International

• Thursday, March 19th 2009 - 16:22 UTC

  Saudis warn of “catastrophic” oil supply crunch in near future

  

  Saudi Arabia's oil minister Ali al-Naimi warned Wednesday of a possible “catastrophic” energy supply crunch without prompt investment. The minister said the ideal price for oil lies between 60 and 75 US dollars a barrel.

• Thursday, March 19th 2009 - 06:19 UTC

  UK jobless 2.03 million, worst since Labour took power in 1997

  

  British Prime Minister Gordon Brown has expressed “personal regret” for every person who loses their job - as unemployment surged above the two million mark for the first time in 12 years.

• Thursday, March 19th 2009 - 06:08 UTC

  Condoms essential to fight AIDS epidemics says UN

  

  With over 7,400 new HIV infections daily, comprehensive approaches – including condom use – are essential to stop the spread of the AIDS epidemic, the Joint United Nations Programme on HIV/AIDS (UNAIDS) said Wednesday, warning that there is no “single magic bullet” for prevention.

• Wednesday, March 18th 2009 - 15:39 UTC

  Cruise industry expects 2009 to be weakest in five years

  

  Growth in the cruise travel industry in 2009 is forecast to be the weakest in five years as the recession holds down household spending and widespread job loss hurts operations of the major cruise lines. However the industry’s leaders remain upbeat.

• Wednesday, March 18th 2009 - 08:18 UTC

  Bank of England calls for urgent G-20 “joint commitment” on stimulus plans

  

  Bank of England Governor Mervyn King has issued a rallying cry for joined-up international efforts to pull the global economy out of a “sudden, severe and simultaneous” downturn.

• Wednesday, March 18th 2009 - 08:13 UTC

  Chile supports India as permanent member of UN Security Council

  

  India and Chile reaffirmed their support for a comprehensive reform of the United Nations including expansion of the Security Council to make the world body more representative, legitimate and effective.

• Wednesday, March 18th 2009 - 08:03 UTC

  Nobel Prize Krugman says US and EU stimulus packages insufficient

  

  The US economist and Nobel Laureate Paul Krugman said Tuesday that Europe and the United States should at least double their fiscal efforts in order to salvage the global economy.

• Wednesday, March 18th 2009 - 07:43 UTC

  IMF forecasts 0.6% global contraction this year

  

  The International Monetary Fund expects the global economy to contract 0.6% this year, according to forecasts provided on Tuesday by an IMF official in Lisbon.

• Tuesday, March 17th 2009 - 13:45 UTC

  UK Overseas Territory could loose self-government because of corruption

  

  Self-government in the Turks and Caicos Islands, a UK dependency, is set to be suspended after ministers were accused of incompetence and likely corruption, reports BBC.

• Tuesday, March 17th 2009 - 10:06 UTC

  UN calls for higher priority for water on development agenda

  

  Water must be given higher priority on the development agenda, a top United Nations official told a global gathering that opened today in Istanbul, stressing that the problems the world faces with regard to this precious resource are enormous.