WTO director-general Pascal Lamy said statements from G20 and APEC leaders last week “provided a clear signal that they expect the Doha Development Round to be a deliverable next year.”
The host of announcements related to banks made during the G20 Summit in Seoul last week could be credit negative for senior creditors of some banks, Moody's Investor Services said in a note.
During the G20 the city of Seoul went all out to present a face to the world and welcome dignitaries. Afterwards, life returns to normal.
IB Times interviewed Michael Yoshikami, president of YCMnet Advisors of Walnut Creek, Cal. To get his views on the recently completed G20 summit in Seoul, Korea.
On Friday at the G20 summit, finance ministers of France, Germany, Italy, Spain, and Britain issued a joint statement saying the holders of any existing euro zone government debt are safe from regulatory changes that would force them to take on additional losses.
U.S. stocks fell in early trade on Friday as speculation over interest rate hike in China and concerns about euro-zone sovereign debt weighed on the sentiment.
Leaders at the G20 spent as much time promoting the process itself as the real accomplishments of the summit. Most said that while there was little in the way of concrete rules, there were a number of steps in the right direction.
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.
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 Group of 20 at its summit in Seoul announced setting up of an SME Finance Innovation Fund with $ 28 million in fresh commitments and another $510 million drawn from their existing commitments in other funds.
Indian economy is likely to grow 8.5 percent in the current financial year and 9 percent in 2011-12, said Prime Minister Manmohan Singh on Friday in a speech at the plenary session of the G20 summit in Seoul.
The Group of 20 at its summit in Seoul is likely to commit millions of dollars fund to help finance small and medium enterprises and innovative financing models.
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.
Carrying flags representing their various organizations, and hundreds of cardboard stop signs declaring Stop the G-20!, approximately 4,000 protestors marched Thursday afternoon from Seoul Station through the Dongsam-gu district shouting slogans and singing labor hymns, while thunder rolled, rain fell and a silent column of hundreds of riot police in yellow slickers and wielding neon batons kept pace along the marchers' flank.
Jim Cramer, a financial pundit and former hedge fund manager, said the best way of making money off the G20 Seoul summit is betting it won't go well. And one bets against the summit by buying gold, he said.
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.
The G20 urgently needs to agree on steps to achive recovery from the global economic crisis, failing which children will be the most affected, says 'Save the Children', a UK-based non-profit organization, on the sidelines of the G20 summit in Seoul.
Moody's Investor Service upgraded China's 3 big policy banks and Chinese government's bond rating to Aa3 from A1.
The global slump has pushed 64 million people into extreme poverty or living off with less than $1.25 a day, says an estimate of the World Bank. Oxfam, another non-profit said its research showed 56 poor countries face a $65-billion fiscal hole in their budgets.
At the closing plenary session of the G20 business summit in Seoul, South Korea, David Cameron, the British Prime Minister, praised the host country’s miraculous economic advances and also highlighted some major themes underlying the purpose of the G20.
G20 leaders say they want nations to coordinate economic policy, but even the host country is looking out for number one.
