International

• Tuesday, May 17th 2011 - 15:21 UTC

  Potential candidates to succeed Strauss-Kahn as head of the IMF

  

  Dominique Strauss-Kahn, (DSK) the head of the International Monetary Fund, may be forced to leave his post after being accused of trying to rape a maid in his New York hotel room. IMF is currently under John Lipsky Acting Managing Director.

• Tuesday, May 17th 2011 - 05:51 UTC

  China ready to increase trade and investments in Brazil but infrastructure lacking

  

  China moved to smooth economic relations with Brazil on Monday, saying it was open to more Brazilian exports and that Chinese firms will broaden their investments in the country.

• Tuesday, May 17th 2011 - 01:05 UTC

  “Heaven is a fairy story, there is no afterlife” says eminent Stephen Hawking

  

  Heaven is a fairy story for people afraid of the dark, the eminent British theoretical physicist Stephen Hawking said in an interview. Hawking, 69, was expected to die within a few years of being diagnosed with degenerative motor neurone disease at the age of 21, but became one of the world's most famous scientists with the publication of his 1988 book “A Brief History of Time”.

• Tuesday, May 17th 2011 - 00:44 UTC

  Euro aid package for Portugal approved but private bond holders also involved

  

  Euro zone finance ministers approved Monday a three-year, 78-billion Euro emergency loan program for Portugal and said Lisbon would ask private bondholders to maintain their exposure to its debt.

• Monday, May 16th 2011 - 20:33 UTC

  IMF chief denied bail remains in custody in New York

  

  IMF Dominique Straus-Kahn, accused of attempting to rape a hotel housekeeper, was ordered held without bail by a New York judge after prosecutors argued he presented a flight risk.

• Monday, May 16th 2011 - 16:04 UTC

  Plastic made HMS Ramsey mine-hunter heads for the Middle East

  

  A Royal Navy warship that was made from plastic rather than metal to avoid triggering mines was due to set sail to the Gulf from its base at Faslane. HMS Ramsey was made from glass-reinforced plastic so can get near mines where other Navy ships cannot.

• Monday, May 16th 2011 - 05:02 UTC

  Beijing promises more trade and investments but Argentina must respect Chinese exports

  

  China Trade Minister Chen Deming promised to further increase bilateral trade with Argentina which last year reached 13.5 billion US dollars but also asked for reciprocity regarding China’s exports.

• Monday, May 16th 2011 - 03:24 UTC

  Sarkozy: no support for EU/Mercosur trade deal that cuts farmers’ income

  

  French president Nicholas Sarkozy stressed over the weekend he would not accept an European Union-Mercosur trade agreement that could mean a loss of income for European farmers.

• Monday, May 16th 2011 - 03:14 UTC

  Brazil, India current account deficits leads to ‘inevitable’ crisis warns China

  

  China will be able to avoid a financial crisis that is due to hit other developing countries over the next five to 10 years a central bank adviser was quoted as saying on Saturday.

• Monday, May 16th 2011 - 03:01 UTC

  China again hikes banks reserves requirements, fifth time this year

  

  In an attempt to cool inflation China’s Central bank raised banks’ reserve requirements for the fifth time this year. The half-point increase takes effect May 18 and will boost levels for China’s biggest lenders to a record 21%.