China's central bank on Monday fixed its rate for the yuan currency at a four-week low, data showed, despite comments by chief Zhou Xiaochuan that there was no basis for further depreciation.
The People's Bank of China (PBoC) set the yuan at 6.5452 to $1.0, down 0.17 percent from Friday, according to the China Foreign Exchange Trade System. The fix was the weakest since February 3, previous figures showed.Full Story
Oil prices rose Monday, boosted by hopes strengthening growth in top consumer the United States will soak up some of the global supply glut that has weighed on markets.
At around 0600 GMT, the U.S. benchmark West Texas Intermediate for delivery in April had risen two cents to $32.80 a barrel on the New York Mercantile Exchange.Full Story
French farmers dumped flour over the stand of a leading meat producer at the country's annual farm show Sunday, a day after they heckled President Francois Hollande as he arrived at the event.
The farmers' anger has boiled over after months of protests over a crisis in the agricultural sector sparked by collapsing beef, pork and milk sales and augmented by a price war with wholesalers.Full Story
Finance officials of the world's biggest economies promised Saturday to use "all tools" to shore up sagging global growth and to avoid devaluing their currencies to boost exports, but made no pledges of joint action.
Finance ministers and central bankers of the Group of 20 rich and developing countries tried to reassure jittery financial markets that the global economy is healthy, though they acknowledged in a statement that they "need to do more" to boost growth.Full Story
China's normally reclusive central bank chief Zhou Xiaochuan is an unusually prominent presence at the G20 finance ministers meeting in Shanghai, racing from seminar to news conference to spread positive messages about the world's second-largest economy.
After months of silence, the governor of the People's Bank of China (PBoC) wants investors to know that the yuan currency -- also known as the renminbi (RMB) -- will be stable despite the slowest growth in a quarter of a century.Full Story
President Francois Hollande was heckled Saturday as France's annual agricultural fair kicked off against the backdrop of the "worst crisis ever" facing the country's farmers.
Livestock farmers booed and whistled as Hollande and Agriculture Minister Stephane Le Foll made their way through the vast hall in southern Paris, walking past a large banner reading: "I am the best in my profession but my passion is no longer enough."Full Story
Global stock markets rallied Friday helped by firmer oil prices and brighter-than-expected U.S. growth data, as finance and banking chiefs from the world's leading economies began talks.
European bourses followed a strong showing by Asia's main indices as G20 finance ministers and central bankers gathered in Shanghai to thrash out remedies to kickstart growth.Full Story
There is no reason for China's yuan currency to keep falling and Beijing has more room to boost the world's second-largest economy, the governor of its central bank said Friday as he sought to reassure markets.
The comments by Zhou Xiaochuan, head of the People's Bank of China (PBoC), in Shanghai came ahead of a meeting of finance ministers from the world's top 20 economies in the city, China's commercial hub.Full Story
The shale fracking revolution in the U.S. oil and gas industry has achieved a milestone: the first export of liquefied natural gas from the country outside of Alaska.
The tanker Asia Vision was loaded with a cargo of LNG by Texas firm Cheniere Energy at the Sabine Pass terminal in Louisiana late Wednesday and immediately left for Brazil.Full Story
With little hope for the world economy picking up pace soon, governments must tackle reforms at home to kickstart growth, the OECD said on Friday.
Promoting entrepreneurship, labour mobility and higher productivity were all on the menu of the Organisation for Economic Cooperation and Development's (OECD) recommendations to policymakers.Full Story