U.S. lawmakers conspire to slap import duties on Chinese goods

WASHINGTON (AFP) – U.S. lawmakers criticized U.S. President Barack Obama's administration on Thursday for not pressuring China enough over its rigid currency as they set the stage for slapping import duties on Chinese goods.

South Korea says no to U.S. trade talks

SEOUL (BBC) -- South Korean officials have dampened speculation that the country is willing to re-negotiate a free trade agreement with the U.S.

Indian rice imports to cause ‘major swing’ in trade
By Luzi Ann Javier & Zeb Eckert

Indian rice imports next year will create a “fairly major swing” in global trade and push prices higher, commodities supplier Olam International Ltd. said.

The big squander
By Paul Krugman

Earlier this week, the inspector general for the Troubled Asset Relief Program, a k a, the bank bailout fund, released his report on the 2008 rescue of the American International Group, the insurer. The gist of the report is that government officials made no serious attempt to extract concessions from bankers, even though these bankers received huge benefits from the rescue. And more than money was lost. By making what was in effect a multibillion-dollar gift to Wall Street, policy makers undermined their own credibility — and put the broader economy at risk.

Malaysia's economy shrinks 1.2 percent in Q3

KUALA LUMPUR (AP) -- Malaysia's economy shrank 1.2 percent in the third quarter, an improvement from the previous two quarters as the financial services and construction sectors gained strength, the government said Friday.

Iran opens first overseas commerce center
Tehran Times Economic Desk

SHANGHAI – Iran opened its first foreign-based commerce center in Shanghai, China on Friday.

German economy to grow more slowly in 4Q

BERLIN (Bloomberg) -- The German economy, Europe’s biggest, will probably expand at a slower pace in the fourth quarter than in the previous three months as job security concerns dent private consumption, the Finance Ministry said.

Deflation returns to Japan as rates stay low

TOKYO (AFP) – Japan's central bank left its super-low interest rates unchanged on Friday as the government declared for the first time in more than three years that Asia's biggest economy is in a phase of deflation.

East African bloc to sign common market treaty

ARUSHA, Tanzania (AFP) – Leaders of the five-member East African Community gathered at the bloc's headquarters Friday to sign a common market treaty to allow free trade, movement and right of residence in the region.

Lehman claims may total up to $1 trillion

The number of claims against collapsed Lehman Brothers could top $1 trillion (£600b), according to the man running the investment bank's liquidation.