GENEVA - TRADE volumes will fall 9 per cent this year, the biggest contraction since World War Two, as demand collapses in the most serious economic downturn in decades, the World Trade Organisation (WTO) said.

World trade tapered off sharply in the last half of 2008 to show growth of 2 per cent over the whole year, after rising 6 per cent in 2007, it said in a report.

LONDON - THE Opec cartel's call for compliance with recent production cuts could undermine a global economic recovery because oil prices could spike higher as a result, energy consultancy CGES said on Monday.

FRANKFURT - GERMAN auto and truck maker Daimler can breathe a sigh of relief after an Abu Dhabi fund agreed to become its biggest shareholder and help protect against a hostile takeover bid, analysts said on Monday.

The Aabar Investment fund, controlled by the state-owned International Petroleum Investement Company (IPIC), has invested S$4 billion (US$2.65 billion) in Daimler, which makes Mercedes-Benz cars and a broad range of heavy trucks.