German Inflation Unexpectedly Remained Unchanged in July

German inflation unexpectedly remained unchanged in July at the highest level in five months. Germany’s consumer price index, calculated using a harmonized European Union method, rose 1.9 percent from a year ago, the Federal Statistics Office in Wiesbaden said today.

Central Bank agrees 47.5% Bank of Cyprus haircut with creditors

NICOSIA: Cyprus's central bank agreed a 47.5 percent haircut with international creditors on Monday on deposits exceeding 100,000 euros in the Bank of Cyprus in an attempt to recapitalise it.

Saudi billionaire prince Alwaleed bin Talal urges less reliance on oil

RIYADH: Saudi billionaire prince Alwaleed bin Talal has warned global demand for the kingdom's oil is dropping, urging revenue diversification and investment in nuclear and solar energy to cover local consumption.

IMF sees slower-than-expected US second-quarter growth

WASHINGTON: The US economy looks like it grew more slowly than expected in the second quarter, the International Monetary Fund said in report on Friday.

Growth boost puts Labour on back foot

David Cameron and George Osborne were handed a precious weapon against Labour's attacks on their economic policies on Thursday as it emerged that the recovery picked up pace between April and June.

IMF calls for further action to solve eurozone crisis

The International Monetary Fund has called for more action to end the crisis in the eurozone. The IMF wants greater progress made on repairing the balance sheets of banks, so that lending can be kick-started.

Barack Obama deepens economic focus, challenges opponents

GALESBURG: President Barack Obama on Wednesday repackaged his economic message, a six-point plan for putting a floor under the country's diminishing middle class, and lashed out at opponents for creating ``an endless parade of distractions, political posturing and phony scandals.''

Cyprus aims to restructure major bank by end July

NICOSIA: The Cypriot government wants the restructuring of the bailed-out country's biggest bank to be completed by the end of this month, its spokesman said Tuesday.

Swiss equity haven may lose out as risk appetite rises

LONDON: Signs of an impending retreat from buoyant Swiss stocks may signal the start of a new hunger for risk among investors.

Iran denies missing World Bank payments, blames sanctions

DUBAI: Iran denied on Sunday it had failed to make payments on its loans to the World Bank for the last six months, blaming Western sanctions for preventing an intermediary from forwarding funds to the global lender, Iran's IRNA state news agency said.

China's banks warned to be prudent in setting rates

BEIJING: Chinese banks took control of setting loan interest rates on Saturday as the country's central bank warned them to be prudent and alert to credit risks.

U.S., Urging Worker Safety, Outlines Steps for Bangladesh to Regain Its Trade Privileges

The Obama administration publicly recommended on Friday a series of steps that the Bangladesh government should take to have its trade privileges with the United States restored.

IMF chief warns on global economic risks

LITHUANIA: The head of the International Monetary Fund says there are "new risks on the horizon" for the global economy, particularly from emerging economies, at a time when many countries are struggling to remedy old problems.

Greece Approves New Austerity Measures

ATHENS — Following two days of intense debate, Greece’s Parliament narrowly approved a barrage of new austerity measures early Thursday, including a contentious plan for thousands of layoffs and wage cuts for civil service workers.

Spain broke EU rules with scheme to support shipyards

State support for Spain's ship building industry will have to be repaid following a ruling by the European Commission.

Greeks strike against public sector cuts

Thousands of Greek workers are holding a 24-hour strike called by trade unions to protest against government plans to cut public sector jobs. Hospital services, public transport and flights are being affected by the industrial action.

China vows to quadruple solar generating capacity by 2015

BEIJING/HONG KONG: China aims to more than quadruple solar power generating capacity to 35 gigawatts by 2015 in an apparent bid to ease a massive glut in the domestic solar panel industry.

Spain’s Real Crisis Is a Leadership Void, Analysts Say

MADRID — The sense of scandal surrounding Prime Minister Mariano Rajoy has crested yet again, after another week of allegations and denials in which the former treasurer of his Popular Party continued to drip-feed the media glimpses of ledgers that appear to show that Spain’s leadership enriched itself for years with a secret slush fund.

China agrees to currency, procurement reforms in talks with US

WASHINGTON: China acknowledged U.S. concerns about cyber theft of intellectual property and trade secrets and agreed to steps that would open its financial and government procurement markets, the U.S. Treasury Department said on Friday.

Federal Reserve stops short of the clarity global markets crave

LONDON: Federal Reserve Chairman Ben Bernanke now knows why uncharted waters on mariners' charts used to be marked 'Here be Dragons'.

Canadian May New Home Price Index Rises 0.1% on Calgary Gains

Canada’s new home price index rose in May led by Calgary and cities in Ontario, the government statistics agency said.

Does gold price collapse signal a vote in economic confidence?

In principle, holding gold is a form of insurance against war, financial Armageddon and wholesale currency debasement. And from the onset of the global financial crisis, the price of gold has often been portrayed as a barometer of global economic insecurity.

Financial Industry Is Serious About Cybersecurity

The financial industry has been under a constant state of attack for the past year as hackers attempt to steal clients’ money, crash computer systems and disrupt capital markets.

Pakistan PM Sharif meets with Chinese President Xi

BEIJING (AP) -- Pakistani Prime Minister Nawaz Sharif met Thursday with China's President Xi Jinping during an official visit to Beijing focused on courting Chinese investment in his country's ailing transport and electricity generating sectors.

Egypt political upheaval to deepen economic crisis

CAIRO (AP) -- Egypt's descent into even deeper political turmoil will almost certainly put a multi-billion dollar international bailout on hold and lead to an even more painful economic crisis, with worsening fuel shortages and higher prices on basic goods.

Euro zone survival? Depends on where you work

LONDON: Three years into an unresolved euro zone crisis, Reuters polls show a marked split on the future depending on whether forecasters are based inside or outside the currency bloc.

IMF urges more reforms in Italy to create jobs

ROME (AP) -- The International Monetary Fund is praising Italy for having taken "bold steps" to heal its finances but says the government needs to do more to get "unacceptably high" unemployment down.

EU calls for quick return to democracy in Egypt

(Reuters) - The European Union called for a rapid return to democracy in Egypt on Thursday after the country's armed forces overthrew President Mohamed Mursi.

Greece tries to fix economy with cabinet reshuffle amid strikes and protests

On his first day in office with his newly reshuffled cabinet, the Greek prime minister Antonis Samaras had a to-do list that included dealing with striking seamen and trolley-bus drivers, discussing the privatisation of Pireaus port and preparing for talks with the creditors keeping Greece's defunct economy afloat.

States with sweetest corporate tax breaks

States looking to gin up jobs frequently offer sweet tax breaks to lure in new companies or keep businesses from bolting out of state.