Economic Development
Cyprus MPs study bailout 'Plan B' as meltdown looms
Mar 22, 2013 04:39 EDT
Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.
Cyprus launches banking overhaul as meltdown looms
Mar 21, 2013 23:17 EDT
Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.
Brazil, China to ink deal on trade in national currency
Mar 21, 2013 17:45 EDT
Brazil hopes to sign a bilateral accord with China to promote trade in their national currencies at next week's BRICS summit of the world's five emerging powers, Trade and Industry Minister Fernando Pimentel said Thursday.
Canada cuts growth forecast
Mar 21, 2013 16:21 EDT
Canada's finance minister unveiled a no-frills budget on Thursday that aims for a return to black in 2015 despite a lower economic growth forecast of 1.6 percent for this year.
Pro-fracking filmmaker accuses IMF of censorship
Mar 21, 2013 14:36 EDT
The maker of a documentary in support of oil and gas fracking accused the International Monetary Fund Thursday of censorship after it declined to show a key clip from his film at a conference.
Govt sticks to austerity path in budget
Mar 20, 2013 22:47 EDT
The government will stick firmly to a barrage of austerity measures, Chancellor of the Exchequer George Osborne insisted in a budget that also slashed economic growth forecasts, while offering plans to boost the weak economy as the eurozone crisis reignites.
Britain sticks to austerity path in budget
Mar 20, 2013 21:49 EDT
Britain will stick firmly to a barrage of austerity measures, finance minister George Osborne insisted in a budget that also slashed economic growth forecasts, while offering plans to boost the weak economy as the eurozone crisis reignites.
New Zealand growth hits pre-recession levels
Mar 20, 2013 19:36 EDT
New Zealand's economic growth reached a four-year high in 2012, the best since the country went through a recession that it has long struggled to shake off, official data showed Thursday.
Fed holds course amid government spending cuts
Mar 20, 2013 16:39 EDT
The Federal Reserve kept its easy monetary policies in place Wednesday, saying high unemployment and the government's sharp spending cuts remain barriers to full recovery from the 2008 crash.
Fed warns US spending cuts could hit growth, jobs
Mar 20, 2013 14:57 EDT
Federal Reserve Chairman Ben Bernanke warned Wednesday that broad-based US government spending cuts could curb the economic and jobs recovery.
China expects headway on BRICS bank at Durban summit
Mar 20, 2013 14:54 EDT
China expects progress towards creation of a development bank and a joint foreign reserves fund at the BRICS summit of five emerging powers in South Africa, President Xi Jinping said in remarks released here Wednesday.
Fed trims US GDP outlook, sees lower unemployment
Mar 20, 2013 14:25 EDT
The Federal Reserve kept its monetary easing policies in place Wednesday as it trimmed its 2013 and 2014 economic growth forecasts for the US economy.
French police raid IMF chief's Paris home
Mar 20, 2013 13:08 EDT
French police on Wednesday raided the Paris home of IMF chief Christine Lagarde in connection with a probe into her handling of a high-profile scandal when she was a government minister.
Osborne retains BoE inflation target
Mar 20, 2013 11:56 EDT
George Osborne refrained from altering the Bank of England's inflation target on Wednesday, despite concerns that GDP would be a more sensible measure, but gave it more leeway to boost economic growth.
Budget: Osborne sticks to austerity path
Mar 20, 2013 11:42 EDT
Britain will stick firmly to a barrage of austerity measures, George Osborne insisted Wednesday in a budget that also slashed economic growth forecasts, while offering plans to boost the weak economy as the eurozone crisis reignites.
Budget: 2013 economic growth forecast halved
Mar 20, 2013 08:59 EDT
The government on Wednesday halved its economic growth forecast for 2013, Chancellor of the Exchequer George Osborne revealed in his annual budget.
Govt to unveil tough new budget
Mar 20, 2013 04:15 EDT
The government was Wednesday set to unveil plans to grow Britain's recession-threatened economy, despite insisting on greater state savings as it struggles to meet its deficit-reduction target.
Gov't to unveil tough new budget
Mar 19, 2013 23:12 EDT
The government was Wednesday set to unveil plans to grow the country's recession-threatened economy, despite insisting on greater state savings as it struggles to meet its deficit-reduction target.
Britain awaits tough new budget
Mar 19, 2013 23:04 EDT
Britain's government was Wednesday set to unveil plans to grow the country's recession-threatened economy, despite insisting on greater state savings as it struggles to meet its deficit-reduction target.
Donors make progress on Palestinian aid
Mar 19, 2013 14:48 EDT
International donors are making progress toward finding the $1.2 billion needed to help fund the Palestinian Authority this year as it faces up to very difficult economic problems, officials said Tuesday.
