Business News Headlines

KIGALI (Reuters) - Donors will raise aid to Rwanda's budget by 7 percent to 297.9 billion Rwanda francs for the central African nation's 2012/13 fiscal budget, which will focus its spending on health, education, infrastructure, a senior Treasury official said on Tuesday. In the 2011/12 (July-June) budget the donors - who …

Europe came under mounting pressure Tuesday to take action to boost growth as the OECD warned that the eurozone crisis has worsened and poses the greatest risk to a recovery for the global economy.

MOSCOW (Reuters) - Russian President Vladimir Putin named several trusted former cabinet ministers to Kremlin posts on Tuesday, asserting his authority in a move likely to weaken Prime Minister Dmitry Medvedev's new government and undermine its mandate for change.

PARIS (Reuters) - The United States and Japan are leading a fragile developed world recovery that could be blown off course if Europe fails to contain the damage from its problem debtor states, the OECD said on Tuesday.

SINGAPORE, May 22 (IFR) - India's mounting economic and political woes are prompting market players to raise the specter of a Greek-style crisis in Asia's third largest economy.

JALANDHAR, India (Reuters) - Buried in recent monthly data for wholesale prices in India, the wild gyrations of a humble vegetable tell the tale of an economy trapped in inflation by its own rigidities.

Oil recoiled Tuesday, hit by profit-taking and the stronger dollar on the eve of an informal meeting in Brussels where the eurozone's crippling sovereign debt crisis will top of the agenda.

BEIJING/SHANGHAI (Reuters) - China will fast track approvals for infrastructure investment to combat a slowdown in the economy, a state-backed newspaper reported on Tuesday, showing how Premier Wen Jiabao's call for policies to support growth is being put into action.

BERLIN (Reuters) - Support for Germany's opposition Social Democrats (SPD) has jumped since their victory in a regional election, a poll showed, highlighting the increased domestic pressure on Chancellor Angela Merkel as she battles the euro zone crisis.

ATHENS (Reuters) - In a land of ancient myths, modern Greeks have created some of their own about their near-bankrupt country's future as an integral part of a Europe that will never kick them out.

VIENNA (Reuters) - Austrian Finance Minister Maria Fekter dismissed as "nonsense" French President Francois Hollande's approach to resolving the euro zone debt crisis and insisted, in a newspaper interview, on financial discipline.

Youth joblessness is almost back at its peak following the outbreak of the global economic crisis and is unlikely to ease until at least 2016, the International Labour Organization warned Tuesday.

Greece's exit from the eurozone risks causing an "unpredictable" spread of the debt crisis, a scenario which France will work to avoid at all cost, French Finance Minister Pierre Moscovici said Tuesday.