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Strikes, Protests as Anger over Jordan Fuel Hike Spreads

Jordan on Wednesday was hit by more protests and strikes as anger mounted against a government increase in fuel prices a day after mobs attacked a police station and surrounded the prime minister's house.

The sudden price hike drew sharp condemnation from the opposition Islamists, who warned of civil disobedience and increased opposition to the government in the run-up to general elections in January, which they are boycotting.

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Asian Markets Bounce Back after Recent Losses

Asian shares rose Wednesday as a Greek debt sale soothed fears over the country's future and as dealers picked up bargains after a recent sell-off fuelled by concerns over the US fiscal cliff.

The euro, which sank to a two-month low against the dollar in Europe on Tuesday, edged up against the greenback and yen as a little confidence returned to the market.

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New Blow as Toyota Recalls 2.77 mn Vehicles Globally

Toyota on Wednesday announced a global recall of 2.77 million vehicles over water pump or steering problems, in the latest blow to the firm's reputation after a spate of earlier call backs.

Japan's biggest automaker said there were no reported injuries or accidents, but it had received about 400 complaints in Japan over the pump issue and a handful about the steering problem.

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Canada Views U.S. Oil Boom as a Wake-Up Call

Canada's natural resources minister said Tuesday a report that says the U.S. will become the world's largest oil producer by the end of the decade should serve as a wake-up call that illustrates the pressing need for Canada to diversify its energy exports.

The International Energy Agency reported this week the U.S. will become the world's largest oil producer by around 2020 as new exploration technologies help find more resources. The energy watchdog also predicted that greater oil and natural gas production, as well as more efficient use of energy, will allow the U.S. to become largely energy self-sufficient by 2035.

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Euro Slips against Dollar on Worries about Greece 

The euro is falling against the dollar after finance ministers delayed $40 billion in aid for Greece.

The ministers will meet again on Nov. 20 to make a decision about releasing the much needed aid to Greece.

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Olympic Construction Boosts UK Economy by $11.6 Billion

A government-commissioned report says the British economy received a multi-billion-pound (dollar) boost from construction projects for the London Olympics.

The report says the economy was lifted by 7.3 billion pounds ($11.6 billion) from the construction of venues and infrastructure for the games. The construction budget was 6.5 billion pounds ($10.3 billion).

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flydubai to the Maldives: Low-Cost Carrier to Launch Affordable Fares to Malé from January 2013

flydubai, Dubai’s innovative low-cost airline, has announced flights to Malé, the capital of the Republic of Maldives (the Maldives).

Commencing on January 19, 2013, flights will operate five times a week between Dubai’s Terminal 2 and the Maldives’ Ibrahim Nasir International Airport on the island of Malé. Bringing flydubai’s presence in the Indian Subcontinent to nine points across six countries, the new route will allow travelers from across the region to enjoy affordable fares to one of the world’s most renowned leisure destinations.

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EU Finance Ministers Tackle Slumping Economy, Budget

European finance ministers focus Tuesday on how to boost the slumping economy and the bloc's hotly contested budget after their eurozone peers reported progress on solving Greece's bailout problems.

The gathering of all 27 EU ministers comes in the run-up to what is likely to be a fractious November 22-23 European summit on the 2014-20 budget, with many insisting there can be no increase in EU spending when austerity is the order of the day.

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Asian Markets Fall on U.S., Europe Woes

The yen rose against the euro and dollar as investors sought out its safety and dealing a blow to Japan's exporters, while the European unit also hit a two-month low against the greenback.

Chinese shares were down in afternoon trade, as property shares tumbled on concerns over government intentions to maintain policies to control housing prices, dealers said.

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IMF's Lipton Urges Less Austerity if Growth Hurt

The IMF's number-two official, David Lipton, warned Monday that policymakers should temper austerity measures aimed at reducing debt if they are damaging economic growth.

Lipton, the IMF first deputy managing director, said at a London conference that despite progress since the 2008-2009 global financial meltdown, "this crisis is proving very hard to end."

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