Monday, February 8th 2010 - 04:47 UTC

Gibraltar celebrates 25th anniversary of frontier opening with Spain

Gibraltar Chief Minister Peter Caruana

Gibraltar Chief Minister Peter Caruana declared that the Tripartite Forum (Gib., UK, Spain) must be consolidated as the vehicle for cross-border dialogue so that its existence is not dependent on a change of Government in either Spain or Gibraltar.

Monday, February 8th 2010 - 02:11 UTC

Australia to supply 60 billion USD of coal to China in 20-year period

Clive Palmer, who controls privately-owned Resourcehouse is among the richest men in Australia

Australian company Resourcehouse Ltd. announced Saturday that it had struck a 60 billion US dollars, 20-year agreement to supply coal to China Power International Development Ltd., calling it Australia's biggest export contract.

Monday, February 8th 2010 - 02:00 UTC

Former IMF economist has UK in the same bag as Greece, Portugal and Spain

Simon Johnson, also described the G7 group of leading economies as “fundamentally useless”

Britain should be seen in the same category of countries as Greece, Portugal and Spain, who are facing severe debt problems, a leading economist has said. Ex-IMF chief economist Simon Johnson, also described the G7 group of leading economies as “fundamentally useless”.

Monday, February 8th 2010 - 01:58 UTC

Bank of England to continue buying corporate bonds but with Treasury bills

Chancellor Alistair Darling

The Bank of England will continue to buy up corporate bonds despite calling a halt to its Quantitative Easing programme, it has emerged. George Trefgarne from the Centre for Policy Studies highlighted the development in an interview with Sky's Jeff Randall Live programme.

Saturday, February 6th 2010 - 01:58 UTC

Falklands say oil development is to ensure sustainable economic future

British PM Brown has not doubt about the Falklands sovereignty

The Falkland Islands government said that hydrocarbons exploration is an important element to achieve a sustainable economic future for the Islands and quoted from British PM Gordon Brown New Year message when he said that there are “no doubts about UK sovereignty over the Falklands ” and the principle of self determination.

Saturday, February 6th 2010 - 01:54 UTC

Recession plunges record number of people into insolvency in 2009

Company failures soared to the highest level in 16 years

Britain's longest- and deepest-ever recession plunged a record number of people into insolvency last year, new figures show. A total of 134,142 people went bankrupt or took out an Individual Voluntary Arrangement (IVA) or Debt Relief Order during the year, according to the Insolvency Service.

Saturday, February 6th 2010 - 01:45 UTC

Spain’s economy contacted 3.6% in 2009, the most in decades

Miguel Fernandez Ordoñez, Bank of Spain governor

First the bad news: Spain's economy contracted by 3.6% in 2009, the most in decades, as domestic demand plummeted according to a Bank of Spain estimate that was in line with government forecasts.

Friday, February 5th 2010 - 02:39 UTC

World markets collapse on fears of Euro zone debt problems

Jean-Claude Juncker, head of Euro-group Finance ministers said Portugal and Spain posed no risks to Euro stability

Concerns about the US economy and the potential spread of debt problems in the Euro zone (Greece, Portugal and Spain) have led to large falls in world stock markets. US and key European markets lost more than 2% while those in Spain and Portugal fell by more than 5%.

Thursday, February 4th 2010 - 23:21 UTC

Trichet forecasts Euro zone recovery at moderate path but with bumps

ECB President Jean Claude Trichet trying to defend Greece

The euro zone economy will continue to grow at a moderate pace but with bumps on its path to recovery, European Central Bank (ECB) President Jean-Claude Trichet said on Thursday.

Thursday, February 4th 2010 - 18:09 UTC

Closer ties with France and other allies in UK’s forces future

UK Defence Secretary Bob Ainsworth launches the Green Paper

The British Armed Services will have to rely more on France and other international allies as they face “tough choices” in the coming years, said UK Defence Secretary Bob Ainsworth on the launching of Government Green Paper that will pave the way for a full-scale strategic defence review after the General Election.


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