European Commission on Tuesday called on EU nations to stick to their promised budget cuts despite mounting voter discontent, but promised some new efforts to boost growth to alleviate economic hardship.

Clinton wants India to further cut Iranian oil imports

NEW DELHI: Even as the US was pressing India to further reduce its oil imports from Iran, a 56-member delegation from Tehran was in the capital to push trade ties.

Asian shares fall after European election results

Asian markets have dropped on fears that the eurozone may rein in austerity measures that many see as key to solving the region's debt crisis.

UN Security Council prods Sudan and South Sudan back to talks

The United Nations Security Council has voted to impose economic sanctions on Sudan and South Sudan if the two countries don’t cease their fighting immediately and go back to the negotiating table to settle their disputes over territory and oil revenues.

Roubini: Iran is the greatest looming threat

LOS ANGELES (CNNMoney) -- Nouriel Roubini gives an audience no shortage of scenarios to keep them up at night, but his number one worry right now is the looming threat of Iran building nuclear weapons.

Japan urges Israel 'patience' on Iran sanctions

JERUSALEM: Japan's Foreign Minister Koichiro Gemba has urged Israel to exercise "patience" on Iran's nuclear programme and give sanctions a chance to work, his spokesman said on Wednesday.

China, Russia resist West's sanctions push for Sudan, South Sudan

(Reuters) - China and Russia are resisting a Western push for the U.N. Security Council to threaten Sudan and South Sudan with sanctions if the two countries fail to comply with demands to halt their escalating conflict, U.N. envoys said.

Obama affirms strong economic, security ties with Japan

Washington (CNN) -- Affirming strong ties in a time of challenges, President Barack Obama and visiting Japanese Prime Minister Yoshihiko Noda on Monday hailed an agreement to move U.S. Marines from Okinawa and expressed solidarity against North Korea's nuclear weapons program.

Slowing US consumer spending points to economic slowdown

A modest increase in US consumer spending last month signalled the world's largest economy may struggle to accelerate this quarter.