International

International
Monday, April 21st 2014 - 07:25 UTC

China's main soy-bean importers in concerted action to bring prices down

It's soybean harvest time in South America and silos are binging

Chinese buyers may default on a further 1.2 million tons of soybeans worth about 900 million dollars being shipped from the United States and South America, to avoid incurring huge losses in a depressed local market, the country’s top soy buyer said.

Monday, April 21st 2014 - 07:19 UTC

Gibraltar blackout on Sunday afternoon as fire breaks out in main power station

Power station where the fire broke out

A fire in the Waterport power station left most of Gibraltar without electricity on Sunday afternoon, reports the Gibraltar Chronicle. Police urged residents in the area to close their windows as thick black smoke billowed from the power station, though no one was injured in the incident.

Thursday, April 17th 2014 - 07:49 UTC

New Zealand gets tough on working conditions for crews on board foreign chartered fishing vessels

Legislation follows serious allegations of mistreatment of crew on foreign chartered vessels operating in New Zealand waters

A fisheries amendment bill that has passed its second reading in Parliament sets that fishing companies can use foreign charter vessels only if they are flying the New Zealand flag and obey New Zealand laws. The legislation came from a ministerial inquiry led by minister Paul Swain, following serious allegations of mistreatment of crew on foreign chartered vessels.

Thursday, April 17th 2014 - 07:47 UTC

Yuan is 'significantly undervalued' US Treasury tells China

A stronger Chinese Yuan will make foreign imports cheaper

United States has told China its currency must be allowed to rise if it and the global economy are to see stable growth. The US Treasury's twice-yearly report to policymakers says the Yuan is “significantly undervalued”.

Thursday, April 17th 2014 - 04:58 UTC

China's economy expands 7.4% in first quarter and retail sales in March 12.2%

Beijing has taken steps to prop the domestic market and spending in the railway system

China's economy expanded by 7.4% in the first quarter of the year, better than what many were expecting, but it is a slowdown from 7.7% growth in the final quarter of last year. Other data released with the gross domestic product (GDP) figure showed industrial output rising 8.8% in March from one year ago.

Thursday, April 17th 2014 - 04:53 UTC

For third consecutive month UK inflation stands below the 2% target rate

 The largest contribution in March came from the fall in petrol prices

The UK inflation rate as measured by the Consumer Prices Index (CPI) fell to 1.6% in March from 1.7% in February, according to the Office for National Statistics (ONS). It is the third consecutive month inflation has been below the Bank of England's 2% target rate, and the lowest rate since October 2009.

Wednesday, April 16th 2014 - 10:01 UTC

Ukraine falling to economic warfare and its own missteps

Putin has called for payment of 38 billion from Ukraine, the result of unpaid gas sales

As protests in Ukraine's eastern region turned violent on Sunday leading to the death of a Ukrainian security officer in a shootout with pro-Russian militia, Kiev threatens military action while Moscow flexes its geo-economic warfare muscles.

Wednesday, April 16th 2014 - 04:49 UTC

Spanish government vessels incursions into Gibraltar waters reach 600

Guardia Civil vessels in Gibraltar territorial waters

Spanish government vessels have unlawfully entered British territorial waters around Gibraltar more than 600 times since the start of 2013, according to official figures. There were 496 incursions in 2013 and 112 in the first three months of 2014, the figures disclosed by Foreign Secretary William Hague revealed.

Wednesday, April 16th 2014 - 04:44 UTC

Mercosur proposal to present the EU expected to be ready by end of April

Capitanich confirmed Mercosur has advanced in agreeing on the proposal

Argentine cabinet chief Jorge Capitanich confirmed on Tuesday 'significant advances' in the elaboration of Mercosur's joint proposal to exchange with the European Union for discussions on a much delayed wide ranging cooperation and trade agreement.

Wednesday, April 16th 2014 - 04:20 UTC

European central bank considering 'further stimulus' if inflation remains low

Draghi hinted that QE, the large-scale purchase of financial assets, may be needed

European Central Bank (ECB) has said it will provide “further stimulus” to the Euro zone economy if inflation in the bloc continues to remain low. Mario Draghi, said a stronger Euro would act as a trigger to looser monetary policy.

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