International

• Friday, July 6th 2012 - 07:16 UTC

  US trade complaint at WTO against China for imposing duties on car exports

  

  United States launched a trade complaint Thursday against China at the World Trade Organization, accusing Beijing of unfairly imposing duties on more than 3 billion dollars in exports of US-manufactured automobiles.

• Friday, July 6th 2012 - 01:55 UTC

  FAO food price index down in June but rebound anticipated for July

  

  FAO Food Price Index fell for the third consecutive month in June 2012, dipping 1.8% from May to its lowest level since September 2010. The four-point drop in June brought the index to 201 points from a revised level of 205 points in May 2012.

• Friday, July 6th 2012 - 01:47 UTC

  Singapore sovereign-wealth fund increasing investments in Brazil and Mexico

  

  Temasek Holdings, Singapore's sovereign-wealth fund, is increasing its exposure to Brazil and the rest of Latin America because of the region's strong long-term growth prospects, the company said Thursday in a press release.

• Friday, July 6th 2012 - 01:32 UTC

  “Leaving the Euro; a practical guide” wins the 2012 Wolfson Economics Prize

  

  Economic research company Capital Economics has won the 2012 Wolfson Economics Prize, which is the second biggest prize in economics after the Nobel Prize.

• Thursday, July 5th 2012 - 22:25 UTC

  Bank of England pumps further £50 billion to the economy; total stimulus £375 bn

  

  The Bank of England has announced on Thursday it will pump a further £50bn into the UK economy over the next four months through its quantitative easing (QE) program to try to help the economy.

• Thursday, July 5th 2012 - 22:22 UTC

  ECB lowers interest to record low 0.75%; pushes banks to lend by cutting overnight rate to zero

  

  The European Central Bank cut its key interest rate by a quarter percentage point Thursday to a record low 0.75% to try to help ease Europe’s financial crisis, boost its sagging economy and restore confidence.

• Thursday, July 5th 2012 - 22:20 UTC

  China cuts interest rate a week ahead of next week’s release of second quarter stats

  

  China's central bank cut interest rates for the second time in two months to bolster an economy widely expected to record its sixth successive slide in growth in April-June.

• Thursday, July 5th 2012 - 18:07 UTC

  Drastic cut in UK Armed forces manpower preparing for “the Army of the future”

  

  UK’s Defence Secretary Philip Hammond announced that 17 units are to be axed from the British army as part of sweeping reforms that will reduce its overall strength by 20.000 posts.

• Thursday, July 5th 2012 - 07:47 UTC

  Homes, offices and shops to be built at London’s iconic Battersea power station

  

  A consortium led by Malaysia's SP Setia Bhd has bought London's iconic Battersea power station for 400 million pounds ($623 million) and will redevelop the site into homes, offices and shops, the agents managing the sale said.

• Thursday, July 5th 2012 - 07:17 UTC

  Puricelli in China praises the Hong Kong model as a good precedent for Malvinas

  

  Argentine Defence Minister Arturo Puricelli currently on a visit to Beijing underlined defence cooperation with China and said the “Hong Kong model” was a significant precedent for “the Malvinas cause”.