International

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 .
Wednesday, October 1st 2008 - 21:00 UTC
Ireland bail out plan rattles European banking system

The European Commission said on Tuesday it is “in close contact” with the Irish government over its decision to guarantee all bank deposits. Concerns have been raised that Dublin's move may give Irish banks an unfair advantage over foreign competitors.
Wednesday, October 1st 2008 - 21:00 UTC
Europe fines nine oil companies for the “paraffin mafia”

The European Commission fined on Wednesday nine petrochemical companies a total of 676 million Euros for forming a “paraffin mafia” to fix prices and carve up markets for wax.
Wednesday, October 1st 2008 - 21:00 UTC
Largest fall in remittances from Mexicans in US

Remittances from Mexicans living in United States dropped 12% in August, the largest fall since the Bank of Mexico began tracking records twelve years ago, the country's Central bank reported on Wednesday
Tuesday, September 30th 2008 - 21:00 UTC
Melamine milk scandal hits Cadbury Chinese products

British confectionary maker Cadbury said Monday it is recalling 11 types of Chinese-made chocolates found to contain melamine, as police in northern China raided a network accused of adding the banned chemical to milk.
Tuesday, September 30th 2008 - 21:00 UTC
Asian markets follow Europe, US and Latam in free fall

Japan's benchmark Nikkei stock index has fallen almost 5% in early Tuesday trading, hours after a US financial rescue plan failed to gain Congressional backing.

The US House of Representatives on Monday rejected a 700 billion plan aimed at bailing out Wall Street.
Tuesday, September 30th 2008 - 21:00 UTC
UK seafood corps target Brazil, net fish importer

The representatives of a group of Humber seafood firms met with their counterpart from one of the globe's largest retailers, France's Carrefour, in a joint bid to establish trade ties with Brazil.