Monday, July 6th 2009 - 12:56 UTC

Long live the all mighty US dollar as reserve currency, says China

He Yafei: questioning the US dollar is an “intellectual debate”

Chinese Deputy Foreign Minister He Yafei said on Sunday the US dollar would continue to be the world's leading reserve currency for years to come. The announcement comes before this week’s summit of the Group of Eight in Italy.

Monday, July 6th 2009 - 09:41 UTC

Gibraltar joins Spanish and UK officials to prepare ministerial meeting

Spanish Foreign Secretary Moratinos will be present at the full meeting

A delegation from Gibraltar with Chief Minister Peter Caruana is participating of a three day non-ministerial round of the Tripartite Forum in Madrid which is expected to prepare the ground for a full ministerial meeting of the Forum in mid-July that will include Spanish Foreign Secretary Miguel Angel Moratinos.

Monday, July 6th 2009 - 09:31 UTC

UK to announce sweeping banking reform this week

Chancellor Alistair Darling promises an end to “kamikaze” bankers

The United Kingdom Chancellor Alistair Darling has hit out at “kamikaze” bankers for damaging the British economy and said a shake-up to be unveiled this week would prevent a repeat.

Monday, July 6th 2009 - 09:15 UTC

New “marketing” for British overseas aid

“UKaid”, a change of logo, a change to raise public awareness

Britain’s overseas aid is to be re-branded in a bid to raise public awareness at home and abroad and help maintain support for spending during the downturn. The Department for International Development (DFID) will use the name “UKaid” for its funding of projects in the world's poorest countries following concerns raised by Parliament.

Saturday, July 4th 2009 - 08:19 UTC

A/H1N1 virus “unstoppable”; vaccine access a “political question”

WHO says most H1N1 cases are mild, with many people recovering unaided.

The United Nations top health official opened a forum in Mexico on combating the A/H1N1 flu saying that the spread of the virus worldwide is now “unstoppable”. World Health Organization head Margaret Chan added that the holding of the meeting in Cancun showed confidence in Mexico, which has been hard hit.

Friday, July 3rd 2009 - 06:54 UTC

European Central Bank implements “liquidity infusion”

Trichet was cautious about the Euro zone economy prospects

The European Central Bank's, ECB, kept its key rate unchanged at 1% for another month following their regular meeting. But at a news conference on Thursday ECB president Jean-Claude Trichet said he was pleased with the first results of the “liquidity infusion” to the banking system.

Friday, July 3rd 2009 - 06:49 UTC

May unemployment in Euro zone, 9.5% and 8.9% in European Union

Spain scored the worst, 18.7%  and Netherlands the best, 3.2%

The unemployment rate in the 16-nation Euro zone jumped to 9.5% in May, the highest in 10 years, as the economies in the region continued to grapple with deepening recession. For the 16 countries sharing the common currency Euro, the jobless rate is the highest since May 1999.

Friday, July 3rd 2009 - 06:44 UTC

UK concedes pandemic can’t be contained and changes to “new treatment”

Under the new system doctors will tell virus flu suspects to stay at home and be given a voucher which a friend or family member can take to a drug collection point.

The rising numbers of A/H1N1 virus flu cases mean trying to contain the virus is no longer an option says the British government says, reports BBC.

Thursday, July 2nd 2009 - 09:17 UTC

Gibraltar plans to purchase vessels “to put an end to Spanish incursions”

Chief Minister Peter Caruana made the announcement during budget week

The Gibraltar Government plans to boost its presence in Gibraltar’s territorial waters by purchasing larger vessels with which to enforce its jurisdiction reports the Gibraltar Chronicle. Chief Minister Peter Caruana made a brief reference to the plan during his closing address to Parliament at the end of last week’s budget session.

Thursday, July 2nd 2009 - 08:17 UTC

PM Brown and Tory leader Cameron clash over public spending cuts

“There's only one person we want to put on the unemployment register and that's you!”

The leader of the British opposition, David Cameron has accused the Prime Minister of “deceit” over public spending cuts. Tory leader Cameron rounded on Mr Brown at Commons question time, after he again claimed the Tories were planning 10% cuts.


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