International

Sunday, July 13th 2008 - 21:00 UTC
Poor countries need 6 billion USD annually to pay for food

Poor countries will need some 6 billion US dollars in food aid annually, with food and energy prices expected to remain high for years to come, said Robert Zoellick, president of the World Bank.
Friday, July 11th 2008 - 21:00 UTC
Iran, Nigeria fears rebound oil prices 5 USD in one day

Oil prices rebounded by more than 5 US dollars a barrel on Thursday as another missile launch by Iran stoked worries that escalating political tensions in the Middle East could cut off supplies out of the region.
Friday, July 11th 2008 - 21:00 UTC
OPEC oil earnings expected to reach 1.25 trillion USD

The Organization of Petroleum Exporting Countries earnings from oil exports are expected to reach a record 1.251 trillion US dollars this year, about 73 billion more than previously estimated, according to the US Energy Information Administration.
Thursday, July 10th 2008 - 21:00 UTC
Climate change will have “major impact” on fishing industry

Climate change is already impacting the world's oceans and will have serious consequences for the hundreds of millions of people who depend on fishing for their livelihoods, according to the United Nations Food and Agriculture Organization (FAO).
Thursday, July 10th 2008 - 21:00 UTC
Bank of England leaves interest rates on hold at 5%

United Kingdom interest rates have been kept on hold at 5% by the Bank of England following its latest meeting. The Thursday decision had been widely expected, despite calls from businesses groups to cut borrowing costs amid growing concerns about the economic slowdown.
Wednesday, July 9th 2008 - 21:00 UTC
“Conflicts of interest” proven in three credit rating agencies

A report into the much-criticized activities of credit rating agencies has found conflicts of interest at the firms it studied. The US financial regulator, the SEC, found that the firms, which rate investments, had broken its rules.
Wednesday, July 9th 2008 - 21:00 UTC
G8 “shared vision” on emissions reduction “highly ambiguous”

Leaders of the world's richest countries meeting in Japan offered some hope on climate change with the announcement of a highly ambiguous “shared vision” to halve global CO2 emissions by 2050.
Wednesday, July 9th 2008 - 21:00 UTC
UN says G8 leaders “missed opportunity” on climate change

Commenting on the outcome of the Group of Eight (G-8) Summit in Japan, the head of the United Nations Environment Programme (UNEP) said the world's richest countries had shown insufficient leadership on climate change.
Wednesday, July 9th 2008 - 21:00 UTC
Fed expects financial turmoil to persist and ready to rescue

The US Federal Reserve may extend into next year a facility that gives investment banks access to emergency cash if the financial turmoil persists. The lending facility was put in place in March to stabilize the financial system as Bear Stearns collapsed.
Wednesday, July 9th 2008 - 21:00 UTC
Trichet warns Euro nations of inflation price spiral

European Central Bank President Jean-Claude Trichet warned Wednesday that Euro nations are already seeing the first signs of an inflation price spiral and called on governments to help contain wage hikes that could fuel further price rises.