International

• Friday, September 23rd 2011 - 07:33 UTC

  Greek default would expose European banks in 300 billion Euros

  

  History's first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. There was one creditor: the temple of Delos, Apollo's mythical birthplace.

• Friday, September 23rd 2011 - 07:27 UTC

  US and EU markets negative sentiment extends to Asian stocks with record losses

  

  Asian stocks have fallen on Friday, with some indexes driving towards their worst weekly losses since 2008. The Group of 20 nations said they were ready to preserve stability in the financial markets.

• Thursday, September 22nd 2011 - 22:17 UTC

  IMF re-activates resource pool of 571 billion for another six months

  

  The International Monetary Fund re-activated this week a 571 billion dollars resource pool to ensure it has funds to help cover Europe's worsening sovereign-debt crisis. The IMF extended activation of its so-called New Arrangements to Borrow for a six-month period from October.

• Thursday, September 22nd 2011 - 20:24 UTC

  SABMiller takes over Australia’s leading brewer Foster’s Group fro 10.2bn

  

  Australian beer giant Foster's has accepted an improved takeover worth 9.9 billion Aus dollars (10.2bn US dollars) from British-based brewer SABMiller, the pair announced on Wednesday.

• Thursday, September 22nd 2011 - 11:24 UTC

  Bowhead whales from Greenland and Alaska mingle along the Arctic passage

  

  Bowhead whales, the giants of the Arctic, are using the Northwest Passage to move across the top of the Americas. Skeletons, DNA samples and harpoon heads have all suggested that bowhead populations living on each side of the continent did meet and mingle.

• Thursday, September 22nd 2011 - 08:43 UTC

  Obama tells Palestinians UN is not a short cut to negotiations with Israel

  

  US President Barack Obama told the United Nations that the Palestinians deserved a state of their own, but that this would only be achieved through talks with Israel.

• Thursday, September 22nd 2011 - 08:31 UTC

  UN launches all-out attack on non-communicable diseases such as diabetes and cancer

  

  The United Nations launched on Monday an all-out attack on non-communicable diseases (NCDs) such as cancer and diabetes with a summit meeting devoted to curbing the factors, like tobacco and alcohol use, behind the often preventable scourge that causes 63% of all deaths.

• Thursday, September 22nd 2011 - 08:21 UTC

  Fifteen “Pirates” bring fresh air to Berlin and humiliate Merkel’s coalition

  

  Last Sunday outside of Germany and probably Eastern Europe the feat was ‘uneventful’, but the Pirate party ‘captured’ 15 seats in Berlin’s state assembly with 8.5% of the votes humiliating major parties such as the Free Democrats and landing Chancellor Angela Merkel yet another political setback.

• Thursday, September 22nd 2011 - 08:04 UTC

  Air transport industry profits improving but still ‘exceptionally low”, says IATA

  

  IATA, (International Air Transport Association) announced an upgrading of its industry profit expectations to 6.9 billion dollars, up from 4 billion projected in June. IATA emphasized that, despite the improvements, profitability at these levels is still exceptionally weak (1.2% net margin) considering the industry’s total revenues of 594 billion dollars.

• Thursday, September 22nd 2011 - 07:42 UTC

  Latin America and the Caribbean’s Long-Term Growth: Made in China?

  

  Robust growth over the past decade in Latin America and the Caribbean (LAC) has had one new, key driver: China. The region’s relationship with the Asian giant has proved to be a critical source of stability, both during the global economic crisis of two years ago, the greatest since the Great Depression, and even the current market turmoil that is rolling across Europe and the United States.