WTO chief sees bigger than expected trade contraction
PARIS (Reuters) - World trade volume is likely to contract by a record 10 percent this year, a "huge drop", rather than the 9 pct forecast by the World Trade Organisation in March, WTO Director-General Pascal Lamy said on Wednesday.
"That's the situation and I'm afraid I can't read any good news in my trade numbers," Lamy told Reuters Television.
Lamy said he was hearing from the WTO's 153 members that they wanted to conclude the long-running Doha round to free up world trade in 2010.
© Thomson Reuters 2009 All rights reserved
UK joins G20 push for world levy on banks
Britain threw its weight behind proposals to impose a global levy on banks to fund future bailouts and called on the G20 to work toward a $100 billion deal to meet the cost of climate change. Full Article | Full Coverage
Galleon case
U.S. insider trading probe widens
Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal. Full Article
India
US
UK
