Stories for May 15th 2010

Saturday, May 15th 2010 - 13:56 UTC

Antarctic Treaty Governments Progress on Climate Change and Marine Protected

Areas: Fail on Biological Prospecting, Polar Code and Tourism

Punta del Este, Uruguay. Antarctic and Southern Ocean Coalition welcomed steps at the 33rd Antarctic Treaty meeting to make climate change a major item on the agenda, and to keep momentum going on a network of Marine Protected Areas in the Southern Ocean.

Saturday, May 15th 2010 - 04:49 UTC

World Stock Markets Plunge and Euro Falls to 18-Month Low

Paul Volcker predicts a “potential disintegration” of the Euro

World stock markets plunge Friday and the Euro hit an 18-month low against the dollar, on growing fears that the austerity packages unveiled across Europe could tip the continent back into recession and stifle global economic recovery.

Saturday, May 15th 2010 - 04:44 UTC

Brazil Furious with Argentine “Scare Practices” Threatens Trade Retaliation

Guillermo Moreno, the man of the unwritten trade rules

Brazil is seriously considering retaliation against Argentina for new rules restricting food imports which allegedly compete directly with Argentine production. EU ambassadors in Buenos Aires made a similar presentation before the Argentine congress earlier this week.

Saturday, May 15th 2010 - 04:39 UTC

Volcker Fears Potential Disintegration of the Euro, Without Common Fiscal Policy

Volcker chairs President Barack Obama’s Economic Recovery Advisory Board

Former Federal Reserve chairman and advisor of the Obama administration is concerned that the Euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members.

Saturday, May 15th 2010 - 04:37 UTC

IMF Warns Developed Countries on “Urgent” Need to Cut Budget Deficits

What happens if debt ratios reach 110% of GDP

The International Monetary Fund has warned developed nations they face an “urgent” need to cut their budget deficits. Its warning comes as a slew of European countries face public unrest over their attempts to do just that.

Saturday, May 15th 2010 - 04:29 UTC

Gibraltar Celebrates: Hague and Fox “Could not be Better Choices”

Chief Minister Peter Caruana praised Hague’s strong stand in self determination

Gibraltar Chief Minister Peter Caruana gave the warmest welcome the Rock could give to a new Foreign Secretary as he described William Hague, former Tory leader, as a “safe pair of hands” from Gibraltar's perspective.

Saturday, May 15th 2010 - 04:23 UTC

Hillary Clinton and Hague Reaffirm “Unbreakable Alliance”

Washington was Foreign Secretary Hague first overseas trip

US Secretary of State Hillary Rodham Clinton and new British Foreign Minister William Hague met on Friday in Washington, vowing to strengthen the U.S.-Britain strategic alliance on addressing common challenges.

Saturday, May 15th 2010 - 04:20 UTC

German Economy Rebounds in the First Quarter of 2010 with 0.2% Expansion

Exports and investment in industrial equipment boosted the economy

The German economy—Europe's largest—expanded 0.2% in the first quarter of 2010, beating forecasts of zero growth. Many analysts predicted German GDP would stagnate in the quarter.

Saturday, May 15th 2010 - 04:16 UTC

China Signs 23 Billion USD Deal with Nigeria to Build Three Refineries

Nigeria is a net importer of oil refined products

Nigeria's state-run oil firm Nigerian National Petroleum Corporation and China State Construction Engineering Corporation have signed a 23 billion US dollars deal.

Saturday, May 15th 2010 - 04:14 UTC

Tata Group Land Rover Sales Almost Doubles in April

Ranger Rover models led the strong recovery

Land Rover's global sales almost doubled last month, with demand for the 4x4 vehicles growing strongly as the world economy recovers.

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