International

• Monday, August 17th 2009 - 12:00 UTC

  Japan out of recession in the second quarter after expanding 0.9%

  

  Japan has come out of recession after recording growth of 0.9% in the April-June quarter, compared with the first. The economy had shown four consecutive quarter-on-quarter contractions.

• Monday, August 17th 2009 - 09:20 UTC

  British Virgin Islands and Cayman join “white list” of tax standards

  

  The British Virgin Islands and the Cayman islands have joined the global “white list” of countries using internationally recognised tax standards, the Organisation for Economic Cooperation and Development said last Friday.

• Monday, August 17th 2009 - 08:34 UTC

  Afghan death toll mounts and UK government suggests possible scaling down

  

  Britain’s Defence secretary Bob Ainsworth has suggested that the UK's role in Afghanistan could be scaled down over the next 12 months, as the death toll passed the 200 mark. Ainsworth said that reaching the sad milestone, after the 204th soldier was killed, was “grim”.

• Monday, August 17th 2009 - 08:05 UTC

  UK to intervene in support of Gibraltar in waters-dispute with Spain

  

  The British Government has confirmed that it has formally requested leave to join Gibraltar’s action in the European Court of Justice, Luxembourg regarding Madrid’s designation of Gibraltar British Territorial Waters as under Spain.

• Monday, August 17th 2009 - 07:30 UTC

  Miliband “legitimate terrorism” comment triggers controversy

  

  British opposition Tories have criticised Foreign Secretary David Miliband for comments that they say could be seen to “legitimise terrorism”. Mr Miliband told the BBC violent action or terrorism may be justifiable in some cases, in a tribute to Joe Slovo, a South African anti-apartheid activist.

• Saturday, August 15th 2009 - 12:34 UTC

  UK direct rule on Turks and Caicos Islands following corruption probe

  

  The UK has imposed direct rule on the Turks and Caicos Islands after an inquiry found evidence of government corruption and incompetence. The administration of the UK Overseas Territory in the Caribbean has been suspended for up to two years and power transferred to the UK-appointed governor. Politicians are accused of selling crown land for personal gain.

• Friday, August 14th 2009 - 14:00 UTC

  At the end of August IMF injects 250 billion USD to member countries

  

  The International Monetary Fund announced Thursday it would begin to inject 250 billion US dollars into member nations' treasuries to cushion the blows of the global economic crisis. The action is part of a 1.1 trillion US dollar plan agreed by Group of 20 leaders in early April to tackle the global financial and economic crisis.

• Friday, August 14th 2009 - 05:03 UTC

  Agreement in principle to buy 55% of GM Opel and Vauxhall

  

  Magna and its Russian partner Sberbank have reached agreement in principle with General Motors management over a contract to buy 55% of GM's European unit Opel, Magna's co-CEO Siegfried Wolf told reporters.

• Friday, August 14th 2009 - 04:51 UTC

  The 48th anniversary of the Berlin Wall

  

  This week the German capital remembered a very different summer morning in 1961. On August 13 that year, the first barricades between the eastern and western halves of the city went up. Those barricades would eventually come to be known as the Berlin Wall, reports Germany’s Der Spiegel in its English on line version.

• Friday, August 14th 2009 - 02:58 UTC

  Indian-Russian consortium interested in YPF

  

  The Economic Times from Mumbai published on its online edition an article informing that Indian government owned energy company ONGC Videsh Ltd and its overseas investment branch, OVL, is having conversations with three Russian companies -Rosneft, Lukoil and Gazprom- for acquiring a substantial stake in YPF, the Argentine arm of Spanish oil major Repsol YPF SA.