The head of the United Nations Framework Convention on Climate Change (UNFCCC) proposed Tuesday the convening of a global summit backed by the UN to plan a future course of action for tackling the cross-cutting problem.
Iranian president Mahmoud Ahmadinejad currently on a visit to the three Latinamerican countries most vocal critics of United States said on Sunday that Nicaragua and Iran share common interests, common enemies and common goals
Vietnam became this week the 150th member of the World Trade Organization. U.S. Trade Representative Susan Schwab welcomed Vietnam into the WTO saying this is an historic day for Vietnam and the rules-based global trading system.
The Chinese economy expanded 10.5% in 2006, the fourth year running it has been growing at double digit pace revealed on Friday Ma Kai head of the powerful Development and Reform Committee, NDRC.
An expected dampening of the world economy in 2007 after three years of healthy growth has the weakening US housing market primarily to blame, a UN economic report released yesterday said.
The Bank of England raised Thursday UK interest rates to 5.25% from 5% in an effort to curb inflation and surprising analysts who were expecting the decision for next month.
The European Central Bank balancing growth against inflation held its key interest rate steady at 3.5% Thursday but is expected to keep a close eye on prices and economic momentum ahead of a possible increase in March.
Oil plunged Thursday to its lowest level price since May 2005, below 52 US dollars a barrel, following the continued steep rise in heating oil stocks in United States and a resumption of crude pumping top Europe by Russia.
Foreign direct investment (FDI) grew in 2006 for the third consecutive year to reach 1.2 trillion US dollars according to initial estimates released Tuesday by the United Nations, which also warned that economic growth is likely to slow this year because of high commodity prices and other factors.
China's trade surplus in 2006 reached a mind bogging 177.5 billion US dollars compared to 102 billion in 2005, reported Wednesday the Chinese news agency Xinhua.