The marked slowdown in global activity, United States on the brink of recession and persisting financial turmoil are expected to have an impact on the European Union in the next 24 months with slower economic growth and higher inflation.
The IMF Board of Governors adopted by wide margin far-reaching reforms to increase the voting shares of a majority of the 185 member countries particularly the large emerging economies.
The United Nations Secretary General Ban Ki-moon is setting up a task force to tackle the global food crisis. Ban Ki-moon said the world faced widespread hunger, malnutrition and social unrest on an unprecedented scale because of soaring food prices
A US federal judge has ordered the Interior Department to decide by May 15 whether polar bears should be listed as a threatened species because of global warming. The decision was hailed by conservation groups which have been hounding the US government on the issue for years.
A majority of leading oil and gas companies are far from transparent when it comes to the payments they make to resource-rich countries, leaving the door open to corruption and hampering efforts to fight poverty, according to a report published Monday by Transparency International (TI).
Police in southern China have discovered a factory manufacturing Free Tibet flags, according to media reports in Beijing. The factory in Guangdong had been completing overseas orders for the flag of the Tibetan government-in-exile.
China's preference for different types of meat and a growing demand for cereals and oilseeds have had a direct impact on the price of food world wide according to an expert from the Spanish bank BBVA, which has a strong influence and presence in Latinamerica.
For once OPEC and US president George Bush seem to agree there's no short term fix to oil international prices. The convergence occurred Monday as crude prices edged closer to 120 dollars a barrel, fueled by the shutdown of a key pipeline and concerns about violence in Nigeria.
Technicians in New Zealand are set to begin defrosting a rare colossal squid. Having removed the creature from the freezer on Sunday, the team realized it would defrost too early for a planned examination by scientists on Wednesday, reports BBC.
They now aim to begin operations at 1500 (0300 GMT) in Wellington.
Bert van Marwijk, soon to succeed Marco van Basten as coach of the Dutch National team, went out on a winning note when his league team Feyenoord convincingly won the Dutch Cup final on Sunday, beating Roda JC by 2-0.