The European Union has called on the World Trade Organization (WTO) to impose sanctions on US-made goods in retaliation for the country's anti-dumping measures.
Europe wants the world trade body to approve USD 311 million in sanctions on American exports for using a method of accounting called "zeroing" that result in import penalties on European goods such as steel, chemicals and pasta.
EU calls for WTO sanctions against US
Interview: WTO cheif Pascal Lamy
The World Trade Organisation has reaffirmed its commitment to fight trade protectionism, at the World Economic Forum in Switzerland. But many of the ministers have blamed the US of foot-dragging. US President Barack Obama had agreed, in Pittsburgh last September, to the goal of wrapping up the Doha round of WTO negotiations in 2010. In Davos, Al Jazeera's Stephen Cole speaks to Pascal Lamy, the institution's director general, on how open trade would benefit poorer countries. [January 31, 2010]
Bank reform clouds Davos summit
The world economy is recovering but remains fragile and dogged by huge deficits, officials have said at the end of a Davos summit clouded by divisions over banking reform.
Asia is leading the resurgence after the worst crisis for decades with China returning to double-digit growth, however, the United States and Europe remain dogged by unemployment and the crisis over Greece.
Iran to offer solutions for global economic crisis
Iran's Foreign Minister Manouchehr Mottaki will declare the country's initiatives for solving the global economic crisis, the foreign ministry spokesman says.
Ramin Mehman-Parast said on Wednesday that Mottaki will present Iran's initiatives during the Annual Meeting of the World Economic Forum that will be held in Davos on January 27-31.
World Bank predicts economic growth
The World Bank has forecast increased global economic growth for the coming year after the passing of the "acute phase" of the world recession.
A report released on Thursday by the Washington-based group predicted 2.7 per cent world economic growth this in 2010 and 3.2 per cent for 2011.
This follows a 2.2 per cent contraction in 2009.
OPEC considers using euro in oil transactions
Iran's representative to OPEC says the group weighs replacing the dollar by the euro in crude oil pricing, adding that no decision has been made.
"Members of OPEC are free (to use any currency) in their oil transactions," said Mohammad Ali Khatibi on Sunday.
