Japan's auto giant Mitsubishi Motors says it plans to close its only car production plant in Europe by the end of 2012 due to the European economic crisis.

The Standard & Poor's credit rating agency says it may downgrade the ratings of several highly rated G20 countries as of 2015.

The International Labor Organization (ILO) has warned of a gloomy global job market, saying that the world needs to create at least 600 million vocational opportunities over the next decade.

The World Bank expects the prices of oil and other commodities to drop in the wake of gloomy global economic growth forecasts for 2012.

The World Bank has downgraded its estimates for a global economic expansion in 2012, saying that developing countries should brace themselves for a growth slowdown.

Oil prices have climbed in the Asian trade markets on fresh worries over tensions between the Western countries and major oil producer, Iran.

A senior IMF executive has warned that the eurozone could fall into a “downward spiral” of collapsing confidence, stagnant growth, and fewer job, if it fails to get its governance in order.

The Dow Jones Industrial Average has dropped 48.96 points, or 0.39 percent, to 12,422.06 points, and other markets, rattled by the eurozone crisis, also closed lower.

Standard & Poor's has downgraded the credit ratings of France, Italy, and Spain, as the European debt crisis continues to intensify.

Iran's leading automaker, Iran Khodro Co. (IKCO), has announced plana to produce 70,000 sets of a new domestically developed EF7 car engine by the end of the current Iranian calendar year (starting March 20).

Markets across Asia have fallen after concerns over Spain and Italy rattled investors and inflicted more losses on the already crisis-hit eurozone.

Stocks have plummeted in United States, as investors remain concerned about the eurozone's unresolved deteriorating debt crisis and the ongoing economic catastrophe in the currency block.

A leading think tank has predicted that at least one country will pull out of the eurozone this year and the currency block will collapse within the next decade.

The foundations and structures of Western economies are looking more unstable than ever before in the past 20 years, due to the debt crisis in the US and Europe, an economic analyst say.

The euro has hit a 10-year-low against the Japanese currency, yen, as it suffered a sudden drop by selling from Japanese retail investors and exporters.

Iran's Minister of Transportation and Housing says the country is ready to buy Sukhoi 100 passenger jets from Russia if the deal is approved by the Civil Aviation Organization.

Iranian officials say the country has seen an increase in the demand for foreign currency during the last few days, adding that there has been fluctuation in the foreign currency rates, Press TV reports.

The head of the International Monetary Fund (IMF), Christine Lagarde, warns that the European debt crisis has put the world economy in a dangerous situation.

Banks around the world are preparing for the possible collapse of the euro as fears of the European debt crisis increase.

The International Monetary Fund (IMF) chief Christine Lagarde has warned that the European debt crisis is a risk for “all economies of the world”.

Swedish automobile giant, Saab, has filed for bankruptcy after failing to raise fresh financial assistance from potential Chinese investors.

US stock markets are expected to experience a volatile week as investors remain worried over the unresolved eurozone deteriorating debt crisis.

Stock markets in Asia have plummeted after rating agency Fitch cautioned that it may decide to downgrade financial ratings of several eurozone countries.

Iran's Minister of Roads and Urban Development Ali Nikzad has announced the addition of 25 passenger planes to the country's civilian aircraft fleet.

The World Economic Forum (WEF) says Hong Kong has become the world's most developed financial market, overtaking the US and the UK for the first time.

Asian stock markets have fallen over rising worries about the eurozone debt crisis and a weakening euro that has hit near a two-month low against other currencies.

Stock markets in the United States and Europe plunge after Moody's warned it would review all EU credit ratings over the lack of decisive policy measures to fix the eurozone debt crisis.

Asian markets have climbed after a new agreement by European leaders to resolve eurozone's sovereign debt crisis temporarily soothed jittery nerves of investors.

Standard & Poor's (S&P;) agency is reviewing credit ratings on 50 banks in the Middle East and North Africa under a new set of criteria that could result in higher funding costs for lenders in the region.

Asian stocks have fallen after European leaders remained sharply divided over another measure to tackle the eurozone's deepening debt crisis at a key summit.

The euro has dropped against major currencies as investors await the European leaders' decision on how to tackle the deepening financial crisis across the eurozone.

Irish Prime Minister Enda Kenny has warned its citizens to gear up for years of tough economic conditions, in advance of a 3.8-billion-euro austerity budget.

China says it cannot use its USD 3.2 trillion in foreign exchange reserves to bail out or rescue European states, Press TV reports.

European banks have deposited the biggest amount of overnight funds at the European Central Bank (ECB), reflecting the deepening distrust in lending each other on the key interbank market.

Asian stocks have plummeted after European finance ministers failed to come up with a decisive plan to address the eurozone sovereign debt crisis that is threatening to rip apart the euro currency union.

Germany and France plan to impose more aggressive fiscal discipline on euro-area nations amid major efforts to avert the disintegration of the eurozone.

Asian stocks have plummeted as the leaders of Europe's biggest economies remain divided over a comprehensive plan to stem the region's deteriorating debt crisis.

European stocks have fallen as the EU is set to unveil plans for eurobonds aim to bring down borrowing costs of struggling nations in the eurozone.

The European Commission will propose measures to expand economic and budgetary monitoring on eurozone countries that are grappling with excessive budget deficit and huge debts, a report says.

Stock markets around the world have plummeted over fears that the recent deficit-cutting talks between US congressional leaders have failed.