AFP World Economic News Summary

The top world economic stories on Tuesday:


BEIJING: China set an unchanged growth target of 7.5 percent for 2013, Premier Wen Jiabao said as officials seek to nurture recovery while revamping the model of the world's second-largest economy.


BRUSSELS: European Union governments delayed a decision on controversial bank bonus caps after Britain offered hope of an overall deal if given more time to negotiate.


NICOSIA: A delegation from the troika of international lenders was in crisis-hit Cyprus to gather data on semi-governmental organisations as part of a deal to finalise a bailout package, officials said.


SYDNEY: Australia's central bank kept interest rates steady at 3.00 percent, saying downside risks in the global economy appeared to have eased while there were signs previous cuts were working.


GENEVA: The European car market still has a long, bumpy road ahead before it can hope to again see sales numbers approaching the pre-crisis glory days, Ford's European chief said.


BRUSSELS: Retail sales in the EU and eurozone both rose in January compared with December, snapping back after a poor showing in what is traditionally a strong month, official data showed.


BRUSSELS: Private business activity in the eurozone in February was not as bad as first feared but still showed the economic slump deepening, a key survey showed.


BRUSSELS: All EU imports of Chinese solar panels and components will now be recorded, the European Commission said, as part of an anti-dumping probe that has sparked an angry response in Beijing.


MADRID: The recession ravaging Spain's economy has not held back Amancio Ortega, a railwayman's son from Galicia, who has just leaped to third place in Forbes magazine's listing of the richest people in the world.


DUBAI: Saudi tycoon Prince Alwalid bin Talal has severed his ties with Forbes magazine's annual billionaires' list, which he accused of undervaluing his fortune, his office said.