Rich countries are not living up to their pledges to help developing countries weather the effects of the global economic crisis said Brazilian president Lula da Silva, ahead of this week’s G8 meeting in Italy.
A man has died and more than 150 people have taken ill on board a cruise liner berthed in Invergordon, Easter Ross, Scotland. The vomiting bug, norovirus, is thought to have taken hold on the Marco Polo, which is touring the UK and Ireland with about 800 passengers and 350 crew members.
China has begun a trial scheme that allows trade with its neighbours to be settled with its own currency the Yuan. Six Shanghai companies have signed contracts with counterparts in Hong Kong and Indonesia to settle deals in the currency.
The debate on the restructuring of the world economy can’t be limited to a “closed club”, be it the G8 or the G20, and the United Nations must play a “vital role” in those discussions said Economy Nobel Prize Joseph Stiglitz in a column published Monday in the French newspaper Les Echos.
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.