Aussies for India

SYDNEY: The Australian Labor Party, leading Prime Minister John Howard’s conservatives in opinion polls in an election year, declared its support Thursday for India joining the Asia-Pacific Economic Cooperation (APEC) forum. Australia is the current host of the 21-member APEC and will hold a leaders’ summit in September in Sydney. “Formalizing our strategic partnership with India is the best and most responsible way of ensuring peace and prosperity for Asia’s future,” Labor leader Kevin Rudd said.—DPA

EU economy upbeat

BRUSSELS: The European Commission presented an upbeat view on the euro-zone economy Thursday highlighting positive figures for the final quarter of 2006 and predicting continued growth this year. The Commission’s quarterly report said the euro-zone economy grew 0.9 percent in the last three months of 2006, taking annual growth to 2.6 percent. That compares to just 1.4 percent in 2005. Although a temporary slowdown is expected in the first quarter of this year due to the impact of German Value Added Tax increases, “prospects remain favorable” for the rest of the year, the EU executive predicted.—AP