WASHINGTON: The International Monetary  Fund (IMF) on Thursday urged the United States to rein in its ballooning budget deficit without putting the “modest” economic recovery at risk.Amid... (more...)

WASHINGTON: A recent spike in financial market volatility poses a “major downside risk” to the global economy and may curb the recovery from recession, the International Monetary Fund said... (more...)

BRUSSELS, Belgium: Germany on Sunday proposed the setting up of an unprecedented 500-billion-euro (645-billion-dollar) crisis fund, with IMF involvement, an EU diplomatic source said.”Germany put... (more...)

WASHINGTON: The International Monetary Fund’s board on Sunday approved a 30 billion euro loan for Greece, part of a bigger 110 billion euro bailout package for the debt-stricken country. In a brief... (more...)

LONDON: World oil prices slumped on Wednesday after the euro hit a new one-year dollar low amid worries about debt-laden Greece, traders said.The market also took a hit following news of a larger-than-expected... (more...)

ATHENS: Markets pounded Greek bonds and banking stocks on Thursday, driving the debt-stricken euro zone member’s borrowing costs to new highs and pushing it closer to tapping a last resort EU/IMF... (more...)

UNITED NATIONS: Donors neared their goal Wednesday of raising 3.8 billion dollars at a major UN fundraiser for quake-ravaged Haiti, with nearly two-thirds of the pledges coming from the European Union... (more...)

SINGAPORE: Oil prices fell in Asian trade Tuesday on a stronger US dollar and as investors took profit following robust gains overnight, analysts said.New York’s main contract, light sweet crude... (more...)

HONG KONG: A bout of bargain-hunting and a stronger dollar boosted sentiment in Asia on Friday with stock markets higher during a quiet trading day. The greenback was given a lift against the troubled... (more...)