INTERNATIONALDozens injured in Oslo explosion
A massive explosion rocked central Oslo on Friday, injuring dozens of people and severely damaging government buildings including the Prime Minister’s office.
There were no immediate reports of casualties from the blast, which occurred at the government headquarters which house the offices of Jens Stoltenberg.
China makes nuclear power breakthrough
BEIJING, (AFP): China said Friday it had hooked its first so-called “fourth generation” nuclear reactor to the grid, a breakthrough that could eventually reduce its reliance on uranium imports
Struggling Indian economy hardens case to end policy tightening
MUMBAI, (Reuters): India is nearing the end of its credit tightening cycle, as 10 interest rate increases since March 2010 exact a toll on growth in a once-roaring economy, making Tuesday’s expected rate rise potentially the last for the near future.
India cuts growth forecast as rate hikes bite
NEW DELHI, (AFP): India on Wednesday cut its growth forecast for this financial year to 8.6 percent from nine percent following a string of interest rate hikes introduced to tame inflation.
The finance ministry’s forecast is above last year’s expansion of 8.5 percent and higher than most private economists’ expectations, which fall as low as 7.5 percent.
American Airlines in ‘largest ever aviation order’ with Boeing, Airbus
Reuters: AMR Corp, parent of American Airlines, said on Wednesday it would buy 460 narrowbody planes in a historic deal that gives Europe’s Airbus a new toehold in U.S. markets and forces Boeing Co to put a new engine in its best-selling airplane.
The order, which AMR says is the largest in aviation history, is valued at nearly $40 billion and calls for American to buy 200 Boeing 737s and 260 Airbus A320s. The deal comes after tense haggling as American Airlines played the world’s two largest plane makers off each other.
Asian shares rise on US debt plan hopes
HONG KONG, (AFP) : Asian stocks mostly rose on Wednesday after US President Barack Obama threw his weight behind a plan to slash the country’s deficit that could see the country avoid a devastating default.
Tech firms, particularly in South Korea, were boosted by strong earnings reports from US giants Apple and IBM while the confident mood saw dealers shift away from safe-haven assets, sending the price of gold down from record highs.
Clinton wants to improve economic ties on India visit
NEW DELHI (Reuters): U.S. Secretary of State Hillary Clinton hopes to cement gains in ties with emerging global power India during talks in New Delhi on Tuesday while heading off new frictions with fragile U.S. ally Pakistan.
Asia braces for direct hit from the West’s debt woes
Reuters: For Asia, the deepening debt troubles in the West are like a giant asteroid on a collision course – too big to dodge or ignore, and difficult to pinpoint precisely where the worst damage will be done.
Asia slowdown to cool inflation; global threats grow
SINGAPORE (Reuters): Asia’s major economies are set for a modest slowdown in coming months, while next year’s growth prospects hinge on how quickly inflation cools at home and demand recovers abroad, a Reuters poll showed.
Economists have trimmed their 2011 and 2012 growth forecasts for China, India, and a handful of the other economies in the region since the last quarterly poll of Asian countries excluding Japan, conducted three months ago.
World economy to keep strong but risks abound: Reuters poll
LONDON (Reuters): The world economy should expand steadily this year and next thanks mainly to prospering emerging powers, a Reuters poll showed, but fiscal troubles lurking in Europe and potentially the United States risk blowing this view apart.
The quarterly survey of more than 350 economists from all over the world showed a dimmer outlook for most of the rich-world Group of Seven economies since the last survey in April.
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