International

• Wednesday, December 23rd 2009 - 09:51 UTC

  UK economy shrinks 0.2% in third quarter; longest ever recession

  

  The United Kingdom has now lost 6% of its entire economic output in its longest ever recession, official figures have confirmed. The current slump is on a par with the 1980s recession which blighted former premier Margaret Thatcher's early years in power.

• Wednesday, December 23rd 2009 - 09:45 UTC

  RAF signs contract for seventh C 17 strategic transport aircraft

  

  The Royal Air Force has signed a contract for the seventh C17 aircraft the UK Ministry of Defence announced Tuesday. The new strategic transport aircraft will add to a fleet that has seen heavy usage during recent operations in Iraq and Afghanistan.

• Wednesday, December 23rd 2009 - 08:15 UTC

  Third credit rating agency downgrades Greek sovereign bonds

  

  A third credit ratings agency has downgraded Greek government bonds over concerns about the country's ability to reduce its high levels of debt. Moody's is the third of the three major international agencies to downgrade Greece, following similar moves by Fitch and Standard & Poor's.

• Wednesday, December 23rd 2009 - 08:09 UTC

  China's GDP per capita expected to climb to 4.000 USD by end of 2010

  

  China's GDP per capita is expected to climb to 4,000 US dollars by the end of next year, according to the 2010 social blue book issued Monday, reports Global Times.

• Wednesday, December 23rd 2009 - 08:07 UTC

  China and Taiwan agree to closer economic ties

  

  China and Taiwan have signed the latest in a series of economic deals, amid some disquiet on the island at their ever-closer relationship. Chen Yunlin, China's top Taiwan envoy, agreed the deals with his Taiwanese counterpart on the second day of his four-day visit to the island.

• Wednesday, December 23rd 2009 - 07:53 UTC

  EU votes to extend tariffs on shoes from China and Vietnam

  

  The European Union has voted to extend tariffs on shoes from China and Vietnam in order to help European producers compete with cheaper imports. The tariffs, which were first introduced in 2006, will last for a further 15 months.
  A number of countries in the EU were opposed to the extension.

• Wednesday, December 23rd 2009 - 07:46 UTC

  Spain vetoes Gibraltar for data protection and right to privacy convention

  

  Spain has vetoed Gibraltar’s role as interlocutor in a 2001 European Convention of data protection, right to privacy and exchange of data between member states, reports the Gibraltar Chronicle.

• Wednesday, December 23rd 2009 - 06:17 UTC

  Spain’s Air Comet grounded leaves thousands stranded in Latinamerica

  

  Spain's long-haul leisure carrier Air Comet stopped flying Tuesday, stranding thousands of passengers at airports in Spain and Latin America.

• Tuesday, December 22nd 2009 - 16:13 UTC

  China forecasts 11% industrial expansion and 8% for GDP in 2010

  

  China's industrial output is expected to post an annual 11% increase in 2009 and in 2010 buoyed by the government's stimulus packages, Minister of Industry and Information Technology (MIIT) Li Yizhong said Monday. He added that industrial performance would ensure GDP growth of 8% as planned for this year and the next.

• Tuesday, December 22nd 2009 - 14:21 UTC

  Hollywood celebrates: China looses appeal of WTO ruling on US films and books

  

  The World Trade Organization has upheld a ruling that China is illegally restricting US imports of music, films and books. The decision, issued Monday in Geneva, could force China to liberalize imports of media in the next year or face sanctions.