International

• Thursday, July 9th 2009 - 12:25 UTC

  Bank of England to pump extra £ 25 billion to UK economy

  

  The Bank of England is set to pump an extra £25 billion into the recession-blighted UK economy. The rate-setting Monetary Policy Committee (MPC) is expected to vote to step up its quantitative easing programme - effectively printing more money - while holding interest rates at their record low of 0.5%.

• Thursday, July 9th 2009 - 12:14 UTC

  Repsol in the process of selling YPF to China, says Beijing press

  

  Chinese media based on reliable sources from the country’s giant oil corporation CNPC (China National Petroleum Corporation) report the almost certain sale by Spain’s Repsol of 75% of its subsidiary YPF, an operation involving 14.5 billion US dollars

• Wednesday, July 8th 2009 - 11:50 UTC

  Brazil and France call for a more “democratic world order”

  

  French President Nicolas Sarkozy and visiting Brazilian President Lula da Silva called Tuesday for a more “democratic world order” that would give emerging economies a larger voice in international finance and justice affairs.

• Wednesday, July 8th 2009 - 07:30 UTC

  UK political consensus for Armed Forces review and spending cuts

  

  The United Kingdom government has laid the ground for the first full-scale review of Britain's armed forces for more than a decade once the general election is out of the way.

• Wednesday, July 8th 2009 - 07:21 UTC

  Tokyo, Osaka, Moscow, Geneva, Hong Kong, most costly cities

  

  London no longer stands among the most expensive cities in the world to live in, as the fall in value of sterling and declining house prices have made life less expensive in the UK capital according to Mercer consultancy.

• Tuesday, July 7th 2009 - 11:17 UTC

  Lula da Silva criticizes G8 summit; calls for BRIC participation

  

  Rich countries are not living up to their pledges to help developing countries weather the effects of the global economic crisis said Brazilian president Lula da Silva, ahead of this week’s G8 meeting in Italy.

• Tuesday, July 7th 2009 - 10:01 UTC

  Possible first death of Norovirus on cruise vessel

  

  A man has died and more than 150 people have taken ill on board a cruise liner berthed in Invergordon, Easter Ross, Scotland. The vomiting bug, norovirus, is thought to have taken hold on the Marco Polo, which is touring the UK and Ireland with about 800 passengers and 350 crew members.

• Tuesday, July 7th 2009 - 09:46 UTC

  First test for China’s Yuan as trade currency

  

  China has begun a trial scheme that allows trade with its neighbours to be settled with its own currency the Yuan. Six Shanghai companies have signed contracts with counterparts in Hong Kong and Indonesia to settle deals in the currency.

• Tuesday, July 7th 2009 - 07:00 UTC

  Stiglitz calls for an open debate on the global financial reform

  

  The debate on the restructuring of the world economy can’t be limited to a “closed club”, be it the G8 or the G20, and the United Nations must play a “vital role” in those discussions said Economy Nobel Prize Joseph Stiglitz in a column published Monday in the French newspaper Les Echos.

• Monday, July 6th 2009 - 12:56 UTC

  Long live the all mighty US dollar as reserve currency, says China

  

  Chinese Deputy Foreign Minister He Yafei said on Sunday the US dollar would continue to be the world's leading reserve currency for years to come. The announcement comes before this week’s summit of the Group of Eight in Italy.