Russia Seen Holding Rates as Inflation Tops Growth Worry

Russia will probably leave interest rates unchanged for a seventh month as inflation holds more than a percentage point above above the central bank’s target range.

US economy expands at 0.4 percent rate

WASHINGTON (AP) — The U.S. economy grew at a slightly faster but still anemic rate at the end of last year. However, there is hope that growth accelerated in early 2013 despite higher taxes and cuts in government spending.

UK services sector grew in January

The UK's services sector grew at its fastest pace for five months in January, raising hopes that the economy will avoid falling back into recession.

China's Austerity Starves a Gifting Economy

It is hardly a coincidence that the explosive growth of China’s luxury retail industry coincided with a government-directed stimulus of 4 trillion RMB ($586 million) in 2009 to fund massive infrastructure projects.

Cyprus rescue marks "game-changer" for Europe's banks

LONDON: If the bailout of Cyprus is a template for European rescue deals it marks a "game-changer" for banks that could raise funding costs, see deposits shift more quickly and delay the prospect of higher dividends.

Stevens Says G-20 Should Focus on Reform Implementation in 2014

Reserve Bank of Australia Governor Glenn Stevens said the Group of 20 should focus on implementing rule changes in the financial system rather than adding new reforms when Australia takes over the presidency next year.

Israel's new finance minister says painful cuts needed

TEL AVIV: Israel's new government will have to make painful spending cuts to tackle the country's huge budget deficit, finance minister Yair Lapid said on Sunday, just days after taking office.

Fed's Raskin bemoans low-wage nature of jobs recovery

(Reuters) - Too much of the recent growth in employment has been concentrated in low-wage and temporary jobs, leaving the recovery on shaky ground, a top Federal Reserve official said on Friday.

Cyprus MPs due to vote on new plan to secure bailout

MPs in Cyprus are due to begin voting on a series of bills that aim to raise the funds the country needs to secure an international bailout.

BRICS summit set to endorse plans for joint reserves pool, bank

WASHINGTON/BRASILIA: Leaders from the world's major emerging economies are likely to endorse plans at a summit next week to create a joint foreign exchange reserves pool and an infrastructure bank for developing countries, senior emerging market officials said on Thursday.

IMF head Lagarde's flat searched in Bernard Tapie probe

French police have searched the Paris apartment of IMF chief Christine Lagarde, as they investigate her role in awarding financial compensation to businessman Bernard Tapie in 2008.

Cyprus president to hold more bailout talks with Merkel

NICOSIA: Cyprus President Nicos Anastasiades has discussed the island's EU bailout with German Chancellor Angela Merkel and is to have more talks with her on Tuesday, a government spokesman said.

Treasury reassures British savers over funds held in Cypriot banks' London branches

The Treasury has moved to reassure British savers in UK-based branches of Cypriot banks after eurozone finance ministers imposed a tax of up to 10pc on all savers in return for a €10bn bail-out of the island nation’s financial system.

China Extends Zhou’s Record 10-Year Tenure as Central Bank Chief

China extended Zhou Xiaochuan’s record tenure as central bank governor, a signal the nation’s new leaders will deepen a shift toward making the financial system more market-driven.

World stocks flat ahead of US production data

BANGKOK (AP) — World stock markets mostly refrained from big moves Friday as traders waited for a report on U.S. industrial production.

G20 economies grow in late 2012, despite dip in Europe

PARIS: Economic growth in G20 countries climbed by 0.5 per cent in the fourth quarter of 2012, slowing only slightly from the 0.6 per cent pace recorded in the previous three-month period despite heavy contractions across Europe, preliminary estimates from the OECD showed Wednesday.

UK growth muted as outlook for OECD improves

The UK’s recovery is losing pace, according to the Organisation for Economic Co-operation and Development (OECD), underlining the pressure on the Chancellor ahead of next week’s Budget.

European Stocks Post Biggest Weekly Rally in Two Months

European stocks posted their biggest weekly advance in two months as employers in the U.S. increased their payrolls more than forecast and optimism mounted that central banks will continue to stimulate their economies.

Wall Street looks for Fed to continue asset purchase through 2013: Reuters poll

NEW YORK (Reuters) - Wall Street expects the Federal Reserve to continue its program of debt purchases through 2013 in an effort to prop up the economy despite evidence of an improved job market, according to a Reuters poll conducted on Friday.

Turkish decision on bank interest rates unfair: Banks association

ISTANBUL: A Turkish watchdog's decision to fine banks a record amount for collusion on interest rates was inconsistent and unfair, the country's banking association said on Saturday.

Canada private sector economists cut growth forecasts: Flaherty

OTTAWA (Reuters) - Private sector economists have cut their growth forecasts for the Canadian economy in 2013 due to volatile market conditions in the United States and Europe, Finance Minister Jim Flaherty said on Friday.

France calls on Europe to ease off austerity

BRUSSELS (AP) — France has called on fellow European nations to ease off on painful austerity policies to give the economy some breathing space and avoid social upheaval.

Analysis: Canadian dollar set to drop further as economy struggles

NEW YORK/TORONTO (Reuters) - The Canadian dollar, which has been declining against the U.S. dollar so far this year, is expected to slip further in the near term as a slowing Canadian economy and cooling housing market keep the nation's interest rates near historic low levels.

Latvia formally applies to join eurozone

Latvia has applied to join the eurozone next year, a sign of the faith in the troubled currency bloc as it looks to become the 18th member.

Greece, in trouble elsewhere, boosts cooperation with Turkey

ISTANBUL (Reuters) - Beset by economic crisis at home, Greece took a symbolic step towards improving relations with long-time arch rival Turkey on Monday by pledging to double annual trade with its eastern neighbor over the next three years.

Big US budget cuts begin as both sides trade blame

WASHINGTON: President Barack Obama and congressional Republicans have refused to concede any share of the blame for failing to stave off automatic spending cuts that will slash $85 billion in federal spending.

Egypt needs to fix economy, strike IMF deal-Kerry

CAIRO (Reuters) - Egypt's need to get the economy back on its feet is paramount and urgent, and the government should strike a loan deal with the IMF, U.S. Secretary of State John Kerry said on Saturday.

Canada seen recouping some past job losses in February

OTTAWA (Reuters) - The Canadian economy probably recouped some jobs in February that it lost earlier this year, but tepid growth most likely limited hiring to 8,000 net new positions, a Reuters survey of economists showed on Friday.

UK economy shrank in late 2012, recession in sight

LONDON (Reuters) - Britain's economy contracted by 0.3 percent in the last quarter of 2012 as first thought, keeping alive the danger of a third recession since 2008, although yearly growth was revised up, data showed on Wednesday.