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Asian markets were rose Tuesday as investors continued to be hopeful that central banks all over the world would soon announce stimulus measures to tackle the weakening global economy.

Asian shares paused Tuesday as investors awaited Federal Reserve Chairman Ben Bernanke's view on the U.S. economy later in the day, after weak U.S. retail sales and a lower International Monetary Fund global growth forecast raised hopes of more stimulus from the Fed.

The International Monetary Fund on Monday cut its global growth forecast in 2013 in response to Europe's sovereign debt crisis.

The International Monetary Fund on Monday cut its global growth forecast and warned that the outlook could dim further if policymakers in Europe do not act with enough force and speed to quell their region's debt crisis.

One of the euro zone's two bailout funds could begin disbursing monies to Spain at the end of this month in a €100 billion ($120 billion) rescue of the country's embattled banks, according to an article by the Associated Press based on a story in the German newsweekly Der Spiegel on Saturday.

This summer, both Greece and Europe are between a rock and a hard place. Greece faces the possible prospect of domestic coalition collapse, or ouster from the euro zone; Europe’s leaders, an elongated repayment for their loans to Greece, or a Greece default.

The Asian Development Bank (ADB) cut its growth forecasts for developing Asia on Thursday, saying financial and economic problems in Europe and the United States had cut demand for exports, although Southeast Asia remained a bright spot. China's economy was expected to grow 8.2 percent this year and India's 6.5 percent, Kuroda said.

China's gross domestic product growth slowed down in the second quarter to the lowest rate in three years, due to soft global demand official data released Friday show.

Greek Prime Minister Antonis Samaras requested on Friday that European Union (EU) and International Monetary Fund (IMF) creditors extend a ?237 billion bailout package for a grace period of two years to help the country survive its fifth year of recession.

Hopes that emerging markets will lead the world out of the global economic slowdown are beginning to dim.Christine Lagarde, managing director of the International Monetary Fund (IMF), voiced her concerns over the strength of the global economy, emphasizing that emerging markets, which currently account for two-thirds of global growth, were showing signs of weakening.

Scandal-tarred former IMF chief Dominique Strauss-Kahn and his wife Anne Sinclair have separated, a magazine reports.

Japan?s retail sales growth slowed down in the year to May compared to April indicating that private consumption is getting affected by the faltering global economic conditions.

Crude oil futures slightly declined and hovered above $79 a barrel during Asian trading hours Wednesday as doubts over the ability of European leaders to address the debt crisis at a summit this week offset concerns over tightened North Sea supplies due to a strike in Norway.

Asian stock markets mostly declined Monday as fears of a further global slowdown and economic headwinds from the euro zone continued to weigh on the sentiment.

Due to health issues, neither Greece's new prime minister, Antonis Samaras, nor the country's new finance minister, Vassilis Rapanos, will attend the European Union summit in Brussels scheduled for Thursday and Friday.

Hailed as an African reformer, Yoweri Museveni has now become an autocrat who bends the rules to stay in power and hands favors to his family. Nothing new for Africa, unfortunately -- but the exact opposite of what he himself once pledged.

To that end, Hollande wants to slap a 75 percent tax rate on those Frenchmen earning in excess of ?1 million per year.

Greek officials will present the proposed revisions at a euro zone finance ministers' meeting in Luxembourg on Thursday.

The formation of a new Greek government Wednesday staves off fears of a swift departure from the euro zone by the Hellenic Republic. But this week's election and installation of a new administration merely extends the country's economic death-spiral as its economic woes remain deep and pervasive.

After weeks of uncertainty, a Greek government has emerged following talks between Greece's center-right New Democracy party, which won Sunday's parliamentary elections, and the smaller leftist parties that lost seats.

Brazil, India, China and the other countries that paid into the latest European bailout fund aren't doing it for charity. Here's what they stand to gain from saving their former colonial masters.

China pledged $43 billion, while India and Russia promised $10 billion each, to the International Monetary Fund Monday as aid to debt-ridden countries in the euro zone.

The BRICS are expected to release data Monday on their contributions to the International Monetary Fund/European bailout package at the G-20 Summit in Mexico.

Something strange is going to take place next week at the G-20 summit: Europe, long accustomed to sending aid through the International Monetary Fund to developing nations, will pass a collection plate to many of those same countries. But to get such help, which could be as much as $105 billion from four major emerging economies, European nations will have to surrender some control of the IMF.

Stock markets in China and Hong Kong declined Tuesday, following losses on the Wall Street overnight as the early optimism over the Spanish bailout plan faded.

Spain's prime minister said Sunday that despite financial assistance of as much as ?100 billion ($125 billion) for the country's ailing financials sector, the euro zone's fourth-largest economy will continue to suffer from high unemployment and shrinking gross domestic product.

Spanish officials appeared hesitant to recognize the reality of their country's situation on Saturday as the nation agreed to accept as much as ?100 billion ($125 billion) in a bailout of its cash-strapped financials sector by one or both of the euro zone's rescue funds.

Japan's economy grew more than the initial estimate in the first three months of the year from the preceding quarter, indicating that the country is slowly regaining the growth momentum.

Malawians have faced severe shortages and other economic problems since the IMF drastically reduced lending facilities last year.