Friday, August 13th 2010 - 02:40 UTC

UK faces “choppy recovery” in the next two years warns Bank of England

Mervyn King governor of the Bank of England

The UK economy faces a “choppy recovery” over the next two years, the governor of the Bank of England, Mervyn King, has warned. His comments came as the Bank lowered its economic growth forecast and said inflation would stay higher for longer than previously forecast.

Thursday, August 12th 2010 - 20:31 UTC

Russian drought and fires catches the US with record crops of corn and soybeans

USDA estimates Russian wheat crop is down at least 15%

Russian President Dmitri Medvedev says a full one-quarter of Russia's grain crops have been destroyed by weeks of drought and wildfires, leaving many Russian farmers close to bankruptcy.

Thursday, August 12th 2010 - 18:00 UTC

Spain top of the list for European pensioners seeking to relocate

Apparently sun and sea are the main attractions

Sun, sea and sangria come top of the list for European pensioners seeking to relocate for retirement, a new survey showed this week. The survey by employee management consulting firm Aon Corporation found that one in four Europeans wishing to retire abroad would like to move to Spain, followed by France, Italy and the United States.

Thursday, August 12th 2010 - 17:56 UTC

Possible way out to Gibraltar/La Linea ‘car congestion tax’ controversy

Rosa Torres Andalucía PSOE ruling party chair said La Linea would regain special status

Spain's Public Works Ministry (Ministero de Fomento) has refused La Linea permission to divert traffic toward a toll gate, in a move that could scupper controversial plans to tax drivers heading to Gibraltar, reports the local press.

Thursday, August 12th 2010 - 04:22 UTC

Sterling holders interest in property moves to Netherlands and Germany

Spectacular Dubai and Eastern Europe the big losers

Sterling holders interest in hitherto hot overseas property destinations has decidedly cooled due to the recession, a report out this week showed. Searches for property in the United Arab Emirates, which includes Dubai, have dipped 80% in the last two years, the report from foreign exchange company Moneycorp and the Rightmove property company found.

Wednesday, August 11th 2010 - 23:56 UTC

Chinese industrial growth slows down for fifth consecutive month

Inflation in July also accelerated as floods destroyed crops driving up food prices

Chinese industrial growth slowed again in July, adding to data suggesting that the country's economy is cooling. Factory output was up 13.4% from July 2009, but this was the fifth consecutive month the annual pace had slowed and the lowest rate of 2010.

Wednesday, August 11th 2010 - 06:38 UTC

Church bells in Wales return home to Santiago to mark Chile’s bicentennial

Minister for Latin America Jeremy Browne: “a truly remarkable story” (Pic BBC)

A set of church bells that survived a Santiago fire and spent almost 150 year in Wales will return to Chile to mark the country's bicentennial celebrations, Minister for Latin America Jeremy Browne made the announcement Tuesday.

Wednesday, August 11th 2010 - 06:31 UTC

Falklands’ air-bridge Air Seychelles begins to comply with EU emissions rules

The Boeing 767 chartered to fly to the Falklands

Air Seychelles which currently covers the Falkland Islands/United Kingdom air bridge is in the process of meeting the European Union’s emissions’ monitoring and reporting requirements, reports Global Travel Industry News.

Wednesday, August 11th 2010 - 06:25 UTC

China’s import growth slowed down in July, while exports kept rising

Controversy with the US over the right price for the Yuan is anticipated

China's import growth slowed in July, which economists are seeing as a sign that the country's rapid economic expansion is cooling. Imports climbed by 22.7% compared with a year ago to 116.8 billon US dollars, which is well below the 53% expansion seen in June.

Wednesday, August 11th 2010 - 06:21 UTC

Japan leaves benchmark rate on hold; fears Chinese slowdown

Naoto Kan does not discard additional stimulus spending

Japan's central bank has kept its benchmark interest rate unchanged as it tries to nurture the country's slow recovery from recession while also attempting to tackle deflation. Rates have been held at 0.1% since the end of 2008.


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