G20 ministers to discuss Europe at Korea G20 meeting

There will be considerable discussion about state of the European economy at the G20 meeting of finance officials and central bankers in Busan, South Korea, this weekend, a senior Canadian finance official said in a briefing on Monday.

Oil above $74 on wider rally, down 14 percent in May

Oil crept above $74 on Monday in line with a timid recovery across financial markets, but was set for its biggest monthly loss in 18 months after European economic crisis raised the prospect of reduced fuel demand.

ECB warns of more bank loan losses, ups bond purchase

The European Central Bank warned on Monday that euro zone banks face up to 195 billion euros in a "second wave" of potential loan losses over the next 18 months due to the financial crisis, and disclosed it had increased purchases of euro zone government bonds.

Apple iPad sales top 2 mln

Apple also plans to launch the iPad in nine more countries in July ? Austria, Belgium, Hong Kong, Ireland, Luxembourg, Mexico, Netherlands, New Zealand and Singapore.

India Q4 GDP rises 8.6 pct

India's gross domestic product (GDP) grew more than estimated in the quarter through March 2010, driven by strong growth in manufacturing sector.

Rita Lau to promote tourism in Shanghai

Secretary for Commerce & Economic Development Rita Lau will depart forShanghai tomorrow to launch the Now Shanghai! Next Hong Kong! campaign to attract Shanghai Expo visitors to Hong Kong and promote Festive Hong Kong 2010.

Insurance industry premiums grow 16.2%

The total gross premiums of Hong Kong's insurance industry grew 16.2% to $9.2 billion in the year's first quarter, the Office of the Commissioner of Insurance says. Net premiums grew 14.4% to $6.5 billion.

April sees $200m deficit

A $200 million deficit was recorded in the Government's financial results for April, the first month of the current financial year.

Exchange Fund assets down $20.3b

The Exchange Fund's total assets fell $20.3 billion to $2.199 trillion at the end April, the Monetary Authority announces.

Total deposits rise 2.5%

Total deposits with authorised institutions rose 2.5% in April, according to statistics published by the Hong Kong Monetary Authority today.

India weather office predicts normal monsoon rains in 2010

The monsoon rains are vital for soybean, cane and rice crops in India.

Global rebound anemic: Roubini

Advanced economies face years of anemic growth and the risk of a double-dip recession as their citizens cope with sluggish employment and highly indebted governments, economist Nouriel Roubini said on Monday.