Oil slipped from its highest price this year near $55 a barrel on Tuesday as bulging oil inventories and falling energy demand outweighed fragile hopes for an economic recovery.
Mexico was flying home dozens of its citizens on Tuesday quarantined in China over fears of a new flu virus and announced plans to revive its economy hit by the deadly epidemic, which showed signs of easing.
China's People's Liberation Army will hold a big training drill later this year to hone the modernizing force's skills in complex, high-tech warfare, the official Xinhua news agency reported on Tuesday.
Oil edged up toward $55 a barrel on Tuesday, reaching the highest price of 2009, as rising equities and hopes for an economic recovery countered swelling oil inventories and falling demand.
Asian stocks rose to fresh seven-month highs on Tuesday as optimistic comments from central bankers bolstered confidence that the worst of the global economic downturn may have passed, offsetting anxiety about U.S. banks and their capital needs.
The U.S. dollar edged up from a six-week low on Tuesday after news the U.S. Treasury will instruct about 10 banks to raise more capital injected caution into markets and capped gains in Asian stocks.
Like prodigal sons, China's exporters are returning home to sell their products as global economic gloom takes a toll on their overseas orders.
China increased its goal for wind power generation capacity by the year 2020 to as much as 100 000 megawatts, from 30 000 megawatts that the Chinese government had set 18 months ago, Chinese newspaper China Daily reported on Monday.
JPMorgan Chase & Co may be called on by regulators for more acquisitions, as the U.S. banking sector is likely to see further consolidation, Chief Executive Jamie Dimon said on a webcast call on Monday.
Survivors of China's devastating earthquake last year face detention and harassment if they protest over collapsed schools, corruption claims and other grievances, Amnesty International said.
Oil prices rose to a five-week high near $54 a barrel on Monday on hopes an easing of the global economic recession would pave the way for a recovery in world energy demand.
Mexico announced plans on Monday to send a plane to retrieve dozens of its nationals confined across China, which quarantined them as a protective measure against a deadly new strain of flu.
Offices and businesses stayed closed in Mexico on Monday to try to prevent the spread of a deadly new strain of flu, and authorities said a sharp drop in new cases showed the battle was being won.
Oil prices rose to more than a one-month high on Monday on optimism the global economic recession was easing, spelling a potential recovery in world energy demand.
Private U.S. company Tang Energy Group said on Friday a Chinese company has agreed to provide $300 million in financing for its wind power projects.
Conventional wisdom says the United States has to bring concrete commitment to international climate talks in Copenhagen in December or no other country will act.
The World Health Organization reported on Monday that 985 cases of influenza A (H1N1) have been reported across twenty countries.
Stock index futures pointed to a higher open on Wall Street on Monday ahead of key housing data.
Asian stocks punched to a seven-month peak on Monday, fueled by confidence the global economy is recovering faster than expected and a further jump in Taiwanese shares on hopes for an influx of Chinese investment.
The Asian Development Bank launched its annual meeting with donors on Monday, a day after the region announced its first independent liquidity facility, a $120 billion fund to counter the economic crisis.
Thirteen East and Southeast Asian countries agreed on Sunday to set up a $120 billion emergency fund for use in an economic downturn, the first independent move by Asia to shield itself from financial crisis.
Chinese authorities have quarantined more than 70 apparently healthy Mexicans who they believe may have swine flu, Mexico's ambassador to Beijing said Sunday.
