Rio de Janeiro confident a year before 2016 Olympic Games but questions remain
Rio de Janeiro confident a year before 2016 Olympic Games but questions remain

Brazil`s economy is heading for recession, the president is threatened with impeachment and a huge corruption scandal has engulfed the nation but Rio is riding a wave of confidence in its preparations to host the Olympics next year.

Obama to say US turning the page on `vicious recession`

President Barack Obama will draw a line under years of economic hardship during his State of the Union address on Tuesday, directly challenging his Republican foes to help the middle class.

Venezuela's Maduro heads to China to seek financial aid

Venezuelan President Nicolas Maduro begins a trip to China and OPEC member countries in search of financial support as his country reels from falling oil prices and a tattered economy.

Japan's PM Abe set to call snap poll, delay tax hike

Tokyo: Prime Minister Shinzo Abe is set Tuesday to call a snap election, and seek voters' endorsement for more economic reforms after Japan slipped into recession.

Two million defiant Catalans vote on breakaway from Spain

Two million Catalans turned out Sunday to vote on independence from Spain in a symbolic ballot, defying challenges from the Spanish government.

IMF says Russia is in recession

The International Monetary Fund said today that Russia is already in recession and slashed its growth forecast for 2014 citing the effect of the Ukraine crisis on investment.

US primed to bring back jobs lost to recession: Obama

The US is prepared to bring back jobs lost to recession and overseas competition in recent decades and the Congress should help achieve this goal, President Barack Obama said on Saturday.

Recession-hit Spain distributes $3.4 bln in Christmas lottery

The country of Spain, which is currently going through a financial crisis, has handed out 3.4 billion dollars in the annual and world’s richest Christmas lottery.

Pope expresses support for Italy`s "pitchfork" protesters

Pope Francis expressed support for Italians protesting over high unemployment, recession and austerity but urged them to reject the "temptation of violence".

New general strike hits Greece

The mission by the so-called troika of creditors -- the EU, IMF and the European Central Bank - is expected to push for more unpopular austerity measures to cover a fiscal gap of two billion euros ($2.7 billion) forecast for 2014.

Ireland falls back into recession: Official data

Ireland, a bailed-out eurozone nation, has slumped back into recession for the first time since 2009, revised official data showed.

Putin reshuffles economic team amid slowdown

Russian President Vladimir Putin reshuffled his top economic aides in a move that was aimed at giving the Kremlin more control to spend its way out of a looming recession.

Suicides soar in Italy

Recession-mired Italy saw a 40-percent surge in the number of suicides over a 15-month period between 2012 and the first three months of this year.

Spanish chef focuses on creativity to deal with recession

Spanish chef Joan Roca said Wednesday in Chile that he had managed to ride out Spain`s economic crisis by emphasizing excellence and creativity.

Spanish bands look to Mexico for opportunities

Spanish musicians are looking to Mexico for opportunities amid the deep economic recession that has hurt music sales and dampened concert attendance in their homeland.

Italy votes in center-left primary amid recession

Italians voted in a primary for a center-left candidate to run in spring general elections that will in large part determine how Italy`s tries to fix its troubled finances and emerge from a grinding recession.

China feeling pressure of rising unemployment amid recession

China, with a 4.1 per cent urban unemployment rate, is feeling the pressure from the country`s sluggish economy and more people left unemployed.

Illegal Indians quitting recession-hit UK?

Many Indian citizens who entered Britain illegally to chase their `London Dreams` are returning home, official figures show.

Recession pushed Parineeti into acting

Parineeti, who happens to be actress Priyanka Chopra`s cousin, says her close proximity with the profession increased her interest in acting.

‘Over 50% young Black men unemployed in UK’

The astonishing stats revealed unemployment figures were as high as 55.9% for young black men as compared to 23.9% of white men in 2011.