International

Saturday, October 4th 2008 - 21:00 UTC
Europe agrees on “flexible” targets but no US bail-out plan

Europe's biggest economies agreed on Saturday to work together to support financial institutions, but without forming a joint bail-out fund. French President Nicolas Sarkozy hosted the meeting of the leaders of Britain, Germany and Italy in Paris.
Saturday, October 4th 2008 - 21:00 UTC
Australia clears way for Billiton takeover of Rio Tinto

BHP Billiton proposed 114 billion US dollars hostile bid for rival mining giant Rio Tinto has been cleared by Australia's competition watchdog.
Friday, October 3rd 2008 - 21:00 UTC
Sarkozy denies bail out plan, but EU can't agree on B plan

French President Nicolas Sarkozy distanced himself from a proposed 300 billion Euro European Union-wide bank rescue scheme that has divided EU governments on the eve of a meeting to be held in Paris.
Friday, October 3rd 2008 - 21:00 UTC
UN listing of British Overseas territories is an “anachronism”

The British Government has said that it agrees with the Foreign Affairs Committee's (FAC) statement that Gibraltar's presence on the UN list of Non-Self Governing Territories is an anachronism.
Friday, October 3rd 2008 - 21:00 UTC
World oil demand at its lowest in 5 years; outlook bearish

The outlook for oil demand is weakening, shifting the sentiment of oil markets from bullish to bearish according to a report from the Saudi Arabia's Arab News daily.
Friday, October 3rd 2008 - 21:00 UTC
UK “heavyweight” cabinet to address the financial turmoil

British Prime Minister Gordon Brown has reshuffled his cabinet with more “experienced” heavy weights from New Labor beginning with Peter Mandelson, the EU Trade Commissioner and twice minister with Tony Blair.
Thursday, October 2nd 2008 - 21:00 UTC
Euro interest rate on hold but hints of cut next time

The European Central Bank left interest rates unchanged at 4.25%, resisting pressure for a rate cut. However ECB president Jean Claude Trichet said that a quarter point interest rate cut had been considered, but there had been a unanimous vote against it.
Thursday, October 2nd 2008 - 21:00 UTC
UN power “usurped” by Security Council says Assembly pres.

Calling for the democratization of the United Nations, General Assembly President Miguel D'Escoto stressed this week the need to restore power “usurped” by the Security Council to other organs of the world body.
Wednesday, October 1st 2008 - 21:00 UTC
Milk scandal: Chinese dairy industry on the verge of collapse

Chinese police have arrested 22 people suspected of producing melamine - the chemical found in milk products which have made thousands of babies ill. The arrests took place on 17 September, but were only reported widely on Monday evening.
Wednesday, October 1st 2008 - 21:00 UTC
Ireland implements stand-by rescue plan of 400 billion Euro

Ireland's Prime Minister Brian Cowen defended a radical 400 billion Euro state move to shore up its financial system and in the continent France, Belgium and Luxembourg bailed out a second bank .