CAIRNS, Australia, Sept 21- Following is the text of the communique issued after on Sunday the meeting of finance ministers and central bankers from the Group of 20 leading nations in the Australian city of Cairns.» Read More
Brazil raised its benchmark interest rate to a 16-month high of 9 percent on Wednesday, maintaining the pace of monetary tightening to fight inflation and rebuild investors' confidence in Latin America's largest economy.
Alex Travelli, Hong Kong Bureau Chief at The Economist says the stupendous growth that emerging markets experienced in the last decade has ended.
The Group of 20 nations, wary of renewed market volatility, is stressing the need to shift policy carefully and communicate clearly as countries try to chart a course to recovery.
The investment bank has ended a recommendation to buy a basket of U.S. stocks with highest sales exposure to Brazil, Russia, India and China, another sign of weakening sentiment towards emerging markets.
European leaders agreed on new steps to fight youth unemployment and promote lending to credit-starved small business on Thursday after deals on banking resolution and the long-term EU budget.
Market veterans Marc Faber and Jim O'Neill — known as Dr. Doom and Mr. BRIC respectively — posted opposite views when asked if the Chinese liquidity crunch was real.
Relaxed legislation and booming profits are just two reasons why Russia's biggest mobile service provider will not bother expanding into other countries, the firm's chief executive said.
Russia must urgently reform its energy sector if it is to remain a global player in the energy markets, according to experts speaking at the St. Petersburg International Economic Forum.
Investors need to calm down and act rationally, Oleg Deripaska, the CEO of the world's largest aluminum company Rusal, said on Thursday.
China's new leaders have adopted a greater tolerance for a slowdown in the economy than their predecessors and are likely to allow quarterly growth to slip as far as 7 percent before triggering fresh stimulus.
Russia is set for 10 years of anemic growth, according to economists, who said the slowdown is predominantly due to low investment and structural factors.
Jim O'Neill, outgoing chair of asset management at Goldman Sachs, discusses the BRICs' performance to date and how no other emerging country is yet to come close to compete with them.
An early peek this week at how the euro zone economy performed in April could cement the case for the next installment in monetary easing by the world's major central banks.
Finance leaders of the G-20 economies on Friday edged away from a long-running drive toward government austerity in rich nations, rejecting the idea of setting hard targets for reducing national debt in a sign of worries over a sluggish global recovery.
Russia's inflation level remains too high and reducing it is the key priority, according to the woman set up to take charge of the country's central bank in June.
The euro zone will slow its budgetary belt-tightening to help reinvigorate economic growth, a top EU official said on Thursday.
When financial leaders of the G20 get together this week, they'll mull a plan to slash debt to well below 90 percent of GDP.
Cyprus plans to lift a ban on casinos and offer firms tax exemptions on profits reinvested on the island under a package of reforms to kickstart its ailing economy, its president said on Monday.
Cyprus is to impose a ban on cashing checks and limit the amount of cash that can be taken out of the country, a Greek newspaper reported on Wednesday.
Leaders of the five BRICS nations plan to create a development bank in a direct challenge to the World Bank that they accuse of Western bias. The bank would use $50 billion of seed capital shared equally but dominated by China.