International

• Wednesday, July 6th 2011 - 15:48 UTC

  China hikes rates for the third time this year to combat inflation

  

  China has increased its main interest rates for the third time this year to try to curb inflation. Chinese central bank, the People's Bank of China, said its one-year lending rate would rise to 6.56% from 6.31% and its one-year deposit rate to 3.5% from 3.25%.

• Wednesday, July 6th 2011 - 15:42 UTC

  EU blasts credit rating agencies for downgrading Portugal in midst of negotiations

  

  European Commission strongly criticised international credit ratings agencies following the downgrade of Portugal by Moody's. The Commission said the timing of the downgrade was “questionable” and raised the issue of the “appropriateness of behaviour” of the agencies in general.

• Wednesday, July 6th 2011 - 06:23 UTC

  Poland warns trade agreements must abide by EU sanitary and food security standards

  

  Poland which currently holds the rotating chair of the European Union presidency warned that any trade agreements with third parties must strictly abide by the EU sanitary and food security standards.

• Tuesday, July 5th 2011 - 20:02 UTC

  IMF transparency reveals Lagarde’s salary and strict ethics requirements

  

  The IMF revealed its new managing director Christine Lagarde who took office on Tuesday will receive an annual salary of 467,940 US dollars net of income taxes and told her to “observe the highest standards of ethical conduct.”

• Tuesday, July 5th 2011 - 19:28 UTC

  Ireland anticipates rejection of EU/Mercosur trade accord on beef

  

  The Irish government is expecting a report from the European Commission setting out the economic impact on Eire of a potential trade agreement between the EU and Mercosur.

• Tuesday, July 5th 2011 - 19:13 UTC

  When Falklands and the World Cup 1982 nerve-wracked the Foreign Office

  

  According to recently released document the government of Prime Minister Margaret Thatcher wanted Scotland to crash out of the 1982 World Cup in Spain in an attempt to avoid a diplomatic headache over the Falklands conflict.

• Tuesday, July 5th 2011 - 19:00 UTC

  Statue of President Reagan, crucial ally of Mrs Thatcher, unveiled in London

  

  A statue of former US President Ronald Reagan has been unveiled at a ceremony outside the American embassy in central London. The invited guests include former UK Prime Minister Baroness Thatcher - who was a close ally of Reagan when they were both in power in the 1980s.

• Tuesday, July 5th 2011 - 18:50 UTC

  Brazil and UK discuss defence cooperation and Atlantic security in London

  

  Strengthening Brazil-UK defence cooperation agreement and building Atlantic and wider security are among the issues to be addressed by UK and Brazil during the three day visit of Defence minister Dr Nelson Jobim to Britain

• Tuesday, July 5th 2011 - 05:36 UTC

  Spain next candidate to request major aid package, say London bookies

  

  Following the second rescue of Greece, Spain is the next candidate to request a major financial aid package according to William Hill one of the largest bookmakers in the United Kingdom.

• Tuesday, July 5th 2011 - 00:15 UTC

  Brize Norton becomes the new home for the RAF Hercules Force

  

  As of this month RAF Lyneham's Hercules fleet has a new base at RAF Brize Norton which is becoming critically important as an RAF logistics support hub including the air bridge with the Falkland Islands.