International

International
Saturday, May 28th 2011 - 07:18 UTC

Tough prospects for Japan: car output down; credit rating lowered and recession

Toyota’s April domestic production was down 75%

A complicated week for Japan: car production in April plunged as manufacturers continue to face a shortfall in parts supply and credit rating agencies downgraded the outlook on the country’s debt to negative from stable.

Saturday, May 28th 2011 - 00:36 UTC

Uruguay successfully floats Samurai bonds; warnings of economy over-heating

Economy minister Fernando Lorenzo headed the road-show in Japan

Interest for Uruguayan ten-year bonds in Yens more than doubled the issue equivalent to 490 million US dollars. The bonds are guaranteed by Japan Bank for International Cooperation with a 1.6% yield.

Friday, May 27th 2011 - 22:07 UTC

Air France flight 447 stalled and in three and a half minutes crashed into the Atlantic

All indicates that the speed probes, since then changed in all other aircraft, failed

The Air France jet which crashed into the Atlantic en route from Rio in 2009 stalled and fell in three and a half minutes, French investigators report. The air accident investigations bureau (BEA) found the crew had struggled with contradictory speed readings just before the plane crashed.

Friday, May 27th 2011 - 18:37 UTC

Lagarde too committed to the Euro to be nominated IMF chief, says top economist

MIT Professor Simon Johnson and former IMF chief economist

Finance Minister Christine Lagarde is the wrong choice to head the International Monetary Fund as it gets deeper into the Euro-zone rescue, a former IMF chief economist said this week.

Friday, May 27th 2011 - 12:38 UTC

Impact investment fund targeting low-cost housing in Brazil launches in London

David Palumbo, Director of Origen Private Equity Ltd.

Origen Private Equity Ltd., a boutique investment firm headquartered in London, is launching in June what is set to be the first impact investment fund developing low-cost housing in north-east Brazil in conjunction with the Brazilian government's Minha Casa Minha Vida programme.

Friday, May 27th 2011 - 09:15 UTC

Lamy calls G20 not to fall prey of protectionism; points to Russia and Argentina

WTO Director General Lamy: ‘beware of devastating effects’

World Trade Organization Director General Pascal Lamy warned world leaders that adopting protectionist measures can have “devastating effects” on the global economy. Addressing the G 20 group Lamy called on the leaders to resist “the temptations of protectionism”.

Friday, May 27th 2011 - 09:11 UTC

Top economists anticipate ‘restructuring’ of Greek debt or ‘booting’ out of the Euro

How to address an ‘unsustainable debt’ by Dr. Doom Roubini and Paul Krugman

Nouriel Roubini, the New York University economist known as Dr Doom, says Greek restructuring would not bring down Europe's financial system. The economist, who earned his nickname by predicting the global financial crisis, says an orderly debt restructuring could pre-empt more trouble.

Friday, May 27th 2011 - 02:00 UTC

OIE declares the world free of rinderpest, one of the deadliest cattle diseases

Dr Bernard Vallat, Director General of the OIE made the official announcement

The World Organization for Animal Health (OIE) declared rinderpest, one of the deadliest diseases of cattle and of several other animal species, eradicated from the surface of the earth.

Friday, May 27th 2011 - 01:48 UTC

WTO says Doha round faces collapse unless agreement is reached before 2012

Former World Trade Organisation Director-General Peter Sutherland

Doha round of negotiations on world trade faces collapse unless world leaders can reach a final agreement to lift trade tariffs before the end of the year, a new report by the governments of the UK, Germany, Turkey and Indonesia warned this week.

Thursday, May 26th 2011 - 23:53 UTC

G8 promises aid in support of ‘Arab spring’ and democratic consolidation

French president Nicholas Sarkozy chairs the G8 meeting in Deauville (Photo Reuters)

The Group of Eight leaders meeting in France are expected to approve on Friday billions of dollars in aid in support of the ‘Arab spring’ with a program designed to foster change sweeping North Africa and the Middle East.

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