G8 finance ministers continue talks on oil, commodity prices

Business News

Jun 14, 2008, 2:04 GMT

Osaka, Japan - The finance ministers of the world's seven richest states and Russia on Saturday continued their meeting in Japan, as inflation woes threatened to sideline climate change, development topics. The members of the Group of Eight (G8) said they would focus their talks on means to tackle rising energy and commodity prices, with increasing transparency in the oil market as one promising approach. Differing priorities of the individual G8 members as well as developing countries however diminish the likelihood of strong concerted action on oil and commodity prices. While some delegates indicated that they did not expected the weakness of the US dollar to dominate the talks, the issue was likely to be raised on the sidelines of the meeting. It remained unclear whether it would find entry into the ministers final communique. In bilateral meetings on Friday, exchange rates where however touched upon, Japanese Finance Minister Fukushiro Nukaga said. French Finance Minister Christine Lagarde launched an attack on Central Banks, saying that they should focus not only on battling inflation but heed the dangers of an economic slowdown triggered by interest-rate hikes. G8 members Japan, Britain and the United States urged other nations to sign on to new multilateral climate change funds aimed at supporting developing countries to make the transition to cleaner technologies and help the mitigation and adaptation to the effects of global warming. The meeting is expected to conclude Saturday afternoon.

View blog reactions

If you liked this story please support M&C and Buzz the site on Yahoo.

Latest Headlines in Business

Talkback

There are currently no comments for this article. Be the first to comment! (no registration required)

Latest from M&C Blogs

Debate: did McCain do enough? - Global Eye on September 29, 2008 6:46 AM | Permalink | Comments (19) | TrackBacks (1)

Should Sen. John McCain's health records be made public? - Global Eye on September 15, 2008 8:39 AM | Permalink | Comments (49) | TrackBacks (0)

Propaganda and the campaign for president - Global Eye on September 9, 2008 7:12 AM | Permalink | Comments (10) | TrackBacks (0)

London Film Festival - Dean Spanley - London Calling on October 6, 2008 9:38 AM | Permalink | Comments (0) | TrackBacks (0)

Raindance Film Festival: Gardens Of The Night - London Calling on October 6, 2008 9:21 AM | Permalink | Comments (4) | TrackBacks (0)

London Film Festival - IL DIVO Review - London Calling on October 1, 2008 3:46 PM | Permalink | Comments (0) | TrackBacks (0)

Bugatti Veyron 16.4 Grand Sport - The World in Pictures on October 2, 2008 4:15 PM | Permalink | Comments (0) | TrackBacks (0)

Devotee to Chinese Shrine of Sapam has face pierced - The World in Pictures on October 2, 2008 4:13 PM | Permalink | Comments (0) | TrackBacks (0)

Indian Muslims offer prayers on the occasion of Eid-al-Fitr - The World in Pictures on October 2, 2008 4:11 PM | Permalink | Comments (1) | TrackBacks (0)

Business

G8 finance ministers continue talks on oil, commodity prices

Business News

Latest Headlines in Business

Talkback

Latest from M&C Blogs

Similar articles

In Monsters and Critics

Corporate

The Fine Print