Saturday, June 27th 2009 - 10:29 UTC

Met Office forecasts heat wave in UK as of next Monday

London temperatures could reach 32C and 15C at night time

Britain could experience a heat-wave next week, the Met Office and the Department of Health said on Friday. Temperatures could reach 32C (89.6F) in London on Monday and Tuesday, with other parts of the country also enjoying prolonged sunshine.

Saturday, June 27th 2009 - 10:16 UTC

China again calls for “super-sovereign” currency to replace US dollar

Beijing is the world’s largest holder of currency reserves in US dollars, 1.95 trillion.

China's central bank has reiterated its call for a new reserve currency to replace the US dollar. The report from the People's Bank of China (PBOC) said a “super-sovereign” currency should take its place.

Saturday, June 27th 2009 - 10:12 UTC

Spain approves 9 billion Euro support fund for banking system

Banks in Spain survived the US sub-prime crisis but were hit by the real estate and home building bubble.

The Spanish cabinet approved Friday a 9 billion Euro (12.7 billion US dollars) fund to help revive the financial sector by buying stakes in banks hit by the global crisis and get them lending again.

Thursday, June 25th 2009 - 17:00 UTC

UK cocaine capital of Europe; one in 100 Londoners “problem drug user”

Cost of cocaine in the UK has increased by 50% since 2007, says UN report

The United Kingdom is the cocaine capital of Europe, the United Nations has said. The UN Office on Drugs and Crime said the UK was Europe's largest cocaine market - with more than one million regular users.

Wednesday, June 24th 2009 - 08:00 UTC

South African airways adds flights to Buenos Aires

Perth in Australia and Lagos, Nigeria are two destinations SAA is also betting on expand.

South African Airways (SAA) has added capacity to its African network in keeping with its African strategy, while strengthening its network with additional flights from Perth, Western Australia and Buenos Aires, Argentina.

Wednesday, June 24th 2009 - 07:58 UTC

Criminal charges for MPs who make false allowances claims

PM Brown wants the new legislation approved before recess at the end of July

British Members of Parliament who make false allowances claims could face criminal charges under new measures announced by Commons Leader Harriet Harman. She said the Parliamentary Standards Bill would create new criminal offences as well as establishing an independent body to oversee a reformed system of MPs' pay and perks.

Wednesday, June 24th 2009 - 03:57 UTC

South Atlantic sanctuary on bargaining table of Whaling Commission

Japan seems more flexible as to whales hunted but will not bend on setting its own quota IWC principle.

Peace talks on whales and whaling are to continue for a further year. Delegates to the International Whaling Commission (IWC) annual meeting in the Portuguese island of Madeira agreed it was worth extending reform talks that began a year ago

Tuesday, June 23rd 2009 - 11:14 UTC

Tory named Speaker of the House of Commons

Mr. “clean-break” promised a period of change and reform

Britain’s opposition Conservative Member of Parliament Tory John Bercow won the race to replace Michael Martin as Speaker of the House of Commons. Mr Bercow, MP for Buckingham, topped all three secret ballots - beating his only challenger in the third round, Sir George Young - by 51 votes.

Tuesday, June 23rd 2009 - 08:04 UTC

Roubini: risk of double dip recession in advanced economies

“So far more yellow weeds that green shoots”, points out the renowned economist.

The influential economist Nouriel Roubini, who rose to prominence for predicting the global credit crisis, said there is a risk that advanced economies will suffer a double dip recession and pointed out he saw more signs of “yellow weeds” than the green shoots of economic recovery.

Monday, June 22nd 2009 - 12:24 UTC

Net private capital inflow to developing countries falls to half in 2008

World Bank forecasts the Latinamerica and Caribbean economy to contract 2.3% in 2009

Amidst global economic recession and financial-market fragility, net private capital inflows to developing countries fell to 707 billion US dollars in 2008, a sharp drop from a peak of 1.2 trillion in 2007. International capital flows are projected to fall further in 2009, to 363 billion US dollars, according to the latest report from the World Bank.


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