EUROPEAN UNION

China urged the European Union on Monday to deal with its debt crisis as soon as possible and prevent contagion from spreading, as the country's number four-ranked leader arrived for a visit of the continent, including Greece.

China urged the European Union on Monday to deal with its debt crisis as soon as possible and prevent contagion from spreading, as the country's number four-ranked leader arrived for a visit of the continent, including Greece.

World stocks put in solid gains on Monday as investors bet on a positive outcome to the euro zone crisis talks and took comfort from signs that China's economy may not be in as much danger as feared.

The BSE Sensex rose as much as 1.9 percent on Monday, with index heavyweight Reliance Industries and banking stocks leading the gains, as investors grew optimistic about renewed efforts by European leaders to limit the region's debt crisis.

Canada warned on Sunday it will defend its interests if the European Union (EU) goes through with a proposal to rank Canadian oil sands as a highly polluting fuel.

France and Germany are close to a deal to leverage the euro zone bailout fund through first loss insurance for the primary bond market and a special purpose vehicle with an EFSF subordinated loan for the secondary market, euro zone officials said.

The government of Alberta, home to the bulk of Canada's oil sands, has written to EU experts voicing grave concerns that the bloc's plans to rank unconventional oil as a highly polluting fuel are unfair and a potential threat to trade ties.

European Union leaders piled pressure on Italy on Sunday to speed up economic reforms to avoid a Greece-style meltdown as they began a crucial two-leg summit called to rescue the euro zone from a deepening sovereign debt crisis.

The European Union is ready to adopt decisive measures to tackle its sovereign debt crisis, French Prime Minister Francois Fillon said Sunday.

EU finance ministers outlined a deal on Saturday for recapitalizing European banks, and the leaders of Germany and France said they hoped for a breakthrough in tackling the Eurozone debt crisis at a summit on Wednesday.

Banks cannot rely on taxpayers' money to recapitalise themselves, Sweden's Finance Minister said on Saturday ahead of a meeting of EU finance ministers that was due to discuss steps to strengthen the European banking system.

Banks cannot rely on taxpayers' money to recapitalize themselves, Sweden's Finance Minister said Saturday ahead of a meeting of EU finance ministers that was due to discuss steps to strengthen the European banking system.

The U.S. and Europe can expect big equity losses on Monday, Komal Sri-Kumar, chief global strategist at TCW Group, told Bloomberg TV.

The Turkish army is responding to an attack that left 24 Turkish soldiers dead, one of the deadliest single attacks in the long conflict between government the Kurdish Workers' Party, or the PKK. Meanwhile, the parliament is working on a new constitution that could address the Kurds' grievances.

EU antitrust regulators are investigating agreements between Johnson & Johnson and Novartis over concerns they may have delayed the entry of a generic version of a powerful painkiller on to the Dutch market.

Stock indexes rose at the open on Friday ahead of a European Union debt-crisis summit on the weekend that could go some way in removing one of the biggest overhangs for markets and allow investors to focus on corporate results.

European leaders have put off crucial decisions on how to stop a sovereign debt meltdown in their currency zone, keeping markets on edge, to give German Chancellor Angela Merkel time to secure parliamentary support, EU sources said on Friday.

Standard & Poor's will likely lower the credit standing of five European nations, including top-rated France, by one or two notches if the region slips into recession and government borrowings increase, the rating agency said in a report.

Stocks bounced on Friday after France and Germany said a comprehensive euro zone debt deal was on its way, if a little late, although a weaker euro and rising bund futures suggested not everyone was convinced.

Clashes between rival groups of protesters broke out in front of the Greek parliament on Thursday, interrupting a rally by tens of thousands against a tough new package of austerity measures due to be approved later in the evening.

U.S. stocks traded down on Thursday on fears regarding the Eurozone bailout.