G7 leaders vow cooperation as global econ worries rise
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Finance leaders from the world's richest nations pledged on Saturday to work together to stabilize world financial markets shaken by the U.S. housing debacle that is puncturing global economic growth.
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The G-8 summit that President Bush and seven other world leaders are attending next weekend in Russia is often billed as a gathering of the world&#039;s leading economic powers.
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World finance chiefs meeting in Washington this week will express satisfaction with a rebounding global economy, but also highlight risks from surging oil prices, turmoil in Iraq and other factors.
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Finance ministers and central bank chiefs from the world's 20 biggest economies voiced concern on Saturday over sudden currency swings, venturing for the first time into the territory of the more influential Group of Seven.
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High oil prices pose a risk to the global economy, but the economic outlook for 2005 is still favorable, the Group of Seven nations said in a statement following their meeting on Friday.
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Leaders from China, Russia and four Central Asian countries agreed yesterday to boost economic cooperation to strengthen joint efforts in the fight against terrorism.
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Leaders of the Group of Eight said Sunday that they were committed to transparency, competition and increased investment in the energy sector in a joint statement on energy security, a focal theme of this year&#039;s G-8 summit.
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WASHINGTON - Declaring that high oil prices are a threat to the global economy, the world's industrialized countries urged producers Friday to provide price relief by boosting supplies.    The Group of Seven countries - the United States, Japan, Germany, France, Britain, Italy and Canada - also resolved to agree on providing battered Iraq with relief from its massive debt burden while also working on a deal to increase debt relief for the world's poorest countries...
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High oil prices pose a risk to the  global economy, but the economic outlook for 2005 is still  favorable, the Group of Seven nations said in a statement  following their meeting on Friday.
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The world's top finance officials on  Friday asked oil-producing nations to step up production and  agreed it was crucial to work out exactly why prices have  soared to levels that threaten global growth.
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Business & money: Finance chiefs from the G7 warn the global economy will slow down as a result of US mortgage crisis
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A communique from the G20 group of rich  and developing countries made no explicit reference to currency  swings on Sunday, despite mounting concern in Europe and Japan  over a slide in the U.S. dollar to multi-year lows.
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Europe and Japan voiced strong concern  on Saturday over the slumping dollar but the world's 20 biggest  economies, nearing the end of a two-day summit, looked divided  over what if anything to do about it.
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The world's leading industrial  countries are enjoying strong growth but face the risk of  rising inflationary expectations, tight energy markets and  spreading protectionism, a draft communique of the Group of  Seven rich nations says.
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The IMF, World Bank and G7 finance ministers will say that the world economy has a vibrant heartbeat when they meet next week in Singapore, but tremors are present in the form of slowing US growth and high oil prices.
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Finance ministers and central bankers of the Group of 20 countries (G20) kicked off a two-day meeting here Saturday to assess the current economic situation and global growth prospects.
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Pacific Rim leaders pledged Sunday to shore up global security and push ahead with the World Trade Organization's negotiations on lowering global trade barriers.