China's auto market growth may halve to 7 percent this year: industry body head

SHANGHAI (Reuters) - Growth in China's auto market, the world's biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday.

Australia’s Hockey Says No Way G-20 Will Soften GDP Goal

Australian Treasurer Joe Hockey said there was “no way” Group of 20 nations would soften their commitment to increasing gross domestic product by an additional 2 percent.

EU-US trade deal could add £10bn to UK economy a year, claims minister

The government has rebutted accusations that a vast free trade deal being negotiated between the EU and the US will act as a cover to privatise the NHS while also watering down food standards and banking regulations.

Italy crashes back into shock recession as Spain recovers

Italy has unexpectedly slipped into its third recession since the global financial crisis, underlining the ongoing economic agonies of the eurozone’s third largest economy.

South Korea quietly intervenes on the won to bolster economy

(Reuters) - South Korea's foreign exchange authorities have been engaged in a quiet war in recent months to hold down the won, throwing more firepower at it than for years in a bid to support exports and help keep the economy on its fragile recovery track.

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.

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.

Markets may be underestimating threats to the global economy

The world's economic, financial, and geopolitical risks are shifting. Some risks now have a lower probability – even if they are not fully extinguished.

S. Korean Cries for G-20 Focus on Yen Belied by Pick-Up: Economy

South Korea’s forecasts for faster growth and evidence of strength in sales from shipbuilders to carmakers are undercutting the nation’s warnings that neighboring Japan’s weakening yen poses a threat to its economy.

China finds 'violations' in lending by state-owned banks

China's National Audit Office (NAO) has said that some state-owned banks "violated" lending regulations.

EU ministers to thrash out tax clampdown

BRUSSELS: As tens of millions languish on the dole with EU austerity blamed for deepening recession, finance ministers will switch their focus Tuesday from bailout negotiations to the pursuit of a trillion-euro annual tax-fraud bounty.

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.

Analysis: China upturn underscores need to rebalance economy

BEIJING (Reuters) - China's recovery from its longest slowdown in growth since the global financial crisis is being driven by the two forces posing the biggest risks to the economy's increasingly urgent need to rebalance - investment and property.

Asian Markets Rise on Fiscal Deal

HONG KONG — Stock markets in the Asia-Pacific region began the year with gains on Wednesday, as investors took some relief from the last-minute fiscal deal reached in Washington, but wrestled with the lingering uncertainties that surround many other aspects of the U.S. budget.

UN adds about 5 per cent to budget for 2012-2013

UNITED NATIONS: The UN General Assembly approved an increase of about 5 per cent to cover the United Nations' regular operations in 2012-2013 on Monday evening, raising the two-year budget to about $5.4 billion but delaying action on a key proposal that would allow greater mobility of U.N. staff.

China rate cut a gamble that banks will boost economy

BEIJING (Reuters) - China's second surprise rate cut and lending reform in the space of a month shows that Beijing wants borrowing to play a greater role in reviving an economy struggling with its weakest pace of growth since the global financial crisis.

The Rise of a Euro Doomsayer

LONDON — The euro zone was unraveling, just as he had long predicted, yet Bernard Connolly, Europe’s most persistent prophet of doom, still faced a skeptical audience.

Avoid risky assets until November G20 meet: Citi strategist

(Reuters) - Investors should shun all risky assets and hold cash until early November when the Group of 20 leading economies (G20) meets to find a solution for the euro zone debt crisis, a Citigroup (C.N) strategist said.

"The way with which the euro zone crisis is managed will dictate whether or not we have slow growth in the United States or a global financial crisis," John Woods, chief Asian strategist at Citi Private Bank, told the Reuters Global Wealth Management Summit, on Tuesday.

Lee stresses G20 role in financial crisis

President Lee Myung-bak Monday indicated the important role of international economic cooperation in forums like the G-20, Monday, in not only protecting Korea but also finding long term solutions to global financial instability, particularly Europe’s sovereign debt crisis.

"We have surmounted the previous global financial crisis in the fastest and most successful fashion in the world,” Lee said in a radio address.

Asian shares tumble as Europe fears deepen

HONG KONG - Asian markets tumbled Monday and the euro fell against the greenback as anxious traders fear European leaders will not be able to find a solution to the region's debt crisis.

The week got off to a poor start as investors were left unimpressed by a commitment at the weekend from G20 finance chiefs to take strong, co-ordinated action to avoid another global financial crisis.