World Bulletin / News Desk
Brazil threatened on Friday to impose taxes on speculative foreign capital, firing a warning shot in a "currency war" its finance minister blamed on money-printing by Western central banks.
Guido Mantega said Brazil would not allow its real currency to appreciate excessively and was prepared to take all steps "such as those we adopted in the past".
"If necessary, if the inflows are even stronger, we have (the option) of short-term capital taxes that could (be introduced)," Mantega told reporters on the sidelines of an Economist conference in London.
"We will adopt new measures in terms of taxing of financial operations."
Brazil shocked investors in October 2009 by imposing taxes on some categories of foreign investment flows to local stocks and fixed-income securities. Back then, it said some of the flows constituted hot money and were harming the economy.
Mantega has been one of the foremost critics of the asset buying programmes of 'quantitative easing' that Western central banks have been using to shore up their economies, accusing them of in effect devaluing their currencies to boost competitiveness.
OPEC's influence is waning as it fails to cut production Thursday amid falling oil prices, while divisions between its member states deepen, experts say.
A controversy surfaced recently after the Public Account Committee (PAC) released a report accusing senior government officials of having fraudulently authorized payment of at least $122 million of public funds to a private company
Venezuelan Foreign Minister Rafael Ramirez left the meeting visibly angry and declined to comment on the outcome.
A number of potential deals under discussion in recent months could benefit from concessional financing from Tokyo.
The WTO has lurched from one disappointment to another over the past decade as it tries to find a balanced trade deal that all its members, now numbering 160, could support.
Saudi Oil Minister Ali al-Naimi said he expected the oil market "to stabilise itself eventually" but did not comment on talks with Russia held on Tuesday
Ergun Olgun, the Turkish Cypriot negotiator, said their own exploration would continue and even accelerate if Greek Cypriots pressed ahead with their plans to allow multinationals to exploit the area.
The decision to devalue the naira, according to analysts and central bank figures, appears aimed at saving the country's dwindling foreign reserves
Oil market watchers are divided on the outcome of OPEC's meeting in the Austrian capital. Predictions range from a large production cut to revive prices, to a small reduction, or none at all
The proliferation of smugglers' routes into Bolivia shows how difficult it is to eradicate illegal mining without better coordination across frontiers.
Falling crude prices are fueled by slowing global growth and increased supply.
Ukraine's leading banks said most of their loans to Crimean individuals and businesses were now delinquent.
Deputy Energy Minister Jaime Himende said that "Mozambique has great hydroelectricity potential, and recently they have taken some bold steps to use renewable resources efficiently"
Obama, who hosted Modi in Washington in September, will in January become the first U.S. president to visit India twice, completing a remarkable warming in the relationship
The combined damage inflicted on Russia's economy by Western sanctions and falling oil prices totals about $140 billion.
PM Mahlab said that Egypt eyes sustainable growth to improve the living conditions of Egyptians, noting that the Egyptian economy is currently recovering.