GDP

The fiscal 2013 budget President Barack Obama will present to Congress on Monday will include hundreds of billions in infrastructure spending and a projected deficit of $901 billion, or about 5.5 percent of the nation's gross domestic product.

U.S. GDP is projected to grow at an annual rate of 2.2 percent this quarter, lower than a previous estimate, according to a survey by the Philadelphia Federal Reserve, released on Friday.

The Philadelphia Federal Reserve released a survey Friday that suggests the employment rate will drop further as 2012 progresses. Currently the unemployment rate in the country hovers near 8.5 percent.

French President Nicolas Sarkozy is up for re-election this year. He faces stiff competition from both the Socialist Party and the extreme right National Front. With France's economy in shambles, Sarkozy's re-election prospects look slimmer every day.

Thanks to expansive oil fields and a reservoir of millions of barrels of crude, Nigeria is the third-richest country in Africa. But due to corruption, poor wealth distribution, and lack of infrastructure, the nation's people suffer from staggering rates of poverty.

Greek political leaders said they had clinched a deal on economic reforms and spending cuts needed to secure a second bailout, but eurozone finance ministers demanded more measures and a parliamentary seal of approval. Finance ministers of the 17-nation eurozone meeting in Brussels warned there would be no immediate approval for the rescue package.

Singapore enjoys close relations with both the U.S. and China.

China's inflation unexpectedly rebounded in January mainly due to gains in food prices and a weeklong holiday. Though this does not change the broader downward trend in inflation and provides room for Beijing to stimulate its economy if the Euro area experiences a sharp recession. It does support economists' view that Beijing will not put in place aggressive stimulus packages as it aims for a smooth leadership transition this year.

A few months ago economists were all but certain the U.S. economy would slow sharply at the start of this year, with many warning that recession risks were growing.

The president of the Federal Reserve Bank of San Francisco said Wednesday the Fed may resume expanding its balance sheet to boost the U.S. economy if the recovery loses momentum or inflation stays below two percent.

Though the Maldives capital Malé remains in turmoil after the ousting of president Mohamed Nasheed, officials say resorts in the popular tourist destinations remain safe and open for business.

Some countries, including the U.S., could be trying to bring their budget deficit down too quickly, posing a risk for the economic recovery, the head of the International Monetary Fund's fiscal affairs department warned Wednesday.

Inflation in China is expected to trend lower in January, which provides room for Beijing to stimulate the country's economy if the Euro area experiences a sharp recession. However, economists do not expect to see aggressive stimulus packages to be put in place as Beijing is looking to achieve a smooth leadership transition this year.

Surging capital inflows, booming stock markets and a fast-appreciating currency suggest the India story is again shining after a dismal 2011.

Around 1,400 workers at Centerra Gold's flagship mine in Kyrgyzstan went on strike on Tuesday, a trade union leader said, halting production that contributes nearly 12 percent of GDP in the Central Asian republic.

The leaders of the three national parties in Greece's coalition government will meet the Prime Minister, Lucas Papademos to discuss the terms of the proposed bail-out plan.

India's economy is expected to grow at 6.9 percent in the current financial year, its slowest pace in three years, according to the official data released by the government.

China's vulnerability to the slump in global demand has been highlighted by the IMF in an economic outlook report on the world's second largest economy.

The domestic economic evidence in the U.S. has remained upbeat in early 2012, with a much better than expected employment report for January being the latest piece of good news according to the report by IHS Global Insight.

The shock to the U.S. economy after the housing bubble burst in 2008 was like an earthquake which has left one part of the land higher than another part, Federal Reserve Bank of St. Louis President James Bullard said, in a somewhat critical note on the actions of the U.S. central bank.

The top aftermarket NYSE gainers Friday were: K-V Pharmaceutical, 3D Systems, General Growth Properties, Toll Brothers and Post Holdings. The top aftermarket NYSE losers: Jones Group, Royal Caribbean Cruises, HCA Holdings, Goodrich Petroleum Corp and Edwards Lifesciences Corp.