The Group of Seven is no longer effective and should be replaced by a steering group that includes new emerging economic powers like China, India and Brazil, World Bank President Robert Zoellick said on Monday.
Global bio-fuel policies should be urgently reviewed to ensure that the world's poor benefit by ending trade-distorting subsidies favouring developed nations while countering the rise in food prices sparked by the diversion of foodstuff to energy production, according to a new United Nations report released today.
Australia's central bank surprised financial market by cutting its key interest rate a full percentage point from 7% to 6%. The bank said the sharp cut was justified given the prospects for growth, even though inflation is currently above target.
British campaigners for a balanced migration policy welcomed hints from the Government's new immigration minister that he may seek limits on the number of migrants coming into the United Kingdom.
British government attempts to tackle rising energy bills were accused of being in meltdown as the latest figures showed a million more households slipped into fuel poverty in 2006.
Germany offered a blanket bank deposit guarantee on Sunday in a bid to contain the spreading credit crisis as European officials clinched deals to rescue Germany's Hypo Real Estate and recapitalize two other European banks.
This year's Nobel Prize in Medicine honors three Europeans who discovered viruses that cause deadly diseases, and whose findings have led to major medical advances.
The world's poor and uprooted people are increasingly at risk as the world struggles with a combination of adverse economic, social and political trends that threaten to trigger even greater displacement in the future, the top United Nations refugee official warned on Monday.
Chief Minister Peter Caruana and Opposition leader Joe Bossano will soon appear before the UN Fourth Committee in New York.
The UK's commander in Helmand has said Britain should not expect a decisive military victory in Afghanistan. Brigadier Mark Carleton-Smith told the Sunday Times the aim of the mission was to ensure the Afghan army was able to manage the country on its own.