International

• Monday, February 18th 2008 - 21:00 UTC

  Far East steelmakers agree to pay 65% more for iron ore

  

  Japanese and South Korean steel mills have agreed to pay Brazilian miner Vale do Rio Doce 65% more for iron ore this year. Japan's Nippon Steel and South Korea's Posco said they would pay Vale 78.90 US dollars a ton from April.

• Friday, February 15th 2008 - 20:00 UTC

  China's trade surplus in January jumps beyond all forecasts

  China's trade surplus soared 22.7% in January as the economy continued to boom despite efforts to cool the rate of growth, official figures have shown. The gap between what China exports and what it imports grew to 22.7 billion US dollars last month, 15.9 billion a year earlier.

• Friday, February 15th 2008 - 20:00 UTC

  Most vulnerable populations hit by soaring cereal prices

  

  Soaring international cereal prices and freight rates are projected to increase import bills for the world's poorest countries 35% for the second year running affecting the most vulnerable populations, points out FAO in its latest Crop Prospects and Food Situation report.

• Friday, February 15th 2008 - 20:00 UTC

  FAO addresses fishing of fragile deep sea species and habitats

  

  Fifty-three countries and the European Community have begun discussions in Rome on how to better protect fragile deep sea fish species and habitats from irresponsible fishing practices.

• Friday, February 15th 2008 - 20:00 UTC

  First WTO defeat for China over foreign made car parts

  

  China has experienced its first defeat at the World Trade Organization (WTO), in a case referred to restrictions on the importation of foreign-made car parts. Upholding a complaint from the European Union, Canada and United States, the preliminary WTO finding agrees that current Chinese practice is protectionist.

• Friday, February 15th 2008 - 20:00 UTC

  Euro zone growth outpaced the US; first time since 2001

  

  An initial estimate shows that Euro zone economic growth dipped last year to 2.7%, but still easily outpaced the US economy for the first time since 2001. The rate marked only a marginal slowdown from 2006 when the Euro zone economy grew by 2.8%. The US economy slowed to 2.2% in 2007.

• Thursday, February 14th 2008 - 20:00 UTC

  Rio Tinto forecasts continued bull market for metals in 2008

  

  Mining giant Rio Tinto expects commodity prices to remain historically high in 2008 and well beyond in spite of the US economic slowdown, said on Wednesday chief economist Vivek Tulpule.

• Thursday, February 14th 2008 - 20:00 UTC

  Commonwealth support for Maldives maritime boundaries

  

  The Commonwealth Secretariat said this week it will work alongside the Government of Maldives to establish maritime boundaries that are consistent with international law

• Wednesday, February 13th 2008 - 20:00 UTC

  La Niña current anticipates dry climate for Americas

  

  The current La Niña weather pattern is expected to strengthen and continue through the middle of the year, bringing wetter conditions to Australia and the western Pacific and a drier climate to the Americas, the United Nations World Meteorological Agency (WMO) reported Tuesday.

• Wednesday, February 13th 2008 - 20:00 UTC

  “Project Lifeline” to help contain mortgage mess

  Six major United States banks are taking part in an initiative to help homeowners struggling to pay their mortgages. Bank of America, Citigroup, Countrywide Financial, JP Morgan Chase, Washington Mutual and Wells Fargo are those taking part in “Project Lifeline”.