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.
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.
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.
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.
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.
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.
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.
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.
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.
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.