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Global stocks up sharply on US jobs boost
LONDON: Stocks spiked sharply higher on Friday after forecast-busting US jobs figures reinforced hopes that the recovery in the world’s largest economy is gathering pace at a time when other regions, notably Europe, may be heading back into recession. Figures from the Labour Department showed that employers in the US added 243,000 jobs in January. As well as being the highest in nine months, the gain was around 100,000 more than...
 
 
 
Greek debt deal within reach: EU
BRUSSELS: A deal to restructure some 200 billion euros of privately-held Greek sovereign debt that would pave the way for a new financial rescue is “within reach,” the European Commission said on Friday. “We believe ... that a deal is within reach,” said Amadeu Altafaj, spokesman for the European Union’s top economic affairs commissioner Olli Rehn, At the same time, Altafaj said the negotiations were proving “very difficult” due...
   
China has no intention to ‘buy Europe:’ Wen
BEIJING: China’s Premier Wen Jiabao said on Friday the Asian giant had neither the ability nor the intention to “buy Europe”, amid concerns over growing Chinese investment in debt-stricken eurozone economies. China is “willing to cooperate with Europe to fight the current crisis. Some people say this means China wants to buy Europe”, Wen told a German-China business forum in the southern city of Guangzhou. “This a concern and doe...
 
 
Emirates Dubai-to-Dallas service will enhance UAE-US trade ties
DALLAS: Yousef Al Otaiba, United Arab Emirates (UAE) Ambassador to the United States, on Wednesday said the new Emirates’ Airlines new service from Dubai International Airport to Dallas/Fort Worth International Airport which commenced on February 2, will enhance trade and diplomatic relations between the UAE and the US. “We are in Dallas/Fort Worth to celebrate more than the launch of the new Emirates flight. In many ways,...
   
IMF should proceed to ‘up the size’ of warchest
TOKYO: The International Monetary Fund should proceed with talks on increasing the size of its warchest at the same time as Europe discusses how to build a firewall to contain its debt crisis, a senior official from the fund said on Friday. Emerging countries understand the need to boost the IMF’s resources as Europe’s debt crisis threatens the global economy, IMF Deputy Managing Director Naoyuki Shinohara said, signalling expecta...
 
 
We are not seeking higher inflation, says Bernanke
WASHINGTON: Federal Reserve Chairman Ben S. Bernanke defended the central bank’s newly established price goal and rejected suggestions he was prepared to allow higher inflation to create jobs. “We are not seeking higher inflation,” Bernanke said in response to questioning from Republican Representative Paul Ryan of Wisconsin, chairman of the House Budget Committee. “We do not want higher inflation and we’re not tolerating higher...


 
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