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HuaweiLOS CABOS, Mexico — The leaders of the world’s largest economies will portray themselves as united behind efforts to boost growth and job creation in order to repair a global economy roiled by fears over the European financial crisis, according to a draft of the statement to be released Tuesday at the end of the Group of 20 annual meeting.
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Spain is likely to pay record prices to borrow at debt auctions on Tuesday and Thursday after the Greek election failed to ease concerns about the future of the euro zone and amid uncertainty over whether Madrid will need a full sovereign bailout.
World leaders pressured Europe on Monday to take ambitious steps to resolve its debt crisis after a victory for pro-bailout parties in a Greek election failed to calm markets or ease worries that wider turmoil could derail the global economy.
India plans to sell stakes in 15 state-run firms by the end of March next year, including shares worth $1.25 billion in miner NMDC, a finance ministry official said on Monday, in a move seen aimed at boosting investor sentiment following slower economic growth.
Carrefour chief executive George Plassat told shareholders on Monday that he needs three years to turn around Europe’s largest retailer amid the deteriorating economic climate.
Gold prices recovered much of their early losses on Monday as appetite for higher-risk assets, which followed a victory for pro-bailout parties in Greek elections, dwindled and the euro and Spanish and Italian stocks and bonds fell.
The catering unit of Saudi Arabian Airlines is seeking to raise 1.3 billion riyals ($350 million) by floating 30 percent of its shares, the prospectus showed as the initial public offer opened to retail investors on Monday.
Asian markets surged Monday and the euro rose after pro-austerity parties came out on top in Greek elections, easing but not ending concerns over whether the country will stay in the single currency.
The International Monetary Fund and the European Union pledged support to the next Greek government on Sunday after parties that supported an IMF and EU-led bailout won a pivotal election.
Parties supporting a bailout saving Greece from bankruptcy won a slim parliamentary majority on Sunday, beating radical leftists who rejected austerity and bringing relief to the euro zone which was braced for fresh financial turmoil.
