Paris - Defying predictions of a recession, the French economy grew by 0.1 per cent in the third quarter of 2008, the government's statistical office Insee said on Friday.
Following a GDP drop of 0.3 per cent in the second quarter of this year, most analysts - including Insee - had foreseen more negative growth for the period July to September, which would have represented a technical recession.
But consumer spending unexpectedly grew by 0.2 per cent in the third quarter, which helped fuel the rise in GDP, Insee said.
Hong Kong - Hong Kong might speed up infrastructure projects to boost employment as the economic downturn costs the city thousands of jobs, the territory's deputy leader said Friday.
The announcement came a day after 4,000 Hong Kong construction workers found they were among 11,000 staff who would lose their jobs as casino building works are halted in neighbouring Macau.
Sydney - As if the worst drought in a generation wasn't bad enough, wheat farmers in Australia's south-east corner were Friday warned that locusts could decimate this year's winter harvest.
"We expect to see locusts swarming in the next week or so and members of the community especially those in northern Victoria, who have not previously seen locusts, need to be prepared for their arrival," Victorian Agriculture Minister Joe Helper said.
Washington - As leaders of the Group of 20 nations gather for Saturday's historic meeting, one of the most likely outcomes is a strengthened role for the International Monetary Fund to help countries find their way out of the financial crisis.
The IMF has already agreed to provide emergency loans to countries in dire need of cash, including Iceland, Ukraine, Hungary and Pakistan, as the financial crisis spread from the United States to the rest of the world.
Washington - Democratic leaders in Congress said Thursday they do not expect to pass an immediate bail-out for the struggling US auto industry, citing opposition from Republican legislators.
Christopher Dodd, a Democratic senator from Connecticut who chairs the Senate Banking Committee, said his party did not have the support for legislation to help the nation's three largest automakers, which are struggling to remain afloat amid a sharp downturn in car sales.
Paris - Defying predictions of a recession, the French economy grew by 0.1 per cent in the third quarter of 2008, the government's statistical office Insee said on Friday.
Hong Kong - Hong Kong might speed up infrastructure projects to boost employment as the economic downturn costs the city thousands of jobs, the territory's deputy leader said Friday.
Sydney - As if the worst drought in a generation wasn't bad enough, wheat farmers in Australia's south-east corner were Friday warned that locusts could decimate this year's winter harvest.
Washington - As leaders of the Group of 20 nations gather for Saturday's historic meeting, one of the most likely outcomes is a strengthened role for the International Monetary Fund to help countries find their way out of the financial crisis.
Washington - Democratic leaders in Congress said Thursday they do not expect to pass an immediate bail-out for the struggling US auto industry, citing opposition from Republican legislators.
