Global Financial Crisis – International

US chipmaker Intel has reported a better-than-expected net profit of $1bn (£610m) for April to June, excluding a massive European Commission fine.

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From the top of Singapore’s Equinox bar you can see the city skyline and ship after ship after ship. Singapore claims to be the busiest port in the world.

The Philippines’ economy will contract this year for the first time in 11 years, the World Bank said yesterday, cutting its 2009 growth forecast for the country to minus 0.5 percent.

Worldwide economic growth is expected to recover to 2.5% in 2010, says the International Monetary Fund (IMF).

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L’AQUILA, Italy (AFP) – G8 leaders gathering here Wednesday faced deepening crises in Iran and China and a warning that the worst political and social effects of the global economic downturn are still to come.

L’AQULA, Italy – Britain and the United States may see room for more stimulus. Germany is worried that it has done too much already.

WASHINGTON (AP) — The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It’s the national debt.

WASHINGTON (AFP) — The US private sector shed 473,000 jobs in June, a survey by payrolls firm ADP showed Wednesday, highlighting ongoing weakness in the labor market despite signs the economy is stabilizing.

GENEVA (AFP) – The World Trade Organisation warned Wednesday of rising protectionism amid the economic crisis as it sharply cut its forecast for trade volumes of developed and developing economies this year.

The unemployment rate across the 16 countries using the euro rose to 9.5% in May from 9.3% in April, data from the Eurostat agency has shown.

WASHINGTON (AFP) – Halfway through 2009, the US economy is still struggling in recession amid fragile hopes for recovery by the end of the year.

TOKYO: Japan’s business executives have become more confident for the first time since 2006, the country’s central bank has said, supporting hopes the worst recession since World War II is easing.

ManilaAsia’s recession appears to have touched bottom and the region is likely to be the first to climb out of the global economic slowdown, the Asian Development Bank’s chief economist said Thursday.

UNITED NATIONS – More than 140 countries agreed Friday on a blueprint for a global response to the world’s worst economic crisis in 70 years, which gives the UN a new role in representing hard-hit developing countries but leaves some demands by rich and poor countries unmet.

UNITED NATIONS–A UN conference ended here Friday with broad consensus on the need to help developing nations cope with the global financial crisis but with the United States voicing strong reservations about key recommendations.

BASEL (AFP) – The head of the international body tasked with restoring stability to the world’s financial system said Saturday that the system had improved significantly but was “not out of the woods yet.

When the financial crisis predictably turned into a jobs crisis, the Asia-Pacific region found itself facing mass unemployment. As many as 100 million people in Asia could be unemployed this year, according to ILO estimates. Allan Dow, ILO press officer, reports from Thailand.

Print US consumer spending posted a modest gain in May but savings vaulted amid massive government stimulus spending aimed at pulling the economy out of recession, official data showed Friday.

NEW YORK – The world’s population of millionaires shrank dramatically last year as the global economic crisis took its toll on the wealthy, according to a report by Merrill Lynch Global Wealth Management and consulting firm Capgemini.

The Organisation for Economic Cooperation and Development says the world economy is near the bottom of the worst recession in post-war history.

BODRUM, Turkey (Reuters) –The International Monetary Fund is likely to revise up its 2010 growth forecast for the world economy with signs that the rate of decline in global output has moderated, a senior IMF official said on Friday.

Brussels, (ITUC OnLine): The adoption of a landmark Global Jobs Pact http://www.ilo.org/global/What_we_do/Officialmeetings/ilc/ILCSessions/98thSession/pr/lang–en/docName–WCMS_108437/index.htm by governments, trade unions and employers at the annual ILO Conference today provides a realistic and workable template for economic recovery and reform, according to the ITUC.

SEOUL: The global economic crisis is also a social crisis in Asia, with an estimated 60 million people remaining mired in poverty because of falling growth rates, according to an Asian Development Bank (ADB) executive.

Upbeat economy to happen at end year MEXICO CITY: Economic recovery in the Organization of Economic Cooperation and Development (OECD) group of rich countries will begin at around the end of the year, the organization’s head said Tuesday, adding that the worst of Mexico’s recession was over.

WASHINGTON, D.C.: The International Monetary Fund (IMF) projected Monday the United States would make a “solid” recovery from recession in mid-2010, but warned of major risks including the real-estate crisis and rising interest rates.

The US economy should emerge from recession by the late summer, according to economists from some of the country’s top banks.

INTERNATIONAL passenger traffic in the Philippines fell in the first three months of the year due to the global economic crisis, the Civil Aeronautics Board (CAB) said Monday.