Japan summit to test G8 leaders on climate change, world economy and security

    TOYAKO, Japan, July 6 (Xinhua) -- When the leaders of the Group of Eight (G8) industrialized nations gather in Hokkaido, Japan, this week for their annual summit, they face the challenge of showing greater resolve to fight global warming, remedying the world economy and easing tensions in the world's hot spots. Full story

Global oil prices surge to top agenda of G8 summit

    BEIJING, July 6 (Xinhua) -- Crude futures edged up to a record high abovey145 U.S. dollars a barrel in New York Thursday, three days ahead of the Group of Eight (G8) summit at which the issues of accelerating inflation and the slowing global economy are expected to grab the spotlight.

    Light, sweet crude for August delivery rose 1.72 dollars to hit a new record of 145.29 dollars a barrel on the New York Mercantile Exchange. In early morning electronic trading, oil hit an all-time peak of 145.85 dollars a barrel. Full story

News Analysis: G8 summit to wrestle with "3F crisis"

    TOYAKO, Japan, July 6 (Xinhua) -- As leaders of the world's leading industrialized powers gather in the resort town of northern Japan for their three-day summit beginning Monday, the world will focus on what "prescriptions" they will write for financial turmoil and fuel and food price hikes, dubbed as the 3F crisis that is threatening the global economy.

    The world economy had become hostage to the 3F crisis, said French Finance Minister Christine Lagarde while attending a meeting of finance ministers from the Group of Eight (G8) club in Osaka, Japan, in June. Full story

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