TRIPOLI, Dec 7- Libya has lost more than $7 billion and faces new competition from Algeria and Nigeria in oil markets due to strikes at oilfields and ports drying up exports, Oil Minister Abdelbari al-Arusi said on Saturday. Arusi said Libya had lost 9 billion Libyan dinars in oil revenues after output had fallen to 250,000 barrels a day from 1.4 million bpd in July.» Read More
Higher energy and food prices saw Japan's core consumer prices record their first annual rise in 10 months in October, but the modest 0.1 percent gain only slightly boosted expectations of a rate hike early next year.
Australian business investment unexpectedly fell last quarter as the booming mining sector took a breather, though firms still upgraded already ambitious spending plans for coming months.
Japan's industrial production rose in October from September, signalling firm corporate activity and steady exports, but the data did little to alter views that the Bank of Japan will not raise interest rates until next year.
China could be moving in the direction advocated by Europe of a stronger yuan, European officials said. The ECB and the People's Bank of China would set up a working group at once to examine currency issues.
China and the 13 countries using the single European currency agreed on Tuesday to cooperate to reduce global economic imbalances while heading off lurches in exchange rates.
A parade of economic data in the next couple weeks will tell volumes about the economy and the Fed’s chances for achieving a soft landing.
French President Nicolas Sarkozy called publicly on Chinese President Hu Jintao to let the yuan rise more swiftly against the euro.
French President Nicolas Sarkozy visits China next week, hoping to capture billions of dollars in energy and aviation deals while taking a tough stand on global currency turmoil.
China will clamp down on new investment projects to help keep growth in the world's fourth-largest economy on an even keel, the government said on Wednesday.
Japan's exports hit a record high in October and the trade surplus jumped by two-thirds from a year earlier, though the increase was slightly less than forecast, raising concerns that a slowing U.S. economy will hurt Japan's export-led growth.
China's industrial production slowed more than expected in October under the weight of government tightening measures, but growth was still by far the strongest of any major economy.
Soaring food costs drove up China's inflation in October, reinforcing expectations that the Chinese retail sales jumped 18.1 percent in October from a year earlier, the fastest pace on record, propelled by rising incomes, accelerating inflation and windfall gains from the surging stock market.
The 986,000 square meter terminal is a crucial addition to the overstrained airport ahead of the Beijing Olympics next August. The airport has a design capacity of 35 million passengers but last year handled 48.7 million.
Athletes and companies alike are looking forward to the opportunity to shine under the spotlight in what will be a special event in the history of the Olympic games.
Japan's economy grew faster than expected in the third quarter, but the Bank of Japan kept interest rates on hold in the face of market turmoil that has sent both stocks and the dollar sliding.
Soaring food costs drove up China's inflation in October, reinforcing expectations that the central bank will raise interest rates again before long to keep a lid on price pressures. Consumer price inflation quickened to 6.5 percent in October, matching the near 11-year peak scaled in August, from 6.2 percent in September.
China on Monday posted a record trade surplus for October, but the total was smaller than expected, as climbing raw material costs and strengthening domestic demand gave a boost to imports.
Japanese wholesale prices rose slightly more than expected in October from a year earlier on rising oil prices, but investors, preoccupied with global markets, stuck to the view that the Bank of Japan will wait until next year to lift rates.
The House on Thursday passed a free trade pact with Peru, bringing President Bush to the brink of his first trade victory since Democrats took control of Congress.
Japanese machinery orders rose in the July-September period and are forecast to keep going this quarter, supporting the growth outlook for the economy, but financial market turmoil looks set to keep a lid on interest rates for the next few months.