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Global Recovery Under Threat, says OECD

According to the Organisation for Economic Co-operation and Development (OECD), decisive policy action is needed to ensure the world is not “plunged back into recession.” The OECD, which represents the world’s richest nations, also lowered its growth forecasts. The group’s

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US-China responsible for the global growth- Obama

U.S. President Barack Obama told Chinese Premier Wen Jiabao on Tuesday that their two countries had a “special responsibility” to lead the way on balanced, sustained global economic growth. “As the two largest economies in the world, we have a

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Oil Prices Plunge amid Slow Global Economic Growth

Oil traded near US$79 a barrel Friday in Asia, rising slightly after signs of slowing global economic growth triggered a sharp plunge in the oil price this week. Benchmark oil for August delivery was up 51 cents to $78.71 a

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IMF sees 'optimism return' as faster growth predicted

The International Monetary Fund (IMF) has said that “some optimism has returned” to the global economy and has predicted slightly faster growth. The IMF revised world economic growth for 2012 to 3.5%, up from its previous forecast of 3.3%. It

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IMF sees ‘optimism return’ as faster growth predicted

The International Monetary Fund (IMF) has said that “some optimism has returned” to the global economy and has predicted slightly faster growth. The IMF revised world economic growth for 2012 to 3.5%, up from its previous forecast of 3.3%. It

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