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Japan mayor ready to apologise to comfort women The maverick mayor of Osaka on Thursday offered to meet former "comfort women" to apologise for their suffering after causing an international storm when he said they served a "necessary" role in wartime.

16 May 2013

BHP to scale back capital spending by a fifth Global mining giant BHP Billiton has outlined plans to slash capital spending by almost a fifth, with new chief executive Andrew Mackenzie warning the brakes could be applied even further.

15 May 2013

G7 talks growth, austerity amid yen concerns The G7 top economies are set for a second day of talks aimed at spurring growth amid US-Europe divisions over the scale of austerity and renewed market focus on "currency wars".

12 May 2013

Sri Lanka cuts lending rates hoping for growth Sri Lanka's central bank Friday cut benchmark lending rates by 50 basis points, saying the move was to designed to encourage growth amid sluggish economic activity this year.

10 May 2013

Panama, in energy crisis, closes schools, universities Up against the wall in a drought-sparked energy crisis, Panama said Tuesday it would shut high schools and universities for three days, in a desperate bid to reduce power usage.

08 May 2013

US billionaire Warren Buffett optimistic on stocks Billionaire Warren Buffett is praising the policies of both President Barack Obama and his predecessor George W. Bush for moving the US economy in the right direction.

06 May 2013

Oil takes breather in Asia after strong rally Oil prices took a breather in Asian trade Friday as investors locked in profits after a strong rally following the European Central Bank's decision to cut interest rates.

03 May 2013

S. Korea vows aid for firms hit by Kaesong exit South Korea on Thursday pledged about $270 million in financial aid for firms hit by the withdrawal from a joint industrial zone in North Korea that has fallen victim to military tensions.

02 May 2013

German unemployment up slightly in April Unemployment in Germany rose in April as companies become more cautious about hiring in face of the slowing economy, but the labour market nevertheless remains robust.

01 May 2013

Best Buy withdraws from Europe US electronic goods retail giant Best Buy confirmed Tuesday it was withdrawing from Europe, selling its stake in its joint venture launched with Carphone Warehouse Group.

30 April 2013

Merkel lambasted by France despite her softer tone An attack by French Socialists on Angela Merkel's drive for belt-tightening coincides with concessions by the German chancellor on austerity, but five months from elections she is loathe to trumpet her flexibility.

30 April 2013

New Italy PM to unveil programme for change Italy's new Prime Minister Enrico Letta was set to unveil his coalition government's programme on Monday, under the watchful gaze of international markets and European partners.

30 April 2013

French ministers warn against picking fight with Germany Senior French ministers warned Monday against picking a fight with Germany after the ruling Socialists accused Chancellor Angela Merkel of being "selfish" in her drive for eurozone austerity.

29 April 2013

Archbishop says OK with irking British PM on economy Archbishop of Canterbury Justin Welby accepted in an interview aired Saturday that he had probably ruffled the British government's feathers with his comments on the bleak state of the economy.

28 April 2013

Spain begs time to fix finances, eyes growth Spain forecast Friday it would climb out of its bitter recession in 2014 but needed two extra years to meet the European Union's target for reining in its public deficit.

27 April 2013

Spanish government in new bid to revive economy Spain's government, seeking to cut its deficit amidst a double-dip recession, is to unveil new measures Friday aimed at reviving the economy, a day after registering record unemployment.

26 April 2013

Putin urges cooperation with US, defends handling of economy Vladimir Putin called for greater anti-terror cooperation with the US and defended his economic policies against a background of rising discontent, in the first nationwide phone-in of his new Kremlin term.

26 April 2013

Moderate leftist Letta nominated to lead Italy An Italian leftist politician, Enrico Letta, was nominated to be the new prime minister on Wednesday, bringing to an end a bitter two-month deadlock on forming a new government.

25 April 2013

S. Korea economy grows at fastest pace for two years South Korea's economy grew at its fastest pace in two years in the first quarter of this year as exports bounced back despite competition from a weak yen.

25 April 2013

Labor migrants generate $1.1 billion a year for Kazakhstan At least 0.57 percent of Kazakhstan's GDP -- $1.1 billion per year -- is generated by labor migrants.

24 April 2013

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