Germany to push for economic reforms in G7

Germany wants to promote structural economic, financial market and tax reform when it takes over the presidency of the G7 club of rich nations next week, German media reports.

Stable govt brightens prospects for recovery - RBI

MUMBAI (Reuters) - Prospects of economic recovery in India look bright following the formation of a stable government, though supply side issues need to be solved to help monetary policy bring down inflation, the Reserve Bank of India said on Thursday.

World Bank says trade protectionism starts to level off

(Reuters) - Barriers to imports in major economies are starting to recede after a rash of protectionism during the global financial crisis, World Bank figures showed on Thursday.

Taxes Proving Gift to Chile Banks as Reform Spurs Loans

President Michelle Bachelet’s tax plan has helped drive a 20 percent rally for Chilean financial stocks over the past year, or 10 times the return of the benchmark index.

South African miners return to work after wage deal

Thousands of miners at South Africa's biggest platinum mining firms have returned to work, a day after unions signed a wage deal to end a five-month strike.

Bank of England behaving like an unreliable boyfriend, say MPs

The Bank of England has been accused by MPs of behaving like an unreliable boyfriend, giving mixed messages on when the first rise in interest rates is likely.

Libya adopts $48bn 2014 budget

Libya's interim parliament has adopted a 2014 budget worth $48bn (£28bn), after delays due to the unrest that has plagued the country.

Germany's Angela Merkel praises growth-friendly budget policies

BERLIN: Growth-friendly budget policies such as higher investment in innovation, research and transport were crucial to helping Germany cut its debt Chancellor Angela Merkel said on Saturday.

Italy wants mentality change, not looser EU budget rules: PM Renzi

(Reuters) - Italy wants a change in European "mentality" and not looser budget rules, Prime Minister Matteo Renzi said on Friday, adding that he would propose an ambitious agenda for when Rome assumes the rotating European Union presidency next month.

Central America’s Biggest Economy Sees Rating Cut on Slow Growth

Guatemala’s credit rating was cut one level as Central America’s biggest economy struggles to broaden its tax base and boost growth, Fitch Ratings said.

Jobs, factory data point to strengthening economy

(Reuters) - The number of Americans filing new claims for jobless benefits fell last week and factory activity in the mid-Atlantic region accelerated in June, more evidence the economy was strengthening after a disastrous first quarter.

City of London boosted by China currency trading move

London will be the base for the first clearing bank outside Asia for the Chinese currency, supporting Britain's push to be the leading western centre for offshore renminbi trading.

UK inflation rate falls to 1.5% in May

Annual inflation, as measured by the Consumer Prices Index, was 1.5% in May compared with 1.8% in April, according to the Office for National Statistics.

U.S. producer prices fall, but inflation still seen firming

(Reuters) - U.S. producer prices fell in May after two month of solid gains, but the decline was not enough to change perceptions that inflation pressures are steadily creeping up.

China seeks spending fix as economy wobbles

China is unlikely to resort to the kind of spending splurge that saw it through the 2008 financial crisis to deal with its slowing economy, analysts say, but recent moves to ramp up state support suggest it cannot wean itself completely off the stimulus drug.

Construction output boost for economy

Economic growth for the first three months of the year could be be revised up after official figures showed the construction industry grew by more than expected.

South Africa outlook downgraded by Fitch

Credit ratings agency Fitch has warned South Africa that its credit rating may be lowered following a five-month platinum strike in the country.

U.S. Economic Recovery Looks Distant as Growth Lingers

WASHINGTON — Recessions are always painful, but the Great Recession that ran from late 2007 to the middle of 2009 may have inflicted a new kind of pain: an era of slower growth.

World Bank cuts growth outlook as Ukraine crisis weighs

(Reuters) - The World Bank on Tuesday trimmed its global growth forecast, saying a confluence of events, from the Ukraine crisis to unusually cold weather in the United States, dampened economic expansion in the first half of the year.

Japan growth data revised upwards

Japan has revised up its growth figures for the January-to-March period, due to stronger growth in business investment.

India Pledges to Create Jobs and Tackle Inflation

NEW DELHI — India’s new government will pursue broad economic overhauls focused on job creation through public and private investment, with containing inflation a priority, President Pranab Mukherjee told Parliament on Monday.

Emerging markets output growth hits three-month high in May: HSBC survey

(Reuters) - Business activity in emerging markets expanded at the fastest rate in three months in May, although growth was weak compared with developed markets and an index of future expectations hit a new low, a survey showed on Friday.

George Osborne concedes rising house prices threaten UK economy

George Osborne has conceded that the housing market remains a threat to the recovery following comments by the International Monetary Fund (IMF) in its appraisal of the UK economy.

World Bank sees China growth on track, urges reform

(Reuters) - China is likely to meet its economic growth target of 7.5 percent this year, the World Bank said on Friday, but must persevere with fiscal and financial sector reforms to deal with the root cause of its debt problems.

UK services sector expands by more than expected in May

The UK's dominant services sector grew at a faster rate than expected in May, while employment in the sector stayed at a 17-year high recorded in April, a survey has shown.

Greeks hope for a bumper season as the tourists come back

Athens (AFP) - Greece is hoping for a new tourism record this year, with arrivals likely to exceed 20 million, in a new sign that the country is winning back foreigners as the economy gets back on its feet.

Fed's George urges halt to bond reinvestment before rate hike

(Reuters) - The Federal Reserve should let its balance sheet begin shrinking before raising interest rates, Kansas City Federal Reserve President Esther George said on Tuesday in remarks that highlight divisions over how to wind down years of crisis response.

Europe's banks brace for interest rate cuts, with Mario Draghi expected to act

Europe's banks were bracing themselves over the weekend for much anticipated cuts in the eurozone's commercial interest rates to boost the currency zone's struggling economy.

Almost all Spanish stock market firms use tax havens, report finds

Almost all of the 35 companies listed on the Spanish stock exchange use tax havens, according to a report from Observatorio RSC, an organisation that monitors corporate social responsibility.

China to Cut Reserve Requirement Ratio for Some Banks

China said it will cut the reserve requirement ratio for some of the nation’s banks, the government’s latest step to support growth in the world’s second-biggest economy.