BRUSSELS: EU heads of state and government will meet in Brussels Thursday for a summit focussed on supporting debt-laden Greece and preventing the crisis there from spreading to rest of the eurozone. The Spanish EU presidency announced Wednesday that European nations would offer support to help Greece tackle its unprecedented deficit crisis, which poses a [...]

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Federal Reserve Chairman Ben Bernanke Wednesday detailed how the U.S. central bank will begin to wean the economy off its extraordinary stimulus, even as he stressed it was not yet time to do so. Bernanke said the Fed would likely begin tightening monetary policy by removing cash from the financial system before it turns to [...]

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LONDON: The world faces an oil supply crunch within the next five years, British business leaders led by Virgin tycoon Richard Branson warned on Wednesday. The rate at which oil is produced risks hitting a peak by 2015, sparking a surge in crude prices and living costs, said a report from the UK Industry Taskforce [...]

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VIENNA: The OPEC oil producers’ cartel held its forecast for modest growth in world oil demand this year on Wednesday, but warned the slow pace of economic recovery was clouding the outlook. “The slow pace of the recovery in the world economy in 2010 is putting pressure on oil demand,” the Organization of Petroleum Exporting [...]

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Feb. 11 (Bloomberg) — Australianemployers added the most workers in more than three years in January, sending the currency surging on speculation the central bank will resume its record round of interest-rate increases. The number of people employed rose 52,700 from December, the fifth straight monthly gain, the statistics bureau said in Sydney today. The [...]

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