Berlin  - German inflation hit three per cent in May, the nation's statistics office confirmed Friday, amid growing concerns about the threat posed to the world economy by surging consumer prices.

The release of the latest inflation data for Europe's biggest economy came as part of the buildup to next month's Group of Eight (G8) leaders meeting in Japan where resurgent inflationary pressures are likely to be a key item on the agenda.

Surging oil and food prices are also the key theme at a G8 finance ministers' meeting in Japan Friday.

Manila  - Remittances from overseas Filipinos rose 14.51 per cent in the first four months of the year due to the continuing high demand of Filipino workers abroad, the government said Friday.

Tokyo - The Bank of Japan decid

Riga- The Latvian government plans to cut spending by 263

Hanoi  - Vietnam's State Bank Thursday dismissed rumors of planned currency reforms and possible bank failures, one day after it devalued the dong and raised interest rates.

Beijing  - Soaring food costs kept China's monthly consumer price inflation at close to 8 per cent in May, but a small decline from April was expected to continue for the next few months, the gover