Washington - Americans took advantage of foreclosures in August by signing more contracts to purchase previously owned homes, according to data released Wednesday by a real estate organization.
Pending home sales climbed by 7.4 per cent in August, but the National Association of Realtors cautioned that mortgages from the home sales must still be approved at a time when the financial crisis is making credit for loans difficult to secure.
Washington - A 20-year-old Tennessee man has been indicted for allegedly hacking into Republican vice presidential nominee Sarah Palin's personal email account, US authorities said Wednesday.
David C Kernell faces a maximum of five years in prison and a fine of 250,000 dollars if convicted of accessing Palin's email account on Yahoo, taking screenshots of it and posting them on a public website, the Justice Department said.
Washington - Sharp increases in food and fuel prices will send inflation soaring to 12 per cent this year in sub-Saharan Africa, the International Monetary Fund said Wednesday.
Washington - Europe is edging toward recession and its banking system faces "extraordinary financial stress" that will not ease quickly, the International Monetary Fund said Wednesday.
Economic growth in the 15 countries using the euro will slump from an average 1.3 per cent this year to 0.2 per cent in 2009, while unemployment will rise to 8.3 per cent from 7.6 per cent, an IMF report said.
Washington The United States economy is likely to contract between now and early 2009 as the country continues to weather a financial storm that is far from over, the International Monetary Fund warned on Wednesday.
A US recession was to be expected as the financial system works its way out of a crisis that has severely curbed the availability of credit to businesses and consumers, the IMF said in a semi-annual report on the state of the global economy.
Washington - Slower demand from developed nations and increasing turmoil in regional markets has decreased growth and productivity in emerging Asian economies, the International Monetary Fund said Wednesday.
A major policy challenge for this extremely diverse region is how to respond to the global financial turbulence and weakening growth outlook, without losing sight of increasing inflation.
Washington - Americans took advantage of foreclosures in August by signing more contracts to purchase previously owned homes, according to data released Wednesday by a real estate organization.
Washington - A 20-year-old Tennessee man has been indicted for allegedly hacking into Republican vice presidential nominee Sarah Palin's personal email account, US authorities said Wednesday.
Washington - Sharp increases in food and fuel prices will send inflation soaring to 12 per cent this year in sub-Saharan Africa, the International Monetary Fund said Wednesday.
Washington - Europe is edging toward recession and its banking system faces "extraordinary financial stress" that will not ease quickly, the International Monetary Fund said Wednesday.
Washington The United States economy is likely to contract between now and early 2009 as the country continues to weather a financial storm that is far from over, the International Monetary Fund warned on Wednesday.
Washington - Slower demand from developed nations and increasing turmoil in regional markets has decreased growth and productivity in emerging Asian economies, the International Monetary Fund said Wednesday.
