WASHINGTON (AFP) ― U.S. President Barack Obama warned Europe’s debt crisis must not destabilize the global economy, as he laid on an effusive White House welcome for German Chancellor Angela Merkel.Obama and Merkel had extensive talks about the plight of debt-stricken Greece, which needs a second huge financial bailout, despite some reluctance from some eurozone members to stump up fresh funds.“I

Industry June 8, 2011

CARACAS, Venezuela (AP) ― Latin America is blessed with a wealth of natural resources such as oil, copper and soy, and seeks investment and loans to capitalize on them. China needs the commodities to keep its economy growing and has about $3 trillion in reserves to burn.Those interests have come together in a burgeoning and unorthodox partnership, as China lends and invests tens of billions of dol

Industry June 6, 2011

ATHENS (AFP) ― Hundreds of people from Greece’s two main private and public sector unions protested in central Athens Saturday to condemn the government’s new bailout deal with international lenders.Around 1,500 people marched to the capital’s main Syntagma Square, in front of the Greek parliament, with banners proclaiming: “No to the new memorandum” and “Resist!”Protesters from a communist-backed

Industry June 5, 2011

WASHINGTON (AFP) ― The International Monetary Fund said Friday it had okayed a sixth tranche of $225 million in financing for Iceland, citing Reykjavik’s “impressive progress” in post-crisis restructuring.The IMF said Iceland’s economy would likely return to growth this year, but still faced risks from inflationary pressures, delays in investment projects, joblessness and slow private sector debt

Industry June 5, 2011

China’s manufacturing expanded at the slowest pace in nine months in May as the government extended a campaign to cool inflation and the property market, a survey of companies indicated. The Purchasing Managers’ Index was at 52 from 52.9 in April, the China Federation of Logistics and Purchasing said in an emailed statement. The number was higher than the median forecast of 51.6 in a Bloomberg New

Industry June 1, 2011

MOSCOW (AFP) ― Russia on Monday banned the import of all vegetables from Germany and Spain and warned the sanction could soon be applied to the rest of Europe because of the deadly E. coli bacteria scare.The country’s consumer protection watchdog said in a statement that the ban covered “raw vegetables” including tomatoes, cucumbers and salad produced in Germany and Spain.Vegetables including Germ

Industry May 31, 2011

Colombia, the second-largest producer of mild arabica coffee bought by companies such as Starbucks Corp. and Nestle SA, said consumers will have to get used to higher prices because of rising demand and reduced supply. Production next year will fall short of consumption, keeping the cost of arabica coffee in a range of $2 to $3 a pound for the next 12 months, according to Colombian National Coffee

Industry May 29, 2011

MANCHESTER, England (AFP) ― Sir Alex Ferguson said Manchester United would solve the problem of how to deal with Lionel Messi here Tuesday ahead of his Champions League final showdown with Barcelona.Messi stole the show for Barcelona two years ago, when the Spanish giants outclassed favorites United to win the 2009 final in Rome.Since then, the diminutive Argentinian has gone from strength to stre

More Sports May 25, 2011

PARIS (AFP) ― The world’s most powerful Internet and media barons gather in Paris on Tuesday in a show of strength to leaders at the G8 summit, amid international rows over online access, copyright and regulation.Top executives from online giants like Google, Facebook and Microsoft will tout the economic potential of the Internet, which their host, French President Nicolas Sarkozy, has put on the

Industry May 23, 2011