Japan, Russia agree to revive talks on island dispute

MOSCOW (Reuters) - Russia and Japan said on Monday they would revive talks on resolving a territorial dispute that has prevented them signing a treaty formally ending their World War Two hostilities, and, wary of China's rising influence, agreed to bolster trade ties.

Abu Dhabi plans financial free zone, may resemble Dubai

ABU DHABI: The oil-rich emirate of Abu Dhabi is putting finishing touches to plans to establish a financial free zone that could resemble, and therefore compete with, the Dubai International Financial Centre, sources familiar with the matter said.

US growth falls short of forecasts, weakness ahead

WASHINGTON: The US economy regained speed in the first quarter, but not as much as expected, heightening fears it could struggle to cope with deep government spending cuts and higher taxes.

Greek private sector credit shrinks 3.5 per cent in March, decline slows

ATHENS: Bank lending to Greece's private sector contracted in March but at a slower pace compared to a month earlier, central bank data showed on Friday, as tighter credit conditions and a protracted economic slump sap demand for loans.

French unemployment at new high

The number of unemployed people in France rose to a fresh high last month, official data shows.

Britain dodges recession as economy grew in Q1

LONDON (AP) — Britain dodged recession after official figures showed the economy grew in the first quarter — a better-than-expected result that offered a bit of breathing space to a government facing criticism for its tough austerity policies.

US factory data shows new sign of slowing economic growth

WASHINGTON: US factory activity expanded at its slowest pace in six months in April, the latest sign that economic growth continued to lose momentum early in the second quarter, though the recovery has not been derailed.

George Osborne boosts funding for lending scheme before IMF visit

George Osborne will announce an expansion of the Bank of England's £80bn funding for lending scheme (FLS) ahead of a visit to Britain by the International Monetary Fund next month, as he seeks to head off calls for a softening of government austerity plans.

Blackstone boss backs $300 million Chinese university fund

BEIJING – Blackstone Group Inc. founder Stephen Schwarzman will personally donate $100 million to a scholarship fund at China's Tsinghua University as part of the largest internationally funded philanthropic project in the country's history.

UK business lending falls by £4.8bn

The Bank's April trends in lending survey showed that net lending to businesses fell by £4.8bn over the quarter, with lending down by £2.8bn in February alone.

G-20 finance officials decry lack of global growth, remain split on best approaches to take

WASHINGTON - World finance leaders say they are determined to attack a sluggish global economy in which growth is too weak and unemployment too high.

G20 feeling less heat over 'currency wars': Canadian official

OTTAWA: Finance officials from the world's leading economies will be less focused on "currency wars" at meetings this week despite recent attention on Japan's aggressive monetary policy, according to a senior Canadian finance official on Tuesday.

Is the Bank of Japan done?

Japan is in the midst of a high-wire act: It is trying to reawaken its economy while not sparking a currency war.

Africa to have robust 2013-15 growth, must work on poverty: World Bank

JOHANNESBURG (Reuters) - Sub-Saharan Africa's economic growth should accelerate to more than 5 percent over the next three years, far outpacing the global average, but the region must do more to convert this into reducing poverty, the World Bank said on Monday.

IMF keen to splash the cash in Egypt

Egypt is on the front line in the International Monetary Fund's battle to remain relevant despite the rapidly shifting balance of power in the 21st century global economy. IMF officials are in Cairo, haggling with the Muslim Brotherhood government about the conditions of a proposed $4.8bn loan.

U.S. Urges Japan to Refrain From Competitive Yen Devalue

The U.S. Treasury Department said it will press Japan to refrain from competitive devaluation while stopping short of accusing it of manipulating the yen in a report on exchange rates.

Cyprus sell-off fears send gold price tumbling

The price of gold fell to its lowest level in more than 18 months on Friday night amid fears that sales of the precious metal forced on Cyprus by its desperate financial plight would lead to wholesale dumping by hard-pressed countries in the coming months.

Fed minutes reveal disagreement over Ben Bernanke stimulus programme

Federal Reserve officials are increasingly split over chairman Ben Bernanke's $85bn-a-month stimulus programme, according to the minutes of their latest meeting.

Asian Development Bank forecasts fragile 2013 recovery

Asia's emerging economies will pick up in 2013 but the recovery will remain fragile, according to the Asian Development Bank (ADB).

German support for euro grows, poll shows

BERLIN (Reuters) - Some 69 percent of Germans want to keep the euro, a new poll showed on Tuesday, the highest level of support since the single currency was introduced in 2002, according to the paper which commissioned it.

Nigeria GDP rebasing likely delayed until 2014

ABUJA (Reuters) - The rebasing of Nigeria's GDP, which is expected to increase the estimated size of Africa's second largest economy by around 40 percent, is likely to be delayed until next year, the head of the statistics bureau said on Monday.

Lew to Press for European Policy Changes

WASHINGTON — Jacob J. Lew began his first trip to Europe as Treasury secretary on Sunday, a four-city tour in which he is expected to try to persuade finance ministers to pursue a little more growth and a little less austerity to improve the economic fortunes of the Continent and the world.

Rehn: big bank depositors could bear cost of bank failure

People with big deposits could suffer a ‘haircut’ under planned European Union law if a bank fails, the EU's economic affairs chief Olli Rehn said.

France drags on euro zone economy, Britain brighter

(Reuters) - A huge drop in French business activity meant the euro zone's recession dragged on in March but British services firms provided a rare glimpse of economic sunshine, posting their best month since August.

Cold weather clips UK construction

Britain's cold snap clipped construction activity in March, leading the sector to suffer its third consecutive month of shrinking output, although there were signs of optimism for the rest of the year.

IMF and Egypt discuss $4.8bn loan

International Monetary Fund (IMF) officials are in Cairo to hold talks with the Egyptian government about authorising a $4.8bn (£3.2bn) loan for the country.

Cypriot Finance Minister Resigns

PARIS — Michalis Sarris, the Cypriot finance minister who negotiated Cyprus’s bailout agreement with international creditors, resigned on Tuesday, citing the beginning of a government inquiry into the collapse of the country’s banking industry.

US manufacturing posts best quarter in 2 years: Markit

NEW YORK: US manufacturing growth picked up in March as new orders increased and hiring quickened, closing out the best quarter for the sector in two years, a survey showed on Monday.

Osborne defends welfare cuts after church attacks

LONDON (Reuters) - The government on Monday defended a raft of new welfare spending cuts, a key plank of efforts to rein in spending as the economy flounders, after church leaders attacked the changes as unjust.