International

• Wednesday, July 6th 2011 - 22:51 UTC

  Australian airline to experiment with eucalyptus oil as aviation fuel

  

  A commercial scale plant supplying Virgin Australia with aviation fuel derived from eucalypt trees could be up and running by 2014, announced on Wednesday the airline. In conjunction with three partners a demonstration plant in Western Australia is planned for 2012 and fully operational facility within three years

• Wednesday, July 6th 2011 - 22:27 UTC

  New IMF chief promises emerging markets a greater sway

  

  New IMF Managing Director Christine Lagarde pledged to push ahead with reforms to give fast-growing emerging markets greater sway at the global lender and said the world economy was on the rebound.

• Wednesday, July 6th 2011 - 20:46 UTC

  Royal blessing for Gibraltar priest to head leading Catholic college in Valladolid

  

  The King of Spain will approve the appointment of Father John Pardo as head of the Catholic college in Valladollid.

• Wednesday, July 6th 2011 - 20:30 UTC

  Luxembourg group becomes third largest share holder of Spain’s Pescanova

  

  Pescanova president, Manuel Fernández de Sousa-Faro, decided to sell 5.1% of the company's stake to Luxempart investment group for EUR 29.76 million.

• 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.