finance ministers
  • DURBAN, South Africa (AP) — Leaders of the five BRICS nations fueling global economic growth agreed Wednesday to create a development bank to help fund their $4.5 trillion infrastructure plans — a direct challenge to the World Bank that they accuse of Western bias.

    But the countries were unable to agree on some basic issues. Foreign Minister Pravin Gordhan of South Africa told reporters that there were "different views" about how much capital such a bank would need.

    LAST UPDATE : Mar 27, 2013, 1:02 PM EDT
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  • NICOSIA, Cyprus (AP) — All banks in Cyprus except the two largest in the country are to reopen for business Tuesday, more than a week after they shut down to prevent a drain on deposits by customers worried they would lose part of their savings.

    LAST UPDATE : Mar 25, 2013, 3:25 PM EDT
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  • A foreign exchange broker works in front of a screen displaying the current dollar to yen rate as an American, left, and Japanese, right, flag are displayed at the office in Tokyo, Monday, Feb. 18, 2013.

    Japan's benchmark stock index jumped after Group of 20 finance officials refrained from directly criticizing its government for trying to force down the yen.

    LAST UPDATE : Feb 18, 2013, 2:24 AM EST
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