Economic environment in 2013 will not be easier: Merkel

German Chancellor Angela Merkel has cautioned citizens to be prepared for tough times ahead in view of a deteriorating economic situation.

India for quick resolution of EU sovereign debt crisis

Worried over slow global economic recovery, India has made a case for quick resolution of the sovereign debt problems of Europe to remove uncertainty in financial markets and promote investor confidence.

Nikkei hits 5-week high on hopes of more IMF funds

Japan's Nikkei share average hit a five-week high on Thursday and climbed above its 75-day moving average, boosted by optimism that the International Monetary Fund may raise additional funds to help fight the eurozone sovereign debt crisis.