International

• Thursday, April 7th 2011 - 19:05 UTC

  Euro zone raises interest rate fearing inflation; “sorry peripheral countries”

  

  Euro-zone interest rates have been raised to 1.25% from the record low of 1% by the European Central Bank (ECB). Interest rates had been held at 1% for just under two years following the financial crisis and global recession.

• Thursday, April 7th 2011 - 18:26 UTC

  Global trade forecasted to grow 6.5% this year after a record 14.5% in 2010

  

  Global commerce will grow 6.5% this year after expanding a record 14.5% in 2010 as economies from China to Brazil recover from the worst recession in six decades, the World Trade Organization said on Thursday.

• Thursday, April 7th 2011 - 09:11 UTC

  Portugal admits the facts, formally requests a bailout from the EU

  

  Portugal's caretaker government said on Wednesday it had decided to seek financing from the European Union in an abrupt turnaround after resisting a bailout for months despite sharply deteriorating financial conditions.

• Wednesday, April 6th 2011 - 19:48 UTC

  Instituto Cervantes at a new home in Gibraltar with a vast program of activities

  

  Spain’s Instituto Cervantes for the promotion of Spanish language and culture opened this week its doors at Cloister Building in Gibraltar. The local director of the institute, Francisco Oda said that the centre was ready to welcome everyone now that it had moved to its home in Market Lane.

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

  UK increases funds for South Georgia and the British Antarctic Territory

  

  The UK Government has announced it is to increase funds for South Georgia and the other UK Overseas Territories. On March 10th the UK Secretary of State for Foreign and Commonwealth Affairs, William Hague, announced the increase of the Overseas Territories Programme Fund to £7m per year and a special one off payment of £1 million to GSGSSI this year, reports the March edition of South Georgia Newsletter.

• Wednesday, April 6th 2011 - 06:13 UTC

  Spain’s official unemployment above 20%, with 43% of young Spaniards jobless

  

  Spain’s official unemployment advanced for a third month in March, deepening the divide between peripheral economies struggling to recover from the financial crisis and Germany’s booming labour market. It was the worst record for Spain since 1996.

• Wednesday, April 6th 2011 - 05:52 UTC

  Radioactive fish lead to first legal limits for radiation in seafood

  

  High levels of radioactive iodine and cesium were detected by Japan’s Fisheries Ministry in fish caught near the Fukushima nuclear power plant this week. Japan has responded to the findings by announcing its first legal limits for radiation in fish and said it is considering a ban on exports of some marine products.

• Wednesday, April 6th 2011 - 05:48 UTC

  IMF paper with proposals on capital controls triggers heated debate

  

  An IMF staff proposal to endorse capital controls in limited circumstances aroused opposition from Brazil and other nations seeking greater freedom to stem inflows of money from overseas.

• Tuesday, April 5th 2011 - 21:23 UTC

  China anticipating higher inflation hikes interest rate by 25 basis points

  

  China’s central bank announced Tuesday it would raise the benchmark one-year borrowing and lending interest rates by 25 basis points beginning Wednesday. This is the second time that The People’s Bank of China raises the benchmark interest rate this year and the fourth such increase since the start of last year.

• Tuesday, April 5th 2011 - 09:49 UTC

  Nazi criminal Eichmann tapes: the mistake was “we didn't do our job properly”

  

  Tapes revealed by Germany’s Der Spiegel shed light on the life of a fugitive Nazi criminal in Argentina after the Second World War (1939/1945). Contrary to his claim during his trial in Israel that he was only following orders, Adolf Eichmann boasted to his friends that he was part of decision making process.