World Bulletin / News Desk
Prime Minister Jean-Marc Ayrault cut France's economic growth forecasts on Tuesday, saying GDP was likely to grow 0.3 percent this year, rather than a budgeted 0.7 percent, and 1.2 percent in 2012 instead of a previously slated 1.75 percent.
In a keynote speech to parliament spelling out the new Socialist government's plans for the five years ahead, Ayrault confirmed plans to hire more teachers and police, create 150,000 state-aided jobs and promote more competitive industry.
To help industrial innovation, a public investment bank would be put in place before the end of this year, he said, and the government would also announce a plan shortly to address problems in the auto sector.
PM Mahlab said that Egypt eyes sustainable growth to improve the living conditions of Egyptians, noting that the Egyptian economy is currently recovering.
The French economist calls for redistribution of global wealth, which he says is too concentrated in the hands of the few.
Bank cites high financing costs and financing difficulties as challenges that need to be addressed to sustain growth.
Smuggling is denying Tanzania some 80 percent of receipts accrued from the precious gemstone
The Africa initiative will create "one huge free-trade union" allowing foreign investors in Egypt to more easily reach 260 million consumers from South Africa to Ethiopia.
Budapest says the collapse of the rival Western-backed Nabucco project to bring gas from Azerbaijan to Europe, and stalled plans to build inter-connector pipelines within eastern Europe, have left it with no alternative.
In Russia, the idea of a Saudi-U.S. plot against Moscow has become common currency as the economy struggles under the effects of low oil prices and Western sanctions imposed
Lithuania's new LNG terminal represents an end to Russia's gas monopoly in Lithuania, says Lithuania's president
The minister said the militants considered the eastern Syrian cities "safe for them" and thus transferred wheat and barley in Nineveh "to preserve it".
Decreasing oil prices are intended to pressurize and punish Iran and Russia: Int. Financial Markets expert says
Prices rise 30 percent as new president's deeply unpopular subsidy cut takes effect.
Japan's prime minister is to turn to the polls to see if his decision not to hike taxes can gain electoral support.
The agreement between the two countries, which trade around $3.2 billion in goods each year, will enable New Zealand to better compete with other countries in its sixth-largest export market.
G20 summit in Brisbane produced 800 commitments after two days of talks
The agreement gives Australian dairy farmers tariff-free access within four years to China's lucrative infant formula market, minus any of the "safeguard" caps that currently restrict competitors from New Zealand.
The shockingly downbeat report reinforced expectations Prime Minister Shinzo Abe will delay a sales tax hike, set for October next year, after a hike in the tax in April took a heavy toll on consumption.