China and the UK are to develop an offshore trading hub for the Yuan based in London. UK Chancellor George Osborne confirmed the agreement after meeting with Chinese vice-premier Wang Qishan in London.
UK interest rates have been held at a record low of 0.5% by the Bank of England's Monetary Policy Committee (MPC). Concerns about the strength of the UK economic recovery meant economists had expected rates to remain unchanged as they have been since March 2009.
In a stunning display, the Commonwealth Youth Games opened in Douglas on the Isle of Man Thursday.
Mosquitoes can rapidly develop resistance to bed nets treated with insecticide, a new study from Senegal suggests. In recent years the nets have become a leading method of preventing malaria, especially in Africa.
An Argentine Lieutenant colonel and an Army captain will become the first gay military couple to marry since Argentina legalized such unions last year.
International tourism grew by almost 5% in the first half of 2011 totalling a new record of 440 million arrivals according to the World Tourism Organization, the United Nations organization for the sector.
Ratings agency Standard & Poor's officials privately met with large bond-investors weeks before the firm's US debt downgrade, leaving some believing the chance of a rating downgrade was higher than they had previously thought, the Wall Street Journal said.
Italy and Spain have passed new austerity measures as they battle to control their debts. Italy's upper house of parliament approved an austerity package which should cut its deficit by some 54 billion Euros over three years.
Experts from South America, US, Europe, India and China will be discussing next week in Rosario, Argentina the possibility of an Asia-Mercosur grains and oilseeds market in which soybeans will be playing the leading trade role.
Thousands of people have joined anti-corruption demonstrations in Brazil, as the country marked on Wednesday its Independence Day. Wearing face paint and clown noses, protesters joined crowds watching the traditional military parade in the capital, Brasilia. Similar protests were held in other cities across Brazil.