World Economy

NATO welcomes US and Russia joint statement on arms control

NATO welcomes US and Russia joint statement on arms control

Fidel Castro tweaks "contradictions" of G20 summit

Fidel Castro tweaks "contradictions" of G20 summit Havana  - Cuba's retired leader Fidel Castro Wednesday showed a flash of his former outspoken self, writing that this week's G20 summit in London reflects deep conflicts and yet holds the welfare of the world's workers in its hands.

The article, published in Cuban state media, also stressed the importance of the summit for the world.

Asian Development Bank expands trade finance to 1 billion dollars

Asian Development Bank expands trade finance to 1 billion dollars Manila - The Asian Development Bank (ADB) said Wednesday it has expanded its trade finance facilitation programme to 1 billion dollars to help ease a "dramatic reduction" in funding caused by the global financial crisis.

The Manila-based ADB said the programme's expansion could generate up to 15 billion dollars in much-needed trade support by the end of 2013.

US and Gibraltar to exchange tax information

US and Gibraltar to exchange tax informationGibraltar/Madrid  - The United States and the British overseas territory of Gibraltar have signed an agreement that will allow them to exchange tax information, Gibraltar and Spanish media reported Wednesday.

The agreement was signed by US Treasury Secretary Tim Geithner and Gibraltar Chief Minister Peter Caruana in London in advance of the G20 meeting, which will discuss measures against offshore tax evasion.

World leaders gather in London to tackle global crisis

World leaders gather in London to tackle global crisis London  - Leaders of the world's big economic powers are gathering Wednesday in London ahead of a landmark crisis summit to combat the worldwide recession and revamp the global financial system.

The summit of the leaders of the Group of 20 (G20) major industrialized countries and emerging economies is to open with a reception at Buckingham Palace and a working dinner at the residence of British Prime Minister Gordon Brown, the G20 host.

Serbia "wasting respect" by changing terms in IMF deal

Serbia "wasting respect" by changing terms in IMF deal Belgrade  - Serbia is "wasting respect" by altering the conditions it offered for a loan from the International Monetary Fund (IMF), the country's central bank chief said in an interview released Wednesday.

"In the IMF they're surprised at the quick change of position by the Serbian government," Jelasic, a frequent and outspoken critic of government economic policies, told the daily Press.

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