Business Highlights

Americans are spending more of their growing wealth. The economy still needs companies to do the same.

Still lacking the confidence to spend at normal levels, businesses have stockpiled nearly $1.9 trillion in cash, a record, the government said Thursday. Cash now accounts for 13 percent of corporate assets, the highest share since 1984. Economists say the surest way to reduce unemployment would be for companies to spend more of that cash to expand and hire.

Global Economic War Erupts on Multiple Fronts in Middle East and West Africa

The stock market lies muted and still today as word comes from an array of battle fronts seemingly unrelated but all bearing on the question of world financial and global security.

A loyal, multi-faceted partnership

A loyal and solid friendship unites our two countries. These precious ties, which we must maintain staunchly, were founded on a commonality of values based on an attachment shared by both our states to democracy, multilateralism, dialogue between civilisations, which requires a sustained policy of cultural exchanges.

The richness of this multi-faceted partnership is especially illustrated in the sector of sustainable development and transport.

Oil no immediate threat to recovery

The sharp jump in the oil price due to political upheaval in North Africa and the Middle East does not pose an immediate risk to ongoing world economic recovery.

The price of Brent crude oil has risen more than 21% since the start of this year and was trading just above $115/barrel on Friday.

This has led to fears of rapidly rising food prices and another global economic downturn as prices seem to be heading for 2008 levels, which contributed to the worldwide economic recession.

Oil higher ahead of US employment data

The situation in Libya has not deteriorated any further but then again it has not improved any. The opposition group still retains control of all of the areas including the oil port of Brega that forces loyal to Gaddafi have tried twice unsuccessfully to recapture even with airstrikes. The market eased a bit yesterday on a combination of a mediation proposal by Venezuela's Chavez and the Arab League...an unlikely duo since they are mostly autocratically ruled governments and the uprising in Libya is about freedom. Today Gaddafi forces are putting checkpoints around Tripoli as the opposition group has called for a protest in Tripoli after the noon prayers.

Hong Kong Stocks Fall Most in a Week on Oil; Sands China Drops

Hong Kong stocks fell by the most in a week after oil prices surged to the highest level since September 2008, raising concern more expensive energy costs will derail global economic growth.

Cathay Pacific Airways Ltd., the city’s biggest airline, declined 2.6 percent after crude prices rallied above $100 a barrel on concern turmoil in the Middle East will spread from Libya to Iran. Developers sank on concern inflation will accelerate, prompting China’s government to take more steps to curb higher prices. Sands China Ltd. tumbled 6.3 percent after its majority shareholder said it faced investigations by U.S. authorities.

Social Tensions In Algeria Being Handled, Says FM

Social tensions in Algeria are being handled and freedom of expression exists, says Foreign Minister Mourad Medelci.

"The social tensions, recently seen, concerned questions of purchasing power, which has been undermined by soaring prices induced by the global economic crisis," Medelci told a news conference held jointly with visiting Portuguese Foreign Minister Luis Filipe Marques Amado here Monday.