LONDON - GLOBAL leaders pledged an additional US$1 trillion (S$1.5 trillion) to restore credit, growth and jobs in the world economy on Thursday, exceeding expectations in their plan to deal with the financial crisis.
The G-20 also agreed to renounce protectionism and pledged US$250 billion in trade finance over the next two years.
LONDON - CONDUCTING his first international summit, President Barack Obama hailed agreements at the emergency meeting of world powers on Thursday as a 'turning point in our pursuit of global economic recovery.'
The new US leader said the heads of industrial countries that met in London agreed on 'unprecedented steps to restore growth and prevent a crisis like this from happening again.'
LONDON - POLICE have arrested 111 people and detained scores more following violent clashes timed to coincide with the G20 economic summit in London, they said on Thursday.
Around 85 people were arrested on Wednesday after repeatedly clashing with police in the narrow streets of London's financial quarter on what protesters designated 'Financial Fools Day'.
NEW YORK - STOCKS jumped higher on Thursday after a rise in factory orders where traders see it as a sign of an economic rebound.
The Dow rose 216.84 points, or 2.8 per cent to end at 7978.08. Earlier, it climbed over the 8,000 mark briefly.
