International

• Saturday, July 5th 2008 - 21:00 UTC

  China agrees to pay double for BHP Billiton iron ore

  

  Mining giant BHP Billiton has reached a deal with China's largest steelmaker to almost double iron ore prices. Under the agreement, covering contracts for one year from 1 April 2008, BHP will increase its prices by up to 96.5% for deliveries to state-owned Baosteel.

• Friday, July 4th 2008 - 21:00 UTC

  Seoul government cornered by US beef triggered crisis

  South Korea's president called for an end to an on going dispute over United States beef imports, saying it was time for the nation to concentrate on overcoming domestic and economic difficulties.

• Friday, July 4th 2008 - 21:00 UTC

  China/Taiwan regular direct flights break 60 year ban

  

  The first regular, direct flight from mainland China to Taiwan for nearly 60 years landed on Friday at the capital Taipei's airport. China's top official on Taiwan affairs said the flight was “a new start” in exchanges between Taipei and Beijing.

• Thursday, July 3rd 2008 - 21:00 UTC

  Euro zone hikes basic rate to 4.25%; oil at new record

  

  The European Central Bank hiked on Thursday its key rate 25 points to 4.25%. This is the first rise in a year and is geared to contain food and fuel prices that in June reached an annualized 4%, the highest since 1996.

• Thursday, July 3rd 2008 - 21:00 UTC

  UK Defence £ 3 billion contracts for two new aircraft carriers

  

  Britain's Ministry of Defence signed this week contracts to build two future aircraft carriers, to be named HMS Queen Elizabeth and HMS Prince Of Wales, the biggest and most powerful surface warships ever constructed in the UK.

• Thursday, July 3rd 2008 - 21:00 UTC

  Food security in poor nations keeps degrading says FAO

  

  Soaring food prices have pushed 50 million more people to go hungry, the head of the United Nations Food and Agriculture Organization (FAO) said on Thursday, calling for stepped-up global cooperation to boost food security in poor nations.

• Wednesday, July 2nd 2008 - 21:00 UTC

  Saudi king: oil price cheap compared to alternative energy

  

  Saudi Arabia King Abdullah said on Tuesday that the current oil price was cheap compared to prices of alternative energy products available in the world and called upon people in consuming countries to adapt with rising oil prices.

• Wednesday, July 2nd 2008 - 21:00 UTC

  World in grip of third “oil shock” and no easy way out

  

  Oil supplies will remain tight despite record prices that have reduced demand and the world is in the grip of its third “oil shock”, according to the International Energy Agency report released this Tuesday in Madrid.

• Wednesday, July 2nd 2008 - 21:00 UTC

  FAO warns about impact of increasing land degradation

  

  Land degradation is on the rise in many parts of the world, with direct consequences for an estimated 1.5 billion people – or a quarter of the world's population – the United Nations Food and Agriculture Organization, FAO said on Wednesday, calling for renewed attention to tackle the issue.

• Wednesday, July 2nd 2008 - 21:00 UTC

  Typhoon becomes RAF most advanced multi-role aircraft

  

  The Royal Air Force's Typhoon aircraft marked another milestone in its capability this week when it was declared operational in the air-to-ground role, becoming the Service's most advanced multi-role aircraft. The multi-role capability means that RAF Typhoons can now carry out precision Ground Attack as well as Air Defence tasks