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Three Falkland Islands fishing vessels' owner/operators were ordered by the Supreme Court to pay £200.000 security bonds to return to sea while investigations are ongoing on potential anomalies on their catches and species reports. The value of the vessels range between one and 3.5 million pounds.
Tourism’s underrepresentation in international financing for development flows remains a critical hurdle to overcome in order to fully deploy its development potential. Despite being a high impact economic activity, a major job generator and key export sector accounting for 6% of total world trade, tourism receives only 0.78% of the total Aid for Trade (AfT) disbursements and a mere 0.097% of the total Official Development Assistance (ODA).
With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran's crude oil supply would further contribute to the already rising global supply glut. The economic crisis in Greece, OPEC's high production levels and China's market turmoil have created more pressure on oil prices, making a price rebound look highly unlikely in the near future.
The number of US citizens filing new applications for unemployment benefits last week dropped to its lowest level in more than 41 and a half years (1973), suggesting the labor market maintained a sturdy pace of job growth in July.
Brazil's currency, the Real, tumbled on Thursday after the government announced it would slash its fiscal savings goals for this year and next, raising investor fears that the country may lose its investment-grade credit rating.
Nikkei, Japan’s largest media company, is to buy the FT Group from Pearson for £844m, after stunning its rival bidder Germany’s Axel Springer with an eleventh hour offer for the London-based global news organisation. The deal marks the end of an era, bringing the curtain down on Pearson's 58 year ownership of the Financial Times at a time of upheaval in the global media industry.
The Exxon Mobil oil find in Guyana, which has triggered a strong reaction from neighboring Venezuela could be worth 12 times more than that nation’s GDP. In effect according to a Guyanese minister, the find at Liza-1well in offshore Guyana could be worth about $40 billion at current international crude prices.
Bermuda Premier Michael Dunkley called for the British Overseas Territories (BOTs) to present a united front in key areas and for the leaders to work together to best represent the people of the region. Premier Dunkley opened on Thursday the Pre-Joint ministerial council which convened leaders from several BOTs including the Falklands MLA Roger Edwards, as reported by the island's Royal Gazette.
Argentine diplomats questioned in Montevideo why the United Kingdom is not punished for its denial to comply with the UN General Assembly Resolution from 1965 which calls on Argentina and the UK to sit and dialogue on the Falklands/Malvinas dispute. They also denied any attempts from Argentina to suffocate the Falklands economy or hydrocarbons industry.
On World Hepatitis Day (28 July) the World Health Organization highlights the urgent need for countries to enhance action to prevent viral hepatitis infection and to ensure that people who have been infected are diagnosed and offered treatment. This year, the Organization is focusing particularly on hepatitis B and C, which together cause approximately 80% of all liver cancer deaths and kill close to 1.4 million people every year.