G20 meeting took place in Washington.The body groups the United States, Germany, Japan, France, Italy, Britain, Canada, Russia, the European Union, Argentine, Australia, Brazil, China, India, Indonesia, Mexico, Saudi Arabia, South Africa, South Korea and Turkey.
Spain and the Netherlands have also been invited to the summit although they are not counted as members. Top officials from the United Nations, the World Bank and the International Monetary Fund will be also present at the meeting.

The summit, as Bush said, will focus on five key objectives: understanding the causes of the global crisis, reviewing the effectiveness of our responses thus far, identifying principles for reforming our financial and regulatory systems, launching a specific action plan to implement those principles, and reaffirming our conviction that free market principles offer the surest path to lasting prosperity.

India today expressed the hope that the summit of world leaders here would send the right signals by agreeing on a stimulus package to restore major economies back to normalcy so that the situation arising out of a global downturn does not deteriorate further.

According to Forbes, Plunging stock and property values because of the global financial crisis has pushed steel tycoon Lakshmi Nivas Mittal to second place behind Mukesh Ambani of petroleum to textiles major Reliance Industries in the list of 40 richest Indians. Mittal was the topper of the last year Forbes 40 welthiest Indian.

Mohamed Nasheed is the new president of Maldives displacing Maumoon Abdul Gayoom.

Tata Teleservices Ltd (TTSL) and Tata Sons Ltd (TSL) the main promoters for Tata companies including TTSL, announced their agreement on a strategic alliance in India, under which Tokyo-based DoCoMo, the world's leading mobile operator, will acquire 26 per cent of TTSL's stock for approximately Rs 13,070 crore.