G20 to commit millions of dollars for new, innovative SME financing models
The Group of 20 at its summit in Seoul is likely to commit millions of dollars fund to help finance small and medium enterprises and innovative financing models.
G20 leaders enter final innings of summit
There has been “big progress” in the negotiations between world political leaders as they seek to hammer out an agreement and compromise on major economic issues on the final day of the G20 summit in Seoul, South Korea.
Don’t cut aid to poor countries, advocates say
Aid to developing nations is not a major issue at the G-20 Summit, but at least one NGO says it should be.
Protestors march against G-20 and Korean government
Carrying flags representing their various organizations, and hundreds of cardboard stop signs declaring Stop the G-20!, approximately 4,000 protestors marched Thursday afternoon from Seoul Station through the Dongsam-gu district shouting slogans and singing labor hymns, while thunder rolled, rain fell and a silent column of hundreds of riot police in yellow slickers and wielding neon batons kept pace along the marchers' flank.
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Russian officer blew cover of 'spy ring' in US, says paper
The arrest of Russian spies in the US and the ensuing spy-swap was the result of the betrayal of a Russian intelligence officer, a Moscow newspaper reported on Thursday. Kommersant, the paper, claimed that Col. Shcherbakov, who worked for Russia's Foreign Intelligence Service (SVR), blew the cover of his unit.
US denies Indian claim on child labor in carpet industry
U.S. labor department has denied that it has removed Indian carpets from a list of products produced by forced labor or child labor in violation of international norms.
Iraq vote standoff dissolves; coalition backs Maliki for PM
Iraqi political parties have broken a record 249-day post-election impasse and agreed to form a government, handing another prime ministerial term to Shia leader Nouri al-Maliki.
Save the children, achieve recovery: NGOs tell G20 leaders
The G20 urgently needs to agree on steps to achive recovery from the global economic crisis, failing which children will be the most affected, says 'Save the Children', a UK-based non-profit organization, on the sidelines of the G20 summit in Seoul.
Moody's upgrades China's 3 big banks, government bond rating to Aa3
Moody's Investor Service upgraded China's 3 big policy banks and Chinese government's bond rating to Aa3 from A1.
Pressure piles on Greece to harden fiscal measures
Greece's budget problems are far from over, as its deficit is likely to have narrowed much less sharply than the Government had predicted, Capital Economics said in a note. Greece will now come under heavy pressure to implement an even more draconian fiscal squeeze, Ben May, a European economist with Capital Economics, said.
US-South Korea free trade pact trips over autos, beef
The U.S.-South Korea free trade talks broke down as the two sides failed to resolve principal differences over U.S. beef and auto exports to South Korean markets, but Presidents Barack Obama and Lee Myung-bak said they still hoped the deal could be clinched.
G20 focus on currency row may leave behind development goals, say NGOs
The global slump has pushed 64 million people into extreme poverty or living off with less than $1.25 a day, says an estimate of the World Bank. Oxfam, another non-profit said its research showed 56 poor countries face a $65-billion fiscal hole in their budgets.
UK PM praises Korea’s advanced economy; outlines G20 themes
At the closing plenary session of the G20 business summit in Seoul, South Korea, David Cameron, the British Prime Minister, praised the host country’s miraculous economic advances and also highlighted some major themes underlying the purpose of the G20.
Seoul G20 Business Summit Joint Statement by Participating Companies
The joint statement by participating companies at the G20 business summit in Seoul, Korea, as of Nov. 11, 2010
G20 Calls For Nations To Work Together, But Many Drift Away
G20 leaders say they want nations to coordinate economic policy, but even the host country is looking out for number one.
Aussie PM champions infrastructure build-out at G20
The Prime Minister of Australia, Julia Gillard, championed infrastructure investments across both the emerging markets and developed nations as a key part of maintaining a global economic recovery.
Resist protectionism, group says
Angel Gurria, Secretary- General of the Organization for Economic Cooperation and Development, an organization consulted by the nations of the world, including most of the nations of the G-20, put the very complex matter of what the G-20 is attempting to do at its summit in Seoul this week, in simple and precise terms.
Merkel calls for “sensible” exit strategy
In a wide-ranging and rambling speech during a luncheon at the G20 Business summit in Seoul, Korea, Germany’s chancellor Angela Merkel called for a “sensible” exit strategy from the global credit crisis.
Business Leaders To Hash Out Green Growth Strategy
A big point of contention at the G20 Business Summit is how to reconcile the need for growth with the need to address environmental problems.
Glass ceiling breaks at G20
One of the most interesting – and perhaps under-reported -- aspects of the G20 summit in Seoul is the four female political leaders in attendance. According to press reports, no prior G20 summit has had this many women heads of state.
G20 agrees on reducing reliance on CRA ratings
The G20 Seoul summit has agreed the BASEL III recommendation on reducing reliance on credit rating agencies (CRAs) but the onus of effecting rules relies on individual nations, said a spokesperson at the summit media centre on Thursday.
UK-Korea seek increased trade and investment
Britain’s Prime Minister David Cameron and South Korean President Lee Myung-bak agreed to increase trade and investment between the two countries in a meeting prior to Thursday’s opening of the G-20 summit in Seoul.
Korea head calls for more corporate investment into Africa
The president of South Korea, Lee Myung-bak, has called for more corporate investment into Africa and other poverty-stricken regions of the world, as part of a comprehensive program to encourage the private sector to spur sustained global economic growth.
Emerging G20 nations to brace for 'tsunami' of dollars as currency row persists
The Group of 20 (G20) leaders in Seoul could not thrash out any agreement on contentious forex and currency issues though talks ran through past midnight on Wednesday, said a spokesman at the summit media hall on Thursday morning.
Debt commission's proposal gets varied reception
Not unexpectedly, the preliminary proposal of President’s Obama’s bipartisan Commission on Fiscal Responsibility and Reform has met with mixed reviews, from “unacceptable” to “most encouraging.”
U.S. deficit panel unveils proposal to save $4 trillion by 2020
The National Commission on Fiscal Responsibility and Reform, a bipartisan commission recently created by President Obama, unveiled a proposal that could save the U.S. government nearly $4 trillion from 2012 to 2020.
Class struggle at the G20 summit
Two things are always present at G20 summits: the gathering of the most powerful international elites and the gathering of common citizens and workers to protests against them.
US trade deficit narrows, but stays high with China
Goods and services trade deficit in the U.S. narrowed in the month of September from the previous month, but still remained high with China, according to a report released by the U.S. Commerce Department.
Vestas CEO wants an hour with G20 leaders
The CEO of Vestas, a major supplier of wind turbines, is asking for heads of state to meet for an hour to help come up with methods of weaning the world from fossil fuels.
G20 assesses the impact of poor health care in developing world
One of the greatest challenges facing the developing world lies with their limited access to quality healthcare, a situation that threatens to jeopardize or undermine economic growth in these nations.
Korea Pushes National Brand At G20
The Korean government is using the G20 as a chance to boost prestige, using the concept of branding.
Where are the Fed's newly-printed dollars going?
To the dismay of policy makers, the newly-printed dollars of the Federal Reserve has not found its way to the real U.S. economy in the form of loans to small businesses and consumers. A key question is if they are sitting in the U.S. financial system or flowing to emerging market economies.
Lee to raise North Korean nuclear program issue with 5 allies at G20 Seoul summit
South Korea will raise the North Korean nuclear program when President Lee Myung-bak holds bilateral talkswith the heads of six nations which are party to Six-Nation Talks, on the sidelines of the G20 Seoul summit.
China not too happy with Fed's QE2
China is not too pleased with America's plan to inject more capital into its economy in the form of a second round of quantitative easing.
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