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SUSTAINED crude oil prices of more than US$40 per barrel could hurt Malaysia's gross domestic product (GDP) growth by 1.2 percentage point next year, and cut it by another 1.7 percentage point the following year, a study has found.
Last week, the World Trade Organisation held its latest General Council meeting, with many officials and diplomats expressing optimism that this phase of the talks can meet its new July deadline. It will however be an uphill battle, since many differences remain among governments on key subjects.
The US government's budget deficit came under fire on Wednesday from two global institutions saying a plan to halve the record gap by 2009 may not be enough to stop long-term damage to the world economy.