Russia overtook Saudi Arabia to become the world's leading oil producer in 2009, while global oil consumption fell the most since 1982, BP has said. According to the oil giant's latest Statistical Review of World Energy, Russia increased oil production by 1.5% in 2009, claiming a 12.9% market share.
Britain’s Deputy Primer Minister Liberal-Democrat Nick Clegg said in Spain there will be no change in the stance of the Falkland Islands sovereignty and the Islanders wish to remain British.
Japan is at risk of collapse under its huge debt mountain, the country's new prime minister has said. Naoto Kan, in his first major speech since taking over, said Japan needed a financial restructuring to avert a Greece-style crisis.
FIFA made a profit of 196 million US dollars in 2009 and has equity of over 1 billion thanks mainly to massive and still growing income from the sale of TV rights, soccer's governing body said on Thursday.
The following piece was written by Pravin Gordhan, South African Minister of Finance and published in Bloomberg Business Week.<br />
The 2010 World Cup soccer tournament that kicks off Friday represents much more than just a sporting spectacular for South Africa.
The European Central Bank kept interest rates in the Euro zone at 1% on Thursday as expected. June was the thirteenths month running that rates have been left on hold. ECB also supported the recent budget deficit cuts announced by several EU countries.
Finland's economy slipped back into recession during the first three months of 2010, official figures have shown. During the January to March quarter, its economy contracted by a seasonally-adjusted 0.4%, after a decline of 0.2% in October to December of last year.
Researchers at a Swiss university said Thursday that they have uncovered a microscopic fungus that is able to increase the speed of rice growth by five times. In a study published by Switzerland's University of Lausanne, researchers claimed that the fungus mycorrhiza would not only cut the use of phosphate fertilizers, it was also completely natural or GM-free.
UK interest rates have been kept on hold at a record low of 0.5% for the 15th month in a row. The Bank of England also decided on Thursday not to inject any more money into the UK economy under its policy of quantitative easing (QE).
Argentine President Cristina Fernández de Kirchner is scheduled to make an official visit to China and meet with President Hu Jintao next July, announced Foreign Minister Jorge Taiana during his visit to the Argentine pavilion in the Shanghai World Expo.