IMF raises 2010 global growth forecast to 3.1 percent but warns that recovery will be slowISTANBUL — The International Monetary Fund said the global economy is recovering faster than expected — but that governments should not be hasty in withdrawing the added spending and low interest rates that have helped restore growth. Asian stock markets slip on weak US manufacturing data; Nikkei down nearly 2 percentHONG KONG — Asian stocks fell Thursday after a weak economic reading in the U.S. weighed on Wall Street and as a Japanese survey showed manufacturers still think they have too many workers. South Korean president calls for strong army, citing North Korean nuclear threat
Asian stock markets slip after tankan, weak US manufacturing data; Nikkei down nearly 2 pctHONG KONG — Asian stocks fell Thursday after a weak economic reading in the U.S. weighed on Wall Street and as a Japanese survey showed manufacturers still think they have too many workers. Empire State Building lit with Chinese colors, drawing protests from Communist state’s criticsNEW YORK — Red and yellow lights shone from the top of the Empire State Building at dusk Wednesday, a tribute to communist China’s 60th anniversary that protesters labeled “blatant approval” of totalitarianism and criticized as inappropriate for an icon in the land of the free. Lighting of Empire State Building with Chinese colors angers critics of Communist stateNEW YORK — The Empire State Building has been lit in red and yellow in honor of communist China’s 60th anniversary, amid criticism of the gesture. Military parade marking 60 years of communist rule in China stirs both pride and uneaseBEIJING — China celebrated its rise to a world power over 60 years of Communist rule Thursday, staging its biggest-ever parade of military hardware with over 100,000 marching masses in a display that stirred patriotism — and some unease. US financial regulators say G-20 goals for more global coordination worthy but hard to meetWASHINGTON — U.S. financial regulators told Congress on Wednesday that national differences are vexing efforts to make good on pledges by world leaders to establish new international mechanisms to prevent another financial meltdown. Wynn says IPO for Macau operating unit is priced at $1.30 per share in Hong KongLAS VEGAS — Wynn Resorts Ltd. said Wednesday its Hong Kong IPO was priced at 10.08 Hong Kong dollars ($1.30) per share, which the company said is at the top of the expected range for the offering. China’s bid for Nigerian oil follows setbacks on other oil deals in AfricaNEW YORK — China is seeking large stakes in Nigerian oil after the Asian giant ran into problems with oil deals in other African countries, according to a media report Wednesday. Solar products maker ReneSola offers shares at $4.75 per shareJIASHAH, China — Chinese solar product maker ReneSola Ltd. said Wednesday that its public offering of 15.5 million American depositary shares has been priced at $4.75 per share. The news sent the company’s stock tumbling by nearly 8 percent. Ang Lee says he’s baffled by poor box office showing by ‘Woodstock’HONG KONG — Ang Lee says he’s baffled by the poor box office results of “Taking Woodstock” — the Oscar-winning director’s worst-performing English-language movie in the U.S. in 10 years. Empire State Building to be lit red, yellow for anniversary, angering critics of China’s gov’tNEW YORK — Critics of China’s communist government are protesting plans to light the top of New York’s Empire State Building red and yellow to honor that nation’s 60th anniversary. US and Western allies ready to talk with Iran _ or work on new sanctionsGEMEVA — The U.S. and five other world powers began high-stakes talks Thursday with Iran to demand a freeze of its nuclear activities, with a senior U.S. official saying Washington is open to rare one-on-one talks with Iranian diplomats. Wal-Mart chairman warns of lethargic economic recovery, eyes growth in China and IndiaKUALA LUMPUR, Malaysia — The chairman of Wal-Mart Stores Inc. warned Wednesday the global economic recovery will likely be lethargic, even as the retailing behemoth sees great growth potential in China and India. China orders crackdown on industrial overcapacity; steel, aluminum, cement targetedBEIJING — China announced sweeping curbs on surging investment in steelmaking, cement and other industries, warning that chaotic overexpansion was raising the danger of job losses and trouble for banks. Commander of EU naval flotilla in Gulf of Aden says war on Somali pirates is not overGOTEBORG, Sweden — Hulking gray naval frigates fanned out across the Gulf of Aden have combined with monsoon storms to sharply reduce pirate attacks in the world’s busiest shipping lanes in recent weeks. Financial Times report: China making bid for huge Nigerian oil reservesOne of China’s three energy majors is negotiating with Nigeria to buy large stakes in some of the world’s richest oil blocs, according to a media report Tuesday. UN warns world leaders in Thailand that only 70 days remain to reach a new climate dealBANGKOK — The United Nations on Monday warned world leaders they have only 70 days to reach a new deal to limit global warming, while environmentalists pointed to the deadly floods in the Philippines to illustrate the already devastating impact of climate change. China Commerce Ministry approves GM plan to buy parts of Delphi, but sets conditionsSHANGHAI — China’s Commerce Ministry has given a conditional green light for General Motors Co.’s plan to acquire portions of auto parts maker Delphi Corp. World stocks fall as weak US economic data undermines recovery hopes; strong yen hits TokyoSEOUL, South Korea — World stocks sank Monday after disappointing data from the U.S. undermined hopes of a fast economic recovery and a strong yen whacked Tokyo’s market. China says profits at major industrial companies fell 10.6 percent in first 8 monthsBEIJING — Profits at China’s oil producers, steel makers and other major industrial companies fell 10.6 percent in the first eight months of 2009 from the same period a year earlier, the National Bureau of Statistics said Sunday. Asian stocks rebound on yen fall, big takeover deals in US; Europe opens lowerTOKYO — Asian stocks bounced back Tuesday as big corporate takeovers in the U.S. gave investors a new shot of confidence and the yen retreated from a nine-month high against the dollar. Clinton: Hard for Iran to convince world powers that nuclear program is for peaceful purposesWASHINGTON — Secretary of State Hillary Rodham Clinton says she doesn’t believe Iran can convince the U.S. and other world powers that its nuclear program is for peaceful purposes, putting Tehran on course for tougher economic penalties beyond the current “leaky sanctions.” Analysis: US has high ground in Iran talks but unlikely to budge Tehran on nuclear programWASHINGTON — The Obama administration has gained the high ground in upcoming talks with Iran, but Tehran — famous for diplomatic stall tactics — will probably leave the Geneva negotiations having bought still more time to pursue its nuclear ambitions. Asia markets mixed as US consumer confidence drop sows economic recovery doubts; Europe gainsBANGKOK — Asian stock markets were mixed Wednesday as a surprise drop in U.S. consumer confidence sowed new doubts about the pace of economic recovery. European shares gained modestly. Pfizer’s $68 billion buyout of Wyeth gets clearance in China, still awaiting US clearanceNEW YORK — Drug developer Pfizer Inc. said Tuesday China’s ministry of commerce approved the company’s $68 billion buyout of rival Wyeth. Study says China earthquake a once in 4,000 years event that ruptured multiple faultsBEIJING — China’s devastating earthquake last year that left some 90,000 people dead or missing was caused by a geological event that occurs about once every 4,000 years, a study led by Chinese researchers said Sunday. No. 2 US diplomat says Washington open to dialogue with NKorea to resume disarmament talksSEOUL, South Korea — Washington’s No. 2 diplomat said the U.S. is open to dialogue with North Korea if it helps get international nuclear disarmament talks started again, and urged the regime Wednesday to take advantage of the opportunity. World stocks retreat as US economic data undermines recovery hopes; G-20 pledges fail to helpLONDON — World stocks fell Monday after disappointing data from the U.S. undermined hopes of a fast economic recovery and a sharp strengthening in Asian currencies hurt confidence among the region’s exporters. |
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SKorean leader urges strong army, citing threat
