International

• Sunday, October 9th 2011 - 09:50 UTC

  With time running out Berlin/Paris summit to agree on Euro banks’ recapitalization

  

  European banks may need more than 100 billion Euros to withstand the sovereign debt crisis, Ireland estimated, ahead of a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy to work out how to recapitalise the lenders.

• Sunday, October 9th 2011 - 07:23 UTC

  World Bank calls on Germany to take stronger political leadership in Euro crisis

  

  The World Bank has called on Germany to take a stronger political leadership role in Europe in order to end the Euro zone debt crisis.

• Saturday, October 8th 2011 - 08:20 UTC

  Chronicle of a foretold cut: Fitch downgrades Italy and Spain’s credit rating

  

  Fitch cut on Friday Italy's sovereign credit rating by one notch and Spain's by two, citing a worsening of the Euro zone debt crisis and a risk of fiscal slippage in both countries. Fitch cut Italy's rating to A+ from AA- and lowered Spain to AA- from AA+.

• Saturday, October 8th 2011 - 08:16 UTC

  Moody’s downgrades 12 UK finance firms on fears BoE will not rescue weak banks

  

  Moody's has downgraded the credit rating of 12 UK financial firms including Lloyds TSB, RBS, Nationwide and Santander UK. The ratings agency said it now believed the government was less likely to support firms that got into trouble.

• Friday, October 7th 2011 - 17:50 UTC

  Nobel Peace Prize honours indomitable women and the “Arab Spring”

  

  Declaring women's rights vital for world peace, the Nobel Committee awarded its annual Peace Prize today to three indomitable campaigners against war and oppression - a Yemeni and two Liberians, including that country's president.

• Thursday, October 6th 2011 - 22:10 UTC

  FAO anticipates ‘tight’ cereal markets in 2011/12 and lower prices

  

  Despite improved production prospects, world cereal markets are likely to remain fairly tight in 2011/2012, FAO announced this week. Prices on the other hand will tend to decline as a result of softer demand because of worsening economic conditions.

• Thursday, October 6th 2011 - 20:37 UTC

  Falklands have the highest rate of network use in the world, says IMI

  

  According to a report released by the Internet Market Institute, the highest rate of network use in the world is in the Falkland Islands. Taiwan ranked number 35 on the list and was number 5 in Asia, reports the Taiwan News.

• Thursday, October 6th 2011 - 18:04 UTC

  Dangerous skirmishes anticipated when Japan begins Antarctica whaling season

  

  New Zealand joined Australia in criticizing Japan’s decision to resume whaling in Antarctic waters later this year and Tokyo's announcement that it will increase security for its whaling fleet.

• Thursday, October 6th 2011 - 17:41 UTC

  ECB takes the first step of an anticipated major effort to bolster EU banks

  

  The European Central Bank is offering new emergency loans to banks to help steady the Euro zone's financial crisis. The new funding, worth about 40bn Euros would enable banks to draw down one-year loans.

• Thursday, October 6th 2011 - 17:06 UTC

  China, the white knight of success, is facing its own debt bubbles

  

  With its deep pockets and buoyant growth, China has been touted as a white knight for the world economy. But fears are growing that the country may face its own debt crisis as its economy shows signs of a slowdown.