International

• Thursday, April 9th 2009 - 08:40 UTC

  Chinese steel industry insists with 40% cut in iron ore prices

  

  China's steel group insisted this week with a cut of at least 40% in annual term iron ore prices after a news report said Rio Tinto Ltd is offering a smaller discount before new annual contract negotiation ends, according to reports in the Chinese press. “Our request hasn't changed,” said Shan Shanghua, secretary general of the China Iron and Steel Association.

• Thursday, April 9th 2009 - 08:36 UTC

  Argentina looks again towards the IMF, says Buenos Aires press

  

  Argentina could be at a turning point in its relation with the International Monetary Fund, IMF, particularly following the participation of President Cristina Fernandez de Kirchner in the London G20 summit, according to reports in the Buenos Aires press.

• Thursday, April 9th 2009 - 08:22 UTC

  Spanish cabinet reshuffle with new Finance minister

  

  Spanish President Jose Luis Rodriguez Zapatero announced Tuesday several ministerial changes in response to current political circumstances and to strengthen the Government’s hand ahead of assuming the European Union presidency in 2010.

• Wednesday, April 8th 2009 - 01:59 UTC

  OECD removes all countries from tax havens blacklist

  

  The Organization for Economic Cooperation and Development (OECD) announced the removal of all countries blacklisted for alleged tax havens. “OECD welcomes recent commitments to the internationally agreed tax standard on exchange of information made by Costa Rica, Malaysia, Philippines and Uruguay”.

• Wednesday, April 8th 2009 - 01:54 UTC

  Euro zone fourth quarter contraction larger than estimated

  

  The Euro zone economy shrank more than previously estimated in the last three months of 2008, official figures say. GDP in the 15-nation area fell 1.6%, not 1.5% as previously thought, said the EU Eurostat office. Compared to the final quarter of 2007, GDP fell 1.5%, wider than an earlier estimate of a 1.3% decline.

• Wednesday, April 8th 2009 - 01:51 UTC

  Joint Gibraltar Spanish cross-border procession for Our Lady of Europe

  

  Gibraltar’s Bishop has met a Spanish diplomat in the Campo de Gibraltar to secure Madrid’s help in the planning of a cross-border procession to mark 700 years of devotion to Our Lady of Europe. The meetings were part of a wider effort to finalise arrangements for the walk and associated events, reports the Gibraltar Chronicle.

• Wednesday, April 8th 2009 - 01:41 UTC

  European funding for Jaguar Land Rover and Nissan

  

  The European Investment Bank (EIB) has approved funding for two carmakers in the UK, Jaguar Land Rover and Nissan. The EIB approved a £340m package for Jaguar Land Rover to help cut vehicle emissions.

• Tuesday, April 7th 2009 - 12:49 UTC

  Venezuelan and Japan leaders agree to deepen ties

  

  Japanese Prime Minister Taro Aso and Venezuelan President Hugo Chavez agreed Monday to deepen ties in energy, investment and trade, with Japanese companies ready to participate in gas and crude production in the Latin American country.

• Tuesday, April 7th 2009 - 12:00 UTC

  US calls for strict regulation on Antarctic tourism

  

  United States Secretary of State Hillary Clinton called on Monday for tighter regulation of Antarctic tourism as delegates from 47 countries began a review conference of the now 50-year-old Antarctic Treaty.

• Tuesday, April 7th 2009 - 11:47 UTC

  Petrobras and Repsol agree to develop oil and gas off Santos

  

  The consortium formed by Brazil’s government managed oil and corporation Petrobras (63%, operator) and Spain’s Repsol (37%) has delivered a Declaration of Commercial Viability for a light oil and gas discovery made in reservoirs located above the salt layer, in block BM-S-7, in the Santos Basin.