GENEVA - A FURTHER collapse in the price of assets, such as stocks and houses, is the largest risk facing world economies in 2009 and could cost as much as US$1 trillion (S$1.49 trillion), according to a World Economic Forum study published Tuesday.
OIL prices rebounded to near US$38 (S$56.57) a barrel on Tuesday as Opec output cuts outweighed expectations that crude demand will weaken amid the severe global economic slowdown.
BERLIN - CHANCELLOR Angela Merkel defended the biggest stimulus package in Germany's postwar history against critics on Tuesday, saying it would leave Europe's top economy in better shape than before the crisis.
WASHINGTON - TROUBLED US banking giant Citigroup said on Tuesday it is 'in discussions' with Morgan Stanley on a potential tie-up of the brokerage operations of the two firms.
