International

Friday, October 17th 2008 - 20:00 UTC
To ensure supply and price Asian steelers buy iron ore mines

A consortium of five Japanese steelmakers and a South Korean trading firm will invest 3.1 billion US dollars to acquire 40% of a Brazilian iron ore mining company Mineiros S.A. to secure supplies of iron ore, trading house Itochu Corp. announced Friday.
Friday, October 17th 2008 - 20:00 UTC
Melting Arctic sees first vessel through Northwest Passage

The German Institute Alfred Wegener said on Friday that a scientific expedition for the first time was able to navigate the fabled Northwest Passage linking the Atlantic and the Pacific oceans along Arctic waters bordering Russia and North America because they were free of ice
Thursday, October 16th 2008 - 20:00 UTC
Speaking for EU Sarkozy calls for “new Bretton Woods summit”

All 27 European Union states broadly support the bank rescue plan proposed for the bloc and the holding of a world finance summit, France's president has said.
Thursday, October 16th 2008 - 20:00 UTC
Chinese government recalls all dairy products over a month old

The Chinese Government ordered this week the recall of all dairy products more than a month old in its latest move to contain the contaminated milk scandal that has triggered domestic and world-wide concern.
Thursday, October 16th 2008 - 20:00 UTC
Stiglitz describes financial crisis as a “social problem”

Nobel laureate and renowned economist Professor Joseph Stiglitz described the current financial crisis not as a predominantly economic problem, but as a social one, citing the three million US citizens who have already lost their homes, with another two million expected to lose theirs over the next few months.
Thursday, October 16th 2008 - 20:00 UTC
Canada Conservatives retain power in spite of global crisis

The Conservative party of Primer Minister Stephen Harper on Wednesday evening declared victory in Canada's general election, but has fallen short of securing a parliamentary majority.
Thursday, October 16th 2008 - 20:00 UTC
PM Brown's blueprint to reshape financial world order

British Prime Minister Gordon Brown called on Wednesday for an international conference before the end of the year to reshape the financial world order.
Thursday, October 16th 2008 - 20:00 UTC
UK petrol below £1 per litre for the first time in 2008

British consumers hit by the credit crunch had something to smile about at last when petrol dipped below the £1 a litre mark for the first time this year. There was more cheer for travellers when two major UK airlines - British Airways and Virgin Atlantic - announced a reduction in fuel surcharges.
Thursday, October 16th 2008 - 20:00 UTC
Drug related crime, biggest threat in the Americas says UN

Drug trafficking and the violence committed by its associated organized crime is the biggest threat to public safety in the Americas, according to the Executive Director of the United Nations Office on Drugs and Crime (UNODC).
Thursday, October 16th 2008 - 20:00 UTC
OPEC emergency meeting moved forward to October 24

The Organisation of Petroleum Exporting Countries, OPEC, has brought forward an emergency meeting to discuss the effect of the global financial crisis on oil markets. The announcement was made public when oil prices plunged below 67 USD the barrel.