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U.S. markets recover from steep losses
WASHINGTON, May 9 (UPI) -- International Monetary Fund First Deputy Managing Director John Lipsky called on governments to mount a strong defense against inflation.
"To put the issue starkly, inflation risks have re-emerged as a global challenge following a long absence," Lipsky said in a speech Thursday at the Council on Foreign Relations in Washington.
Lipsky said governments should promote investments in energy and improve agricultural policies, IMF's online Survey Magazine reported.
"The humanitarian challenges of higher food prices will not disappear anytime soon," he said.
Lipsky also said it is likely high oil prices wouldn't retreat substantially and called for a demand-side response to the issue as well as increased investment in oil production.
He also called on governments to increase agricultural infrastructure and reduce biofuel subsidies.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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