Sydney  - Australian Prime Minister Kevin Rudd received a frosty welcome from US President George W Bush when he arrived for the White House dinner that opened the Group of 20 (G20) summit in Washington, news reports said Saturday.

While other leaders of the world's top 20 developed and emerging economies received smiles and backslaps, Rudd earned a perfunctory handshake and a stony glare, Australia's AAP news agency reported.

Rudd raised Bush's ire by telling dinner guests after taking a call from Bush on October 20 that the leader of the free world had asked him, "What's the G20?"

A dinner guest at the prime minister's Sydney residence leaked the slur to the press. It was published locally and then taken up by US newspapers.

Tokyo  - Japan agreed to provide 2 billion dollars to launch a fund with the World Bank to help recapitalize struggling financial institutions, especially in developing nations.

The World Bank was expected to contribute 1 billion dollars to the fund, according to a statement released Friday at the Group of 20 (G20) summit in Washington.

The leaders of 20 developed and emerging economies gathered in Washington for a two-day summit to discuss ways to fight the global financial crisis.

Washington  - Before getting down to serious business at the G20 summit in Washington, leaders of the world's 20 leading economies were celebrating Friday evening with a gourmet meal at the White House.

There's a financial emergency knocking at their doors and their national stock markets have shed more than one-third in value over the past tumultous year. But the G20 leaders are also marking a historic occasion: It's the first time ever that they've come together at the summit level, however hastily organized it was.

Washington  - Dutch Prime Minister Jan Peter Balkenende will not attend a meeting of the leaders of the world's top economic powers after learning that his father had died, US President George W Bush said late Friday.

Balkenende learned of his father's death while he was travelling to Washington for the G20 summit and immediately returned to the Netherlands to be with his family.

The country will instead be represented by Finance Minister Jan Cornelis de Jager.

Washington  - The leaders of the world's top economic powers are expected to agree Saturday to close off all gaps in the regulation of world finance markets following a financial crisis threatening to plunge the global economy into recession.

The government heads of the Group of 20 nations gathered Friday night in the White House for a dinner hosted by US President George W Bush and are expected to sign off on the agreement at an historic summit Saturday.

Washington - Leaders from the Group of 20 nations gathered Friday for an historic summit to address a financial crisis that has sent global stock markets plummeting and threatened to plunge the global economy into recession.

US President George W Bush will welcome the leaders of 20 countries to the White House for a working dinner Friday evening and the group will hold an intensive day of talks Saturday aimed at overhauling the world's financial system and spurring global growth.