World Bulletin / News Desk
German Chancellor Angela Merkel urged the world's top economies to push ahead with further financial regulation, saying that not enough had been achieved so far.
The global financial crisis has prompted an overhaul of regulation in almost every part of the financial system from over-the-counter derivatives to bank capital requirements.
But Merkel said in her weekly podcast that more was needed.
"In my view, we are not where we ought to be yet," she said.
"We had planned to regulate every financial centre, every financial actor and every financial market product. Significant progress has been made but the rules have not yet been implemented everywhere and we are still missing further areas."
The chancellor pointed to "shadow banks", or non-bank financial institutions that are less regulated than banks, as an area where progress needed to be made.
"For instance the regulation of shadow banks will hopefully be concluded at the next G20 meeting," Merkel said.
Leaders of the world's top economies (G20) made recommendations for regulation a year ago that also include hedge funds, special investment vehicles and repurchase agreements.
Regulators worry that as traditional banks get more heavily regulated, risky credit activities will shift to shadow banks.
Merkel meets with the heads of the International Monetary Fund, World Bank, International Labour Organisation, the World Trade Organisation and the Organisation for Economic Cooperation and Development in Berlin on Tuesday.
One of the topics of discussion will be the euro zone debt crisis. Merkel said tough steps were starting to show results.
"The structural reforms - despite being painful - are beginning to show effects in the individual countries, such as in Ireland and Portugal but also in Greece and Spain."
Finance Minister Wolfgang Schaeuble said on Friday that, while he wanted Greece to stay in the euro zone, that was not yet a done deal.
"We want Greece to stay in the euro zone but Greece has a lot to do. That's not yet decided," Schaeuble told ZDF television.
Greece is due to receive almost 31 billion euros in the next tranche of emergency loans from the euro zone bailout fund, if international inspectors agree that it has implemented reforms set as a condition for aid.
Nick Letchford, managing director of the group that owns the Old Shoreditch Station cafe, decided to install the machine after noticing the popularity of bitcoins among his customers working nearby in the digital industries.
Varying degrees of drought are hitting almost two thirds of the limited arable land across Syria, Lebanon, Jordan, the Palestinian territories and Iraq.
Turkey deems Iranian gas too expensive compared with other suppliers like Russia and Azerbaijan, an assertion rejected by Tehran.
Satoshi Nakamoto, a name known to legions of bitcoin traders, practitioners and boosters around the world, appeared to lose his anonymity on Thursday after Newsweek published a story that said he lived in Temple City, California, just east of Los Angeles.
BP's exploration and production sharing agreement with Libya covers onshore acreage in Ghadames, near the border between Libya, Algeria and Tunisia, and offshore acreage in the central Sirte basin
There are discussions at high levels within the U.S. government on how to use U.S. natural gas resources
The judicial sources said on Thursday that prosecutors suspected the companies of working together on campaigns to favour Lucentis, including promoting it to local doctors
Scotland's Energy Minister Fergus Ewing offered to meet Shell to discuss the future of the oil and gas industry if Scotland votes to end its 307-year tie with England
European Commission President said that from a purely financial standpoint the crisis in Ukraine should not have much impact on the euro zone but there was potential for far greater instability
The rouble-traded MICEX lost 1.9 percent on the news to trade at 1,322.2 points. It had earlier traded in positive territory.
If tensions eventually escalate into economic sanctions, the single biggest point of vulnerability for the Gulf would probably be the Dolphin Energy pipeline carrying about 2 billion cubic feet of gas per day from Qatar to the UAE and Oman
The former Soviet republic is strategically important to Moscow as the main gas transit route to the European Union, Russia's biggest customer
Iran will soon receive a second installment of previously frozen assets which are being returned to it under an interim nuclear agreement with world powers
Economic growth jumped to 5.2 percent in the last quarter, but Romania remains the second poorest country in the European Union
Brent crude prices decreased by 1.8 percent, more than US$2 per barrel on Wednesday.
The southeast European country sets out to achieve price stability by increasing the share of private entities in its state dominated energy sector.