World Economy

Brazil expects "regulation" of financial markets from G20 summit

Brazil expects "regulation" of financial markets from G20 summit Washington - Brazil expects that the G20 summit in Washington on Saturday will end with an agreement on "greater regulation" in financial systems, Brazilian Foreign Minister Celso Amorim and Finance Minister Guido Mantega said Friday.

Mantega said the summit's goal, will be to establish "workgroups" with deadlines to "present results on, for example, how to regulate financial markets." They also expect a decision to hold such meetings more regularly.

Mexico takes "moderate expectations" to G20 financial summit

Mexico takes "moderate expectations" to G20 financial summit Mexico City - Mexican President Felipe Calderon said Friday that he was going to the G20 financial summit in Washington with "moderate expectations," because he expects it to be just a "starting point" to tackle the global crisis.

"It would be desirable to have, towards the end of the meeting, mechanisms, working teams, with concrete tasks assigned that allow us to prepare and work in later G20 meetings," Calderon said as his goal, just before he left for the United States.

Leaders set to arrive in US for historic G20 financial summit

Leaders set to arrive in US for historic G20 financial summit Washington - Leaders from the Group of 20 nations were heading to the United States Friday for an historic summit to address a financial crisis threatening to derail the global economy.

US President George W Bush will welcome the leaders of 21 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.

APEC summit security boss removed a week before key gathering

APEC summit security boss removed a week before key gatheringLima - Peruvian Police colonel Oswaldo Alfaro, who was to be in charge of security at the 16th summit of the Asia-Pacific Economic Cooperation (APEC) forum, was removed from the job a week before the gathering that is set to be held in Lima, Peruvian media reported Friday.

New Interior Minister Remigio Hernani was said to have removed Alfaro along with all other officials with ties to former head of police Octavio Salazar, a personal rival whom he has already dismissed.

Leaders from over 35 nations to attend 24th WEF-India Economic Summit

Leaders from over 35 nations to attend 24th WEF-India Economic SummitNew Delhi, Nov. 14 : The World Economic Forum’s 24th India Economic Summit, held in partnership with the Confederation of Indian Industry (CII), will take place in New Delhi next week from November 16 to 18.

Nearly 700 participants from over 35 countries will work under the theme Securing India''s Future Growth.

Serbia and IMF agree 516-million-dollar standby deal

Serbia and IMF agree 516-million-dollar standby dealBelgrade  - Serbia's ruling coalition overcame internal strife over where to cut spending and has agreed on a 15-month, 520- million dollar standby credit with the International Monetary Fund (IMF), Finance MInister Diana Dragutinovic said Friday.

Within the deal, Serbia must cut spending to keep the 2009 budget deficit under 1.5 per cent of the gross domestic product and the annual inflation rate at 8 per cent.

A standby credit means that through March 2010 Serbia may draw the funds if its macroeconomic stability becomes jeopardized.

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