Serbia's economy to shrink by at up to 5 percent, financial minister saysJuly 22nd, 2009 Serbia's economy to shrink beyond IMF estimatesBELGRADE, Serbia — Serbia's recession-hit economy will shrink by up to 5 percent this year, far exceeding estimates by the International Monetary Fund, the country's finance minister said Wednesday. Diana Dragutinovic said the government estimates output will fall between 3.5 and 5 percent this year.
British to send 140 more troops to Afghanistan; remains of 8 killed in action flown homeJuly 14th, 2009 British to send 140 more troops to AfghanistanLONDON — Britain is sending an additional 140 troops to Afghanistan to bolster the war effort there. The Ministry of Defense says the soldiers will be transferred from a British base in Cyprus to the war zone.
World beginning to pull out of recession, says IMFJuly 8th, 2009 WASHINGTON - The world is beginning to pull out of its first recession since World War II, the International Monetary Fund said Wednesday. In an updated economic forecast, the IMF said the global economy was already stabilising, the financial crisis has eased and the recession will end in the second half of this year.
British economy contracts at fastest rate in 51 yearsJune 30th, 2009 LONDON - The British economy shrank by 2.4 percent in the first quarter - the fastest rate of shrinkage in more than 50 years, according to official figures released Tuesday. The Office for National Statistics (ONS) said the contraction between January and March was the fastest since 1958.
Diamond-rich Namibia's economy to shrink by 0.6 percent; mining slows in world economic crisisJune 17th, 2009 Diamond-rich Namibia hit by global slumpWINDHOEK, Namibia — Namibia's central bank governor said Wednesday the diamond-rich southern African nation's economy will shrink by 0.6 percent in 2009 as mining slows in the global economic crisis. Diamond production will fall by 40 percent to 800,000 carat this year, Bank of Namibia governor Tom Alweendo said.
Treasurer says Australian economy forecast to grow 2.25 percent in fiscal 2010-11May 12th, 2009 Australian economy forecast to grow in 2010-11CANBERRA, Australia — Treasurer Wayne Swan says the Australian economy is forecast to shrink half a percentage point in the next fiscal year then rebound to 2.25 percent growth in the following 2010-11 fiscal year. Swan revealed the current Treasury forecasts Tuesday as he released his government's budget for the next fiscal year beginning July 1, 2009.
EU says European Union and euro area will shrink by 4 percent this yearMay 4th, 2009 EU says Europe faces deep and widespread recessionBRUSSELS — The European Union says Europe faces a "deep and widespread recession" and that unemployment will rise sharply over the coming two years. It says both the 27-nation EU and the 16 countries that use the euro currency will shrink 4 percent this year, way more than its previous forecasts.
Japan says economy shrink 3.3 percent this fiscal year, worst since World War IIApril 27th, 2009 Japan says economy to shrink 3.3 pct this yearTOKYO — The Japanese government said Monday the economy is likely to shrink 3.3 percent this fiscal year, its worst contraction since World War II, as exports continue to plummet. "The global economic crisis and economic downturn is increasing in severity, and Japan's export market is rapidly shrinking," the Cabinet Office said in a statement.
Japan says economy shrink 3.3 percent this fiscal year, worst since World War IIApril 27th, 2009 Japan says economy to 3.3 percent this yearTOKYO — The Japanese government said Monday the economy is likely to shrink 3.3 percent this fiscal year, its worst contraction since World War II, as exports continue to plummet. "The global economic crisis and economic downturn is increasing in severity, and Japan's export market is rapidly shrinking," the Cabinet Office said in a statement.
Euro nearly unchanged against dollar at $1.3024 despite dour predictions about German economyApril 23rd, 2009 Euro nearly unchanged against dollar at $1.3024FRANKFURT — The euro was nearly flat against the dollar Thursday despite news that Germany's economy, Europe's largest, was expected to shrink more than 5 percent this year. The 16-nation euro bought $1.3024 in European morning trading, slightly up from the $1.3017 late Wednesday in New York.
IMF warns euro zone to shrink 4.2 percent this year, more action needed to support E. EuropeApril 22nd, 2009 IMF says euro zone to shrink 4.2 percent this yearLONDON — The International Monetary Fund is warning that the countries using the euro currency will see their economies shrink 4.2 percent this year. It says next year will be tough as well but that the economy should start bouncing back sometime in 2010.
Small waistlines, big boobs latest trend among UK womenApril 8th, 2009 LONDON - British women sure know how to make men swoon over them - a new study has found that ladies are working really hard on their bodies, thus making their waistlines shrink and boobs expand. The study of 1,000 women showed that last year, the average bra size for British women under 30 was 36 inches, but now it has thinned to just 34.
Economy will grow by 7 percent: PranabFebruary 11th, 2009 NEW DELHI - The Indian economy will grow by 7 percent this fiscal even as recent projections by global agencies like the International Monetary Fund (IMF) say that advanced countries' economies would shrink by 2 percent, Minister for External Affairs Pranab Mukherjee said here Thursday. 'I am proud to say that in 2008-09 India will still grow by 7 percent,' said Mukherjee while addressing the 81st annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI).
'Alert' government working to ensure economy grows: SoniaFebruary 5th, 2009 NEW DELHI - Congress chief Sonia Gandhi has said that India cannot remain 'unaffected by what is happening elsewhere' but the government 'has been alert' and is taking steps to ensure the economy continues to grow. In a letter to party members in the Congress mouthpiece 'Sandesh', Gandhi said: 'The world economy is going through a recession.
Blow to Brown as IMF says Britain to be worst-hitJanuary 28th, 2009 LONDON - In a further blow to Prime Minister Gordon Brown, the International Monetary Fund (IMF) has warned that the global economic downturn will hit Britain harder than any other rich country. The Washington-based financial institution forecast Wednesday that the British economy would shrink by 2.8 percent this year, twice as much as previously predicted.
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