AFP World Economic News Summary

The top world economic stories on Monday:


PARIS: France needs an extra 6.0 billion euros in revenues next year, the budget minister said, and the European Central Bank said Paris has to act fast to cut spending and retain credibility after slashing the 2013 growth forecast.

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TOKYO: Japan's finance minister and a top business leader welcomed a reported move by Prime Minister Shinzo Abe to nominate Haruhiko Kuroda as Bank of Japan governor.


SHANGHAI: China's manufacturing growth hit a four-month low in February but remained positive, British banking giant HSBC said, noting that the world's second-biggest economy was still recovering slowly.


BEIJING: Rising sovereign debt levels in advanced economies are spawning a crisis that threatens to topple the dollar and other reserve currencies, a Chinese credit ratings agency warned.


SEOUL: South Korea's new president hinted strongly that she would seek to rein in the powerful conglomerates that dominate the national economy and have been accused of stifling innovation.


TOKYO: Japan's All Nippon Airways said it was grounding its fleet of Dreamliners until at least the end of May, with no end in sight to woes for Boeing's next generation plane.


BARCELONA: The $1.0-trillion (750-million-euro) global mobile industry predicted a boom in subscribers to four billion people by 2018 as the world's largest mobile fair opened in Barcelona, Spain.


BARCELONA: Mozilla Foundation announced it will launch in mid 2013 its widely anticipated Firefox operating system for smartphones in a direct challenge to the duopoly of Apple's iOS and Google's Android.


THE HAGUE: Dutch manufacturing giant Philips says it intends to drop the word "Electronics" from its name as it shifts away from consumer-based entertainment towards health, well-being and lighting products.


FRANKFURT: German stock market operator Deutsche Boerse denied that it is in merger talks with CME Group in the United States after corresponding rumours had sent the company's share price soaring nearly 12 percent.