Oil prices dropped below US$ 51,80 a barrel to new 19-month lows yesterday on a report that OPEC powerhouse Saudi Arabia said further production cuts are not necessary right now.
The Bank of Japan left Thursday its benchmark interest rate unchanged at 0.25%, following two days of deliberations and apparently appeasing government officials who say consumer spending and inflation are still too weak.
The United States consumer price index increased 0.5% last December, the sharpest rise in eight months, ending 2006 at 2.5% which however is an improvement over the 3.4% of 2005, reported Thursday the US Labor Department.
Migrant workers sending money home has become the biggest source of foreign income in some poor European countries, the World Bank has said.
China's foreign currency reserves stood at more than one trillion US dollars by the end of 2006, according to official figures from the country's Central Bank.
The head of the United Nations Framework Convention on Climate Change (UNFCCC) proposed Tuesday the convening of a global summit backed by the UN to plan a future course of action for tackling the cross-cutting problem.
Iranian president Mahmoud Ahmadinejad currently on a visit to the three Latinamerican countries most vocal critics of United States said on Sunday that Nicaragua and Iran share common interests, common enemies and common goals
Vietnam became this week the 150th member of the World Trade Organization. U.S. Trade Representative Susan Schwab welcomed Vietnam into the WTO saying this is an historic day for Vietnam and the rules-based global trading system.
The Chinese economy expanded 10.5% in 2006, the fourth year running it has been growing at double digit pace revealed on Friday Ma Kai head of the powerful Development and Reform Committee, NDRC.
An expected dampening of the world economy in 2007 after three years of healthy growth has the weakening US housing market primarily to blame, a UN economic report released yesterday said.