International

• Wednesday, October 20th 2010 - 02:58 UTC

  Lehman bankruptcy proceedings expenses crossed the billion US dollars

  

  Expenses related to the bankruptcy proceedings of Lehman Brothers Holdings, whose collapse worsened the financial meltdown in 2008, has crossed the 1 billion US dollar mark.

• Wednesday, October 20th 2010 - 02:55 UTC

  ‘The Independent’ smaller brother to cater ‘readers of quality newspapers’

  

  Alexander Lebedev, the Russian oligarch who owns the London Evening Standard and The Independent newspapers, will launch a new U.K. title next week to complement a new Independent format.

• Wednesday, October 20th 2010 - 02:49 UTC

  UK defence review: “peculiar” sweeping cuts in all forces

  

  Harrier jump jets, the Royal Navy's flagship HMS Ark Royal and planned Nimrod spy planes are to be axed and 42,000 Ministry of Defence and armed forces jobs cut by 2015. Unveiling the strategic defence review, British PM David Cameron said defence spending would fall by 8% over four years.

• Wednesday, October 20th 2010 - 02:39 UTC

  Baroness Thatcher admitted to hospital for infection treatment

  

  Former British Prime Minister Baroness Thatcher has been admitted to hospital to be treated for an infection. It is understood she has not fully recovered from an illness that prevented her attending Downing Street last week to mark her 85th birthday.

• Wednesday, October 20th 2010 - 01:12 UTC

  Indian commerce chambers underline Mercosur business opportunities

  

  The potential for expanding trade and investments with Mercosur was underlined by the Federation of Indian Chambers of Commerce and Industry, Fecci, following on last month’s visit to the region by a delegation of Indian business people.

• Wednesday, October 20th 2010 - 01:04 UTC

  In a surprise move China raises interest rate for the first time since 2007

  

  China has raised interest rates for the first time since 2007, as it tries to rein in inflation and dampen its red-hot real estate market. The People's Bank of China said it will raise its one-year lending rate to 5.6% from 5.31% and its one-year deposit rate to 2.5% from 2.25%.

• Tuesday, October 19th 2010 - 03:53 UTC

  Teheran reiterates to Argentina it won’t turn in suspected Iranian officials

  

  Iran has rejected an Argentine proposal to nominate a third country to host a trial of Iranian officials accused by Buenos Aires of masterminding a Jewish centre bombing that killed 85 people.

• Tuesday, October 19th 2010 - 03:06 UTC

  Piñera wants to reaffirm Chile/UK close alliance well into the XXI century

  

  Capitalizing on the wave of international admiration for the miners’ rescue, Chilean President Sebastian Piñera began Monday in 10 Downing Street his official two day visit to Great Britain underlining the close links and longstanding alliance between Chile and Britain.

• Monday, October 18th 2010 - 21:49 UTC

  China insists that reforming the Yuan “will be a gradual process”

  

  A senior IMF official tried to dampen talk of a global currency war, while China said it will stick to a gradual reform of its currency.

• Monday, October 18th 2010 - 21:44 UTC

  IMF chief warns about ‘capital flooding’ and ‘destabilization’

  

  Capital flooding into Asia could lead to excessive exchange-rate moves, asset bubbles and financial instability, Domnique Strauss-Khan, the head of the International Monetary Fund, said in Shanghai Monday.