Stories for March 2009

Thursday, March 19th 2009 - 16:40 UTC
Antarctic ice cap melting much faster than predicted

Two more scientific studies show a large part of the Antarctic ice cap melting at a much faster rate than previously predicted.
Thursday, March 19th 2009 - 16:34 UTC
UN pushes for ratification of global pact outlawing cluster bombs

The pace of the ratification of a global pact outlawing cluster bombs must be accelerated to relegate the deadly weapons “to the pages of history,” Deputy Secretary-General Asha-Rose Migiro said Wednesday.
Thursday, March 19th 2009 - 16:30 UTC
World Bank forecasts China to expand 6.5% in 2009

The World Bank estimates China's gross domestic product for 2009 will be 6.5%, falling short of China's own prediction of 8% growth for the year. Still, the World Bank says China's economy is holding up relatively well and it sees plenty of room for the government to implement effective stimulus measures.
Thursday, March 19th 2009 - 16:22 UTC
Saudis warn of “catastrophic” oil supply crunch in near future

Saudi Arabia's oil minister Ali al-Naimi warned Wednesday of a possible “catastrophic” energy supply crunch without prompt investment. The minister said the ideal price for oil lies between 60 and 75 US dollars a barrel.
Thursday, March 19th 2009 - 16:12 UTC
AIG chief admits “distasteful” excesses but points to the Fed

The boss of US insurer AIG has called the bonuses paid to executives “distasteful” and said he asked some recipients to return at least half. But Edward Liddy said the Federal Reserve knew in November of the 165 million US dollars bonus payments to executives that have caused such a furore in US.
Thursday, March 19th 2009 - 16:09 UTC
IDB forecasts decline of remittances to Latam

After almost a decade of growth, remittances to Latinamerica and the Caribbean are likely to decline in 2009 for the first time since the Inter-American Development Bank, IDB, started tracking these flows in the year 2000. Remittances have been decreasing since late 2008.
Thursday, March 19th 2009 - 16:06 UTC
Federal Reserve will buy 1.2 trillion USD of debt to boost lending

The US Federal Reserve said on Wednesday it will buy almost 1.2 trillion US dollars worth of debt to help boost lending and promote economic recovery. The US central bank said it would start buying long-term government debt and expand purchases of mortgage-related debt.
Thursday, March 19th 2009 - 06:19 UTC
UK jobless 2.03 million, worst since Labour took power in 1997

British Prime Minister Gordon Brown has expressed “personal regret” for every person who loses their job - as unemployment surged above the two million mark for the first time in 12 years.
Thursday, March 19th 2009 - 06:08 UTC
Condoms essential to fight AIDS epidemics says UN

With over 7,400 new HIV infections daily, comprehensive approaches – including condom use – are essential to stop the spread of the AIDS epidemic, the Joint United Nations Programme on HIV/AIDS (UNAIDS) said Wednesday, warning that there is no “single magic bullet” for prevention.
Thursday, March 19th 2009 - 05:18 UTC
Argentine squid fleet complains about costs, poor catches and unfair competition

Companies dedicated to squid (Illex argentinus) fishing still find themselves in a critical situation mainly due to an increase in fishing costs, warned this week the head of the Argentine Chamber of Jigger Fishing Vessels Shipowners (CAPA), Fernando Georgiadis.