WASHINGTON- PRESIDENT Barack Obama announced on Monday a boost to economic stimulus spending over the next three months in a bid to save or create 600,000 jobs through summer youth programs, schools and public works.

Mr Obama is ramping up the spending just as White House aides have sought to tamp down expectations of what impact his US$787 billion (S$1.15 trillion) stimulus plan will have on soaring unemployment rates.

BEIJING - CHINA issued rules on Monday for a planned stock exchange to nurture smaller, innovative companies, indicating the board might be launched soon.

The Growth Enterprise Board rules take effect July 1, said an announcement by the Shenzhen Stock Exchange, where the board will be located. It gave no details on when companies could apply for listing or when trading would begin.

PARIS - LEADING economies are showing fragile signs that the economic crisis driving recession in many countries may be easing or have reached a low point, the OECD said on Monday on the basis of April data.