Berlin  - German factory orders fell again in May, the Ministry of Economics and Technology said Friday, dragged down by a sharp drop in domestic demand.

After slumping by 1.7 per cent in April, German industrial orders slipped by a price-and-seasonally adjusted 0.9 per cent in May, adding to expectations that Europe's biggest economy could slow as the year unfolds.

Economists had predicted the data, which is considered to be a key if volatile economic indicator, to clock up a modest 0.6 per cent gain in May.

"Industry orders in the last six months have significantly fallen from what was a high base," the economics ministry said releasing the latest data.

Manila - The Philippines' inflation rate jumped to a 14-year high of 11.4 per cent in June from a year ago as food and fuel prices soared, the government said Friday. 

Madrid - The World Petroleum Council on Thursday stressed the impo

London - US Treasury Secretary Henry Paulson warned Thursday that soaring oil prices were likely to prolong the world economic slowdown while there was a "very strong possibility" that the US econo

Stockholm - Sweden's central bank Thursday raised its key rate by one-quarter point to 4.5 per cent, citing inflationary pressures in the economy.