International Business News - Economy http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Kuwait's gross domestic product grew by 8 percent in 2007--the slowest in six years--despite higher oil prices, a report said Tuesday. The country's largest commercial bank, the National Bank of Kuwait, announced that the gross domestic product had reached $120 billion last year, an increase of 8 percent, following four consecutive years of double-digit growth. http://www.ibtimes.com/articles/20080708/report-kuwaits-gdp-grew-8-percent-in-2007.htm Tue, 08 Jul 2008 16:12:43 EDT Rising global food and oil prices will cause "inevitable adjustments and restrictions" for Cuba's economy, officials warned on Tuesday. The communist government had projected that gross domestic product would expand by 8 percent in 2008, but Economy Minister Jose Luis Rodriguez suggested that might no longer be possible. http://www.ibtimes.com/articles/20080708/cuba-warns-of-economic-restrictions.htm Tue, 08 Jul 2008 14:56:55 EDT Barack Obama and John McCain agree on this much: The economy is staggering under the Bush administration, and Americans are hurting. But who's to blame and how best to fix it? http://www.ibtimes.com/data/articleimgs/87874-mccain-2008.jpg http://www.ibtimes.com/articles/20080708/mccain-obama-duel-economic-fix-plans.htm http://www.ibtimes.com/articles/20080708/mccain-obama-duel-economic-fix-plans.htm Tue, 08 Jul 2008 09:03:03 EDT Leaders from the Group of Eight industrialized powers expressed "strong concern" about rising oil and food prices but said they remain "positive" about the outlook for the global economy in a communique released Tuesday. http://www.ibtimes.com/articles/20080708/g-8-concerned-about-oil-food-inflation.htm Tue, 08 Jul 2008 02:41:58 EDT Leaders of the Group of Eight economic powers warned Tuesday that surging oil and food prices could undermine world growth but that the global economy would ultimately be resilient. http://www.ibtimes.com/data/articleimgs/87980-japan-g8-summit.jpg http://www.ibtimes.com/articles/20080708/g-8-positive-on-outlook-despite-oil-food-prices.htm http://www.ibtimes.com/articles/20080708/g-8-positive-on-outlook-despite-oil-food-prices.htm Tue, 08 Jul 2008 09:19:10 EDT Chile's Central Bank says annual economic growth slowed to 2.1 percent in May as one of Latin America's most stable economies cools amid a global downturn. http://www.ibtimes.com/articles/20080707/chile-growth-slows-to-2-1-percent-in-may.htm Mon, 07 Jul 2008 18:36:43 EDT Barack Obama and John McCain agree on this much: The economy is staggering under the Bush administration, and Americans are hurting. But who's to blame and how best to fix it? http://www.ibtimes.com/data/articleimgs/87596-mccain-2008.jpg http://www.ibtimes.com/articles/20080707/mccain-obama-duel-on-economic-fix-it-plans.htm http://www.ibtimes.com/articles/20080707/mccain-obama-duel-on-economic-fix-it-plans.htm Mon, 07 Jul 2008 22:04:39 EDT For years, Chris Mauro took a 10-mile detour on his way to work each morning to check out the swells at his favorite surf break and plot the best location for his afterwork wave-riding. http://www.ibtimes.com/data/articleimgs/87449-uneasy-economy-surfing-gets-pounded.jpg http://www.ibtimes.com/articles/20080707/costly-gas-crimps-surfers-style-roils-industry.htm http://www.ibtimes.com/articles/20080707/costly-gas-crimps-surfers-style-roils-industry.htm Mon, 07 Jul 2008 16:46:08 EDT British manufacturing output fell 0.5 percent in May compared to the previous month, the government said Monday. An index of production in the latest three months also dropped. http://www.ibtimes.com/articles/20080707/uk-manufacturing-output-falls-in-may.htm Mon, 07 Jul 2008 11:12:16 EDT Democrat Barack Obama sought to link Republican rival John McCain to President Bush's economic policies as the two presidential candidates maneuvered for the upper hand on a top concern of voters. http://www.ibtimes.com/data/articleimgs/87294-obama.jpg http://www.ibtimes.com/articles/20080707/obama-lumps-mccain-with-bush-economy.htm http://www.ibtimes.com/articles/20080707/obama-lumps-mccain-with-bush-economy.htm Mon, 07 Jul 2008 14:02:56 EDT Republican presidential candidate John McCain acknowledged the steep drop in U.S. jobs and said he would help the economy by cutting taxes, encouraging free trade, building nuclear power plants and launching other initiatives. http://www.ibtimes.com/data/articleimgs/87283-mccain-2008.jpg http://www.ibtimes.com/articles/20080707/mccain-touts-plan-to-create-jobs-help-workers.htm http://www.ibtimes.com/articles/20080707/mccain-touts-plan-to-create-jobs-help-workers.htm Mon, 07 Jul 2008 07:49:47 EDT China's premier called for continued vigilance against inflation that has reached 12-year highs, saying the government should ensure that price increases are "acceptable," a state-run news agency reported Sunday. http://www.ibtimes.com/articles/20080706/china-premier-continue-inflation-fight.htm Sun, 06 Jul 2008 12:10:28 EDT The number of non-farm jobs diminished again in June as expected according to the latest government figures, marking the sixth straight month of job losses. http://www.ibtimes.com/articles/20080704/job-losses-economy.htm Fri, 04 Jul 2008 12:15:42 EDT The nation lost jobs for a sixth month in a row in June, a storm of pink slips drenching this year's July Fourth holiday for more than 60,000 Americans and leaving thousands more worried about the future. http://www.ibtimes.com/data/articleimgs/85605-economy.jpg http://www.ibtimes.com/articles/20080704/62-000-jobs-lost-off-nearly-half-million-for-year.htm http://www.ibtimes.com/articles/20080704/62-000-jobs-lost-off-nearly-half-million-for-year.htm Fri, 04 Jul 2008 05:54:05 EDT Even as the Legislature prepares to vote on a $28.2 billion budget that draws heavily on one-time dollars, Senate officials say a $1 billion deficit could pile up in the next 12 months and force additional cuts or tax increases. http://www.ibtimes.com/articles/20080703/deficit-in-view-as-pa-lawmakers-consider-budget.htm Thu, 03 Jul 2008 15:32:05 EDT Higher oil prices caused service businesses to shrink in June, as falling new orders and rising costs hit the nation's coffee shops, paper mills and corner stores. http://www.ibtimes.com/articles/20080703/service-sector-contracts-as-orders-fall.htm Thu, 03 Jul 2008 14:30:05 EDT Mortgages will be harder to get in the third quarter as lenders continue to tighten requirements, the Bank of England said Thursday, while the government reported a sharp fall in construction orders. http://www.ibtimes.com/articles/20080703/british-central-bank-says-loan-conditions-tighten.htm Thu, 03 Jul 2008 09:00:16 EDT The nation lost jobs for a sixth month in a row in June, a storm of pink slips drenching this year's July Fourth holiday for more than 60,000 Americans and leaving thousands more worried about the future. http://www.ibtimes.com/data/articleimgs/85077-economy.jpg http://www.ibtimes.com/articles/20080703/new-report-expected-to-show-more-job-losses.htm http://www.ibtimes.com/articles/20080703/new-report-expected-to-show-more-job-losses.htm Thu, 03 Jul 2008 18:45:43 EDT Chancellor Angela Merkel's Cabinet approved a draft federal budget for 2009 that foresees an 1.8 percent increase in spending over 2008, the Finance Ministry said Wednesday. http://www.ibtimes.com/articles/20080702/german-cabinet-approves-draft-budget.htm Wed, 02 Jul 2008 13:25:11 EDT Orders to U.S. factories turned in the slowest performance in three months in May as a surge in demand for commercial aircraft was not enough to offset weakness in autos, heavy machinery and steel. http://www.ibtimes.com/data/articleimgs/84436-factory-orders.jpg http://www.ibtimes.com/articles/20080702/factory-orders-post-modest-percent-gain-may.htm http://www.ibtimes.com/articles/20080702/factory-orders-post-modest-percent-gain-may.htm Wed, 02 Jul 2008 18:32:49 EDT