World economy
![Developed economies in recession Developed economies in recession](/economy/worldeconomy/images/domainb_Inflation.jpg)
Developed economies in recession
18 Nov 2008
With almost all developed economies, including the US, Japan, Germany and the UK, contracting over the last two quarters, other countries, including the developing and the least developed, are also slowly being sucked into a recessionary phase.
![US tightens rules for foreign investors US tightens rules for foreign investors](/economy/worldeconomy/images/henry_paulson_sm_domain-b.jpg)
US tightens rules for foreign investors
17 Nov 2008
The US Treasury has announced new rules that make even transactions in which a foreign entity acquires less than a 10 per cent stake in a US business subject to review by the Committee on Foreign Investment in the United States
IMF bails out Pakistan with $7.6 billion loan
17 Nov 2008
![G-20's Washington summit: The old order changeth, yielding place to new G-20's Washington summit: The old order changeth, yielding place to new](/economy/worldeconomy/images/G-20_logo_domain-b.jpg)
G-20's Washington summit: The old order changeth, yielding place to new
17 Nov 2008
In spite of widespread scepticism, the G-20's Washington Summit has evolved a far-reaching action plan that will now begin to reshape international financial institutions and reform worldwide regulatory and accounting rules.
![G-20 summit: Plan to reform global financial system being readied G-20 summit: Plan to reform global financial system being readied](/economy/worldeconomy/images/gordon_brown_sm_domain-b.jpg)
G-20 summit: Plan to reform global financial system being readied
15 Nov 2008
British prime minister Gordon Brown and German chancellor Angela Merkel have let it be known that world leaders are making progress at an emergency economic summit in Washington.
![Y V Reddy nominated to UN task force Y V Reddy nominated to UN task force](/economy/worldeconomy/images/domain-b_y-v_reddy_ho.jpg)
Y V Reddy nominated to UN task force
15 Nov 2008
Y V Reddy, former governor of the Reserve Bank of India, has been nominated to the UN task force on global financial reforms.
![G-20 summit: A walk in the woods G-20 summit: A walk in the woods](/economy/worldeconomy/images/white_house_sm_domain-b.jpg)
G-20 summit: A walk in the woods
15 Nov 2008
Results are not expected to emerge at the G-20 summit, but as president Bush urged yesterday, the summit ought to at least identify "principles" as well as an action plan to implement them.
![G-20 summit: High powered Indian representation at Washington G-20 summit: High powered Indian representation at Washington](/economy/worldeconomy/images/manmohan_singh_15_sm_domain.jpg)
G-20 summit: High powered Indian representation at Washington
15 Nov 2008
India is fielding a high-powered presence at the G-20 summit, including its prime minister, Manmohan Singh.
Recession hits Italy
14 Nov 2008
![Hong Kong joins the list of major economies in recession Hong Kong joins the list of major economies in recession](/economy/worldeconomy/images/hong_kong_tower_sm_domain-b.jpg)
Hong Kong joins the list of major economies in recession
14 Nov 2008
Hong Kong's economy fell into a recession with its gross domestic product falling 0.5 per cent from the previous quarter, following a negative 1.4 per cent growth in the second quarter.
China offers $500 million to Pakistan
14 Nov 2008
![Japan offers $100 billion for IMF bailout fund Japan offers $100 billion for IMF bailout fund](/economy/worldeconomy/images/japan_flag_sm_domain-b.jpg)
Japan offers $100 billion for IMF bailout fund
14 Nov 2008
Japan has offered to lend up to $100 billion to an International Monetary Fund bailout fund ahead of a G-20 meeting in Washington.
![Brussels sprouts new rules for vegetables Brussels sprouts new rules for vegetables](/economy/worldeconomy/images/cucumber_sm_domain-b.jpg)
Brussels sprouts new rules for vegetables
14 Nov 2008
The European Union has finally decided do away with rules and regulations that proscribed import of some 26 fruits and vegetables that do no conform to certain shapes sizes and textures.
![Bank of England governor says UK economy “very likely” in recession Bank of England governor says UK economy “very likely” in recession](/economy/worldeconomy/images/mervyn_allister_king_sm_dom.jpg)
Bank of England governor says UK economy “very likely” in recession
13 Nov 2008
Mervyn King, governor, Bank of England, admitted yesterday it was “very likely” that the UK economy had entered a recession in the second half of this year."
Mafia seen tightening hold on Italy's economy
12 Nov 2008
![No.2 American electronics retailer Circuit City files for bankruptcy No.2 American electronics retailer Circuit City files for bankruptcy](/industry/Retail/images/circuitcity_logo_domain-b.gif)
No.2 American electronics retailer Circuit City files for bankruptcy
10 Nov 2008
The No. 2 electronics seller in the US, Circuit City Stores today filed for bankruptcy protection, becoming the latest victim of a worsening economic downturn.
![China pumps $586 billion to bolster economy China pumps $586 billion to bolster economy](/economy/worldeconomy/images/china_flag_domain-b.gif)
China pumps $586 billion to bolster economy
10 Nov 2008
China is resorting to major fiscal measures to boost its slowing economy and halt the US-Europe-led recession at its doors.
Iceland to get $6 billion from IMF, Europe
10 Nov 2008
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