Washington - US growth will remain weak for "several" quarters as the world's largest economy works through a financial and housing crisis that has sharply reduced spending, Federal Reserve Chairman Ben Bernanke warned Monday.

Amid fears that the US has already dipped into a recession, Bernanke told a congressional hearing that a second fiscal stimulus package could help kick-start the economy.

Congress passed a 150-billion-dollar stimulus package in the spring, offering tax rebate cheques that raised consumer spending and helped boost growth in the second quarter.

Frankfurt - Signs of confidence returning to share markets emerged Monday as stocks in Europe and Wall Street gained ground following solid rises across Asia.

Reykjavik/Stockholm - Iceland was reported Monday to be inching closer to secure support for a rescue package from the International Monetary Fund (IMF) and several central banks.

Sofia - A Bulgarian court on Monday launched a trial against 9 people accused of embezzling millions from European Union aid funds.

New Delhi, Oct.20: The Confederation of Indian Industry (CII) has welcomed the Reserve Bank of India’s decision to cut the repo rate by 100 base points to bring it down to eight percent.

Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose by 0.48 dollars Friday, following the cartel's decision to meet on October 24 to discuss production cuts.

One barrel (159 litres) of OPEC crude stood at 63.82 dollars Friday, up from 63.34 dollars on the previous day, OPEC said Monday.