France and the International Monetary Fund will work together to develop criteria for the establishment of an international monetary mechanism to establish equity among currencies, and will have something tangible to present to the G-20 nations, and the rest of the world, next year, said French President Nicolas Sarkozy, in a press briefing at the close of the Seoul G-20 Summit.
Replying to a question whether his relationship with other G20 leaders suffered because of some electoral setbacks back home, he said his relationship with some of the leaders was far better now than two years ago when he first took over the office.
Brazilian Finance Minister Guido Mantega touted the voice developing nations had in the G20 process and getting the Chinese delegation to change its mind. But he was hit with tough questions about the G20 process and whether it made any real difference to the world economy.
U.S. President Barack Obama said the G20 economies have been successful in putting the world economy back on the path of recovery, but admitted that the progress was not fast enough as expected, especially in creating more jobs.
Commodities dropped on Friday as higher-than-expected Chinese inflation triggered rate hike worries in the world's second largest economy pushing gold, copper and platinum to 1-week lows and cutting December crude by more than $2 on the day.
The leaders of the G20 countries completed their summit in Seoul, South Korea with an agreement to push for “market-determined” currency exchange rates, to enhance exchange rate flexibility, and to establish a timetable to lay out “indicative guidelines” for global economies to confront trade imbalances by the first half of next year.
China's outsourcing industry growth is gradually reducing the gap with the leader India, according to a study released on Friday.
The People's Republic of China (PRC) is set to grow at an annual average rate of 8 percent for many years to come, but the country needs to carry out broad structural reforms to ensure that prosperity is shared by all, a leading PRC investment official said on Friday.
Cell phone giant Nokia, which is struggling to regain its market share in the United States, could find its new growth engine in the form of emerging markets and surging demand for smartphones.
The G20 statement differs little from [that of ] the October meeting. The statement calls for market-determined exchange rates, gradual adjustments in imbalances and condemns trade protectionism
The top after-market NASDAQ stock market losers are: Dynavox, Clearwire, China Electric Motor, Exide Technologies, ArthroCare, Cray, Harleysville Group, West Coast Bancorp, Kenexa, and Liberty Capital Group.
German gross domestic product (GDP) growth slowed to 0.7 percent in the third quarter after increasing sharply by a revised 2.3 percent in the second quarter.
The top after-market NASDAQ stock market gainers are: Andatee China Marine Fuel Services, Cumberland Pharmaceuticals, Finisar, Tianli Agritech, BSquare, Stereotaxis, Tandy Brands Accessories, EDAP TMS, Rex Energy, and Planar Systems.
Indian gold demand is likely to recover near to its pre-credit crunch level following the fall in demand in 2009, said World Gold Council (WGC) on Friday in a report titled India: Hear of Gold.
Report says across the globe, one in five cell phone purchases this past quarter was a smartphone.
There has been “big progress” in the negotiations between world political leaders as they seek to hammer out an agreement and compromise on major economic issues on the final day of the G20 summit in Seoul, South Korea.
Copper hit record highs in London and jumped to a 30-month high in New York on Thursday as strong Chinese data suggested higher demand for the metal by the world's biggest consumer.
The global currency war will likely dominate discussions at the G20 Seoul summit. Other issues on the agenda include global financial regulation, development gaps, and dealing with disruptive capital inflow and outflows.
Combat aircraft accounted for one-third share in worldwide transfers of major weapons in the past five years, says a report on Wednesday.
U.S. stocks declined in early trade on Thursday with tech stocks particularly remaining weak as weaker-than-expected sales and revenue forecast from Cisco Systems weighed on the sentiment.
Oil rallied to its highest in more than two years on Thursday on reports that major oil consumers may use more of it next year. Oil rose despite a strong dollar on the day, which analysts largely attributed to the latest demand-supply equations of the commodity.
The top pre-market NASDAQ stock market gainers are: China GrenTech, Dendreon, Geron, A123 Systems, TiVo, Foster Wheeler, DryShips, Approach Resources, and Hudson City Bancorp.
