EU details plan to bring ‘zombie banks’ back to life

BRUSSELS - European Union’s (EU) efforts to revive ‘zombie banks’ and jointly supervise the bloc’s troubled financial sector gained momentum Wednesday as experts in Brussels issued a series of recommendations to member states.

New Obama strategy to beat terrorists in Afghanistan, Pakistan

WASHINGTON - Vowing not to allow terrorists to plot against the American people from ’safe havens’ in Afghanistan and Pakistan, President Barack Obama said the US will forge a new strategy to defeat the Al Qaeda and combat extremism.

European leaders meet to drive forward market reform

BERLIN - European Union (EU) leaders and finance ministers began arriving here Sunday for a meeting aimed at driving forward an overhaul of the world financial system and stepping up efforts to combat the global economic crisis.

Clinton wins finance promise from China

BEIJING - Chinese Foreign Minister Yang Jiechi Saturday promised US Secretary of State Hillary Rodham Clinton that his government will keep much of its huge foreign currency reserves in US treasury bonds.

US, Canada pledge cooperation in combatting global recession

WASHINGTON/OTTAWA - The US and Canada have agreed to work closely together to counter the widening global economic recession and avoid erecting trade barriers that would hamper thriving cross-border commerce.

G7 ministers pledge to stimulate recovery of global economy

ROME - Finance ministers and central bankers from the Group of Seven (G7) most-industrialized nations ended talks Saturday with a pledge to re-establish confidence in the stricken global financial system and to stimulate a worldwide economic recovery.

Drop ‘Buy American’ clause, Congress told

WASHINGTON - Nine international business organisations, including the Confederation of Indian Industry (CII), have urged the US Congress to drop the ‘Buy American’ clause in the over $800 billion stimulus bill.

World business bodies ask Congress to drop ‘Buy American’ clause

WASHINGTON - Nine internatioal business organisations, including the Confederation of Indian Industry (CII), have urged the US Congress to drop the ‘Buy American’ clause in the over $800 billion stimulus bill.

World leaders say green thinking can help global economy

DAVOS - With the economic crisis likely to dominate much of 2009, world leaders in Davos have urged that climate change should remain in focus.

Canada joins EU, Australia to oppose `Buy America’ clause

TORONTO - Canada has joined the European Union and Australia in seeking deletion of the ‘Buy America’ clause in the $819-billion stimulus package passed by the US House Wednesday.

Brown, Ban call for international efforts to boost economy

DAVOS - Coordinated international efforts will be needed to lead the world out of the current economic crisis, UN Secretary-General Ban Ki-Moon and British Prime Minister Gordon Brown said Friday, urging countries to maintain aid levels to the poor.

Obama for all nations to act in unison on global economic crisis

WASHINGTON - US President Barack Obama wants advanced and emerging economies to act in unison in dealing with the global financial crisis and would come up with more specific plans closer to the April G20 meeting in London.

‘Barack Obama could visit Russia in April’

MOSCOW - US President Barack Obama could pay a visit to Moscow in April, a Russian business daily said Thursday.

Britain’s queen and Gordon Brown send good wishes to Obama

LONDON - Queen Elizabeth II and Prime Minister Gordon Brown Tuesday sent messages of support to US President Barack Obama as parties were held across Britain to mark the handover of power in the US.

India important to US interests: Asia Society study

WASHINGTON - Citing the Mumbai terror attacks, an Asia Society task force study urges incoming the Obama administration to forge a strong partnership with India to tackle global challenges such as terrorism and the financial crisis.

Britain rejects Pakistani state’s link to Mumbai, focuses on LeT

NEW DELHI - Britain Tuesday asked Pakistan to take on Laskhar-e-Taiba, the suspected architect of the Mumbai carnage, ‘frontally and politically’ but differed with India’s view on the complicity of Pakistani official agencies in the attacks.

India will remain among fastest growing economies: PM

CHENNAI - Prime Minister Manmohan Singh Thursday said the Indian economy will expand by seven percent this fiscal and remain among the fastest growing in the world, as its fundamentals remained strong despite the global meltdown.

With Mumbai terror on mind, UK’s Milliband comes to India

NEW DELHI - With a probe revealing that the terrorists targeting Mumbai had ‘indirect links’ with British individuals, UK’s Foreign Secretary David Milliband comes here next week to strengthen counter-terror cooperation with India amid simmering tensions in the region.

India will emerge stronger from global meltdown: Assocham

NEW DELHI - India, along with China, Russia and South Korea, would emerge stronger from the global financial crisis as they enjoy strong economic foundations, higher growth rates and sound monetary policy measures, according to an industry lobby survey.

Brown hails end of ‘free market dogma’ ahead of G20 meeting

LONDON - British Prime Minister Gordon Brown Thursday hailed with apparent relief the end of ‘free market dogma,’ saying he would now work to build a ‘progressive era’ around the world.