International

• Friday, May 9th 2008 - 21:00 UTC

  Euro zone and Bank of England leave rates unchanged

  

  The European Central Bank kept on Thursday interest rates for the 15-nation Euro bloc steady at 4% amid increasing signs that economic growth is winding down. ECB signaled that it was not in a rush to cut rates, as it forecast inflation would stay “high for a protracted period of time”.

• Friday, May 9th 2008 - 21:00 UTC

  IMF warns inflation risks have become a global challenge

  

  Prospects for continued relatively strong growth in emerging and developing economies suggests that demand growth for energy and commodities will remain solid, even as global growth is slowing, according to the International Monetary Fund, IMF, First Deputy Managing Director John Lipsky.

• Thursday, May 8th 2008 - 21:00 UTC

  Top UN economist blasts EU for promoting bio-fuels

  

  European efforts to promote bio-fuels should be rethought because of the contribution they have made to rising food prices, according to Jeffrey Sachs, a top economic advisor to the United Nations.

• Thursday, May 8th 2008 - 21:00 UTC

  Probes into France's Alstom for alleged bribing in S. America

  The French engineering giant Alstom, famous for its high speed trains and power stations is under investigation by Swiss and French officials for alleged briberies to gain contracts in Asia and South America between 1995 and 2003.

• Wednesday, May 7th 2008 - 21:00 UTC

  WTO has no short term solution to soaring food prices

  The World Trade Organisation cannot deliver a short-term solution to soaring food prices but a successful end to global trade talks would help in the longer term, WTO chief said on Wednesday.

• Wednesday, May 7th 2008 - 21:00 UTC

  Forecaster of oil at 100 dollars, now announces U$D 200

  

  The price of crude oil could soar to 200 US dollars a barrel in as little as six months, as supply continues to struggle to meet demand, warned a report from Goldman Sachs energy strategist Argun Murti as benchmark US light crude passed the 123 dollars mark for the first time

• Tuesday, May 6th 2008 - 21:00 UTC

  World central bankers warn of rising food prices and inflation

  

  European Central Bank President Jean- Claude Trichet, who chaired a meeting of central bankers of the world's leading nations warned on Monday about rising food prices and significant inflationary risks.

• Tuesday, May 6th 2008 - 21:00 UTC

  Oil reaches new highs on supply fears and dollar weakness

  

  The price of a barrel of oil reached Monday above 120 US dollars for the first time, driven by concerns about the situations in Nigeria and northern Iraq. US light sweet crude rose to a record of 120.36 a barrel in morning trading in New York before falling back to a record close of 119.97, up 3.65 over Friday.

• Monday, May 5th 2008 - 21:00 UTC

  London's luxury rentals get an unexpected boost

  

  London's luxury rental market, already strong and becoming stronger, is getting a further boost from an unexpected source: the U.S. credit crunch.

• Monday, May 5th 2008 - 21:00 UTC

  “A massive violation of the right to adequate food”

  

  The Human Rights Council should convene to discuss the current global food crisis because it is important to view the problem of soaring prices as “a massive violation of the right to adequate food,” a United Nations expert on the subject said this week.