G8 "strongly concerned" over oil prices

Toyako, Japan (ANTARA News/dpa) - Group of Eight (G8) leaders said Tuesday that spiralling oil prices posed a serious threat to global economic growth. "We have strong concerns about the sharp rise in oil prices, which poses risks to the global economy," the leaders said in a statement. Meeting in Japan, the leaders also warned that the world economy was currently facing a period of "uncertainty" and that "downside risks persist." The Group of Eight is holding a three-day summit in northern... [read full story]