GLOBAL MARKET HIGHLIGHTS
Manilas cowardly act 07-16-04 (Yahoo) The Philippines is pulling its troops out of Iraq to try to satisfy terrorists who kidnapped a Filipino truck driver. 
When it comes to the economy, neither Bush nor Kerry sees the big picture 07-16-04 (USA Today) President Bush asserts he has led the U.S. to a solid economic recovery. Democratic presidential candidate John Kerry says the administration has let the U.S. down in terms of job growth.
Newsview: Iraq Becomes Political Problem 07-15-04 (Yahoo) The Iraq (news - web sites) war is not only a major election-year problem for the Bush administration, it is proving a monumental political pain for America's friends. 
Summit Meeting: Bush New Conciliatory Approach 07-15-04 (Yahoo) Diplomacy in an election year: At the G8 conference on Sea Island, the beleaguered US president uses the once-shunned representatives of "Old Europe" as political props. But this staged harmony does a poor job of concealing continuing differences.
Evans Attacks Bushs Critics for Views 07-15-04 (Yahoo) Commerce Secretary Donald Evans, seeking to counter Democrats' criticism of President Bush's economic policies, says the administration is putting in place the building blocks for what could be the strongest decade of economic growth in memory.
US retail sales plunge, cast doubt on economic power 07-15-04 (Yahoo) US retail sales took a 16-month record plunge in June as shoppers fled car showrooms, government data showed, stirring concerns over the stamina of the economy.
US trade gap narrows as exports rise 07-15-04 (Yahoo) The US trade deficit narrowed slightly in May, according to official figures released on Tuesday morning. 

 LATIN AMERICA
Brazils president Lula losing support as reforms lag 07-16-04 (Yahoo) Two years ago, the wooden Jose Serra lost the Brazilian presidency to the charismatic Luiz Inacio Lula da Silva by the widest margin in the country's modern history. 
Brazil Daily Oil Output Increases in June 07-15-04 (Yahoo) Brazilian crude oil production averaged 2.024 million barrels per day in June, up more than 4 percent from May, state oil company Petrobras said Wednesday.

 ASIA
Hong Kong Tops Economic Freedom List 07-16-04 (Yahoo) Even though Hong Kong is experiencing political difficulties, it retains the highest ranking for economic freedom, according to a survey released Thursday. 

India Sees Backlash Fading Over Boom in Outsourcing 07-15-04 (NY Times) The backlash against the outsourcing of software and back-office services to India appears to have died down, 

 OIL PRICES
Iraq oil export pipeline ablaze after attack 07-16-04 (Yahoo) Suspected insurgents set ablaze the export pipeline from Iraq's northern oil fields in a new blow to the caretaker government's efforts to revive the country's main revenue earner. 
OPEC to Raise Oil Production by 2 Percent 07-16-04 (Yahoo) With the price of oil stuck above $40 a barrel, OPEC agreed Thursday to raise its daily production target by 500,000 barrels, or 2 percent, in an effort to keep crude prices from lurching even higher. 
Oil Holds Near $40 After Inventory Report 07-15-04 (Yahoo) U.S. oil prices held just below $40 on Wednesday as a weekly U.S. government report showed a fall in crude and gasoline stockpiles but a rise in heating oil inventory. 
Board Concerned Over Iraq Oil Production 07-15-04 (Yahoo) The international board charged with monitoring Iraq's oil revenue says it is concerned about the lack of equipment measuring how much crude is being extracted.....