TOKYO, Nov. 8 (Xinhua) — Tokyo stocks closed lower Tuesday, with the benchmark Nikkei stock index losing 1.27 percent on investor caution over Italy’s political situation and Olympus Corp ‘s. admission that it covered up massive losses compounded a pessimistic market mood.

Tokyo-based brokers said that sentiment turned sour on Tuesday following the revelation that imaging and life science firm Olympus inflated payments to advisors during four of the firm’s acquisitions and wrote down deals to conceal massive losses the firm incurred during the 1990s. Continue Reading

VIENTIANE — The Lao stock market closed on Monday with composite index unchanged at 904.99.

A total of 55,796 shares worth about 408 million Lao kip (about 51,000 U.S. dollars) changed hands at the stock market. Continue Reading

TOKYO, Nov. 7 (Xinhua) — Tokyo stocks closed lower Monday, with the benchmark Nikkei stock index dropping 0.39 percent, as political turmoil in the eurozone and the potential to compound the region’s financial woes contributed to a circumspect market mood. Continue Reading

CANNES, France, Nov. 4 (Xinhua) — The leaders of the Group of Twenty (G20) economies agreed on Friday to secure sustainable growth in coordinated efforts but with respective focuses, as economic uncertainties add to global challenges.

Despite a Greek referendum drama which threatened to derail EU efforts to defuse a debt crisis, French President Nicolas Sarkozy tried hard throughout the two-day summit to push previously designed G20 agenda, including global growth commitments, back on track.

“Today, we reaffirm our commitment to work together and we have taken decisions to reinvigorate economic growth, create jobs, ensure financial stability, promote social inclusion and Continue Reading

CANNES, France — Chinese President Hu Jintao on Thursday urged the world’s major economies to work together to promote growth and financial stability.

“It is imperative that we stand on a higher plane, transcend differences on specific issues, move beyond short-term considerations, and jointly seek ways to overcome the crisis and sustain development,” Hu told the Group of 20 (G20) summit here. Continue Reading

TOKYO, Nov. 4 (Xinhua) — Tokyo stocks climbed on Friday, with the benchmark Nikkei stock index gaining 1.86 percent as Greek Prime Minister George Papandreou backed away from a referendum that could potentially derail a bailout plan for debt-plagued Greece and risk aversion was reversed following better-than- expected factory orders in the United States. Continue Reading

CANNES, France, Nov.3 (Xinhua) — China will purposely further increase its imports from eurozone countries in the future, to help them recover from the debt crisis, Chinese Minister of Commerce Chen Deming said here on Thursday evening.

“Every year we organize all kinds of small, medium and large-size purchasing groups to Europe, and from now on, we will pay special attention to the eurozone countries,” he said in a press conference on the sidelines of the two-day Group of Twenty (G20) leaders’ summit. Continue Reading

NEW DELHI, Nov. 3 (Xinhua) — India’s food inflation rose to 12. 21 percent — the highest in nine months, at the week ended on Oct. 22, reported Indo-Asian News Service Thursday.

Prices of pulses, vegetables and milk and poultry all rose as compared with the previous week ended Oct. 15, which saw a food inflation rate of 11.43 percent.

Meanwhile, the headline inflation based on the wholesale price index was recorded at 9.72 percent in September in India, said the report quoting latest official data.

The headline inflation also includes manufactured goods.

by Wang Fan

BEIJING, Nov. 3 (Xinhua) — The eurozone debt crisis would be among the most urgent issues facing leaders of the world’s major economies as they are gathering in the French city of Cannes Thursday for the G20 summit.

The debt issue became more pressing after Greek Prime Minister George Papandreou announced Monday he would hold a referendum on a rescue deal for his heavily indebted country.

Papandreou’s shock move prompted France and Germany to invite him for an emergency meeting in Cannes Wednesday, the day before the summit. French and German leaders told the Greek prime minister to focus the vote on whether Greece should stay in the eurozone rather than on the rescue plan, which was hammered out last week by Europe’s leaders. Continue Reading

CANNES, France, Nov. 3 (Xinhua) — The most important task for the G20 leaders’ summit this year is to solve the financial crisis in Europe, U.S. President Barack Obama said here on Thursday morning.

Obama made the remarks in a joint press conference with French President Nicolas Sarkozy after arriving in the French resort city of Cannes to attend the two-day summit which will begin in the afternoon.

Sarkozy, whose country holds the G20 presidency this year, also urged the U.S. to play a leading role in contributing to the global economic growth as well as to the tackling of the eurozone debt crisis as it had been undermining global economic recovery.

The G20 summit which brings together leaders of the world’s major economies has been widely speculated to be dominated by the latest eurozone debt drama after Greek Prime Minister George Papandreou announced earlier this week to put the EU’s new round of bailout package to a referendum.

WASHINGTON — The United States is to push its trade agenda in next week’s Asia Pacific Economic Cooperation (APEC) forum in Hawaii, using the gathering of heads of 21 major economies to advance the Trans-Pacific Partnership (TPP) and create more U.S. exporting jobs, U.S. experts said Tuesday.

“If we are going to move out of this recession, Asia is going to be part of that equation,” said Ernest Bower, senior adviser and director of Southeast Asia Program at the Center for Strategic and International Studies (CSIS), a Washington think tank. Continue Reading

BEIJING, Nov. 2 (Xinhua) — Chinese President Hu Jintao said Wednesday that China will work with France to promote a positive and pragmatic G20 summit in order to help set the world economy on a path toward strong growth as soon as possible.

Hu made the remarks in a written interview with the French daily newspaper Le Figaro ahead of his attendance at the G20 summit, which is scheduled for Nov. 3 to 4 in Cannes, France.

He said China attaches importance to coordinating and cooperating with France within the G20 framework, and will support France in successfully hosting the Cannes summit. Continue Reading