International

• Thursday, April 2nd 2009 - 04:59 UTC

  G20 summit hammering out consensus for Thursday’s formal meeting

  

  France and Germany called for tougher regulation for the world's financial system during the first day of the G20 summit in London. French President Nicolas Sarkozy, who has threatened to walk out of the meeting, said that new financial regulation was a “non-negotiable goal”.

• Wednesday, April 1st 2009 - 11:03 UTC

  UK debt and deficit in excess of EU guidelines and climbing

  

  The United Kingdom government debt rose to £750.3 billion in 2008, more than half of gross domestic product (GDP), according to the Office for National Statistics (ONS).

• Wednesday, April 1st 2009 - 11:02 UTC

  Developing world GDP forecasted to expand 2.1% this year

  

  GDP growth in the developing world will slow to a projected 2.1% in 2009 from 5.8% in 2008, according to World Bank estimates released Wednesday. The Bank has more than halved its November 2008 projection of 4.4% growth in developing countries in 2009, reflecting the rapid deterioration of global financial and economic conditions.

• Wednesday, April 1st 2009 - 10:29 UTC

  Obama in London to convince G-20 he can lead the world out of recession

  

  United States President Barack Obama is in the United Kingdom for his first major foreign trip since taking office in January. In London he is to attend the G20 summit of the world’s 20 major economies representing 85% of global GDP, which is hosted by British Prime Minister Gordon Brown. The two will have breakfast talks in Downing Street on Wednesday followed by meetings with other world leaders.

• Wednesday, April 1st 2009 - 10:20 UTC

  South American and Arab leaders agree on trade and investments

  

  South American leaders underscored the importance of economic and political ties with the Arab world in a summit meeting with their Arab counterparts in Qatar. Tuesday's meeting, the second Arab-South American summit, in Doha, followed the conclusion of the Arab League conference in the city.

• Wednesday, April 1st 2009 - 09:41 UTC

  Imagine Falklands and Gibraltar naval facilities under EU control and flag

  

  Britain's naval bases around the world should be put under the control of the European Union, according to a report commissioned by the Brussels Parliament and which was leaked to the British press this week.

• Tuesday, March 31st 2009 - 10:32 UTC

  Arab League, South America summit looks for political common ground

  

  Arab League and South American countries will open Tuesday their second summit with the purpose of boosting trade and cooperation. The idea of regular meetings between the 22 members of the Arab League and 12 South American countries was born in Brasilia in 2005, sponsored by Brazilian president Lula da Silva.

• Tuesday, March 31st 2009 - 09:46 UTC

  Spain rescues regional bank; financial stocks fall

  

  Spain's decision to rescue a regional savings bank has sent financial stocks in the country lower. The Bank of Spain is to take over Caja Castilla la Mancha in the first bank bail-out in Spain since the global financial crisis began. The government will also back the bank with 9 billion Euros in guarantees.

• Tuesday, March 31st 2009 - 08:56 UTC

  Qatar says “it’s OK” with crude at 50USD per barrel

  

  Qatar's oil minister said Monday he was “OK” with crude oil at 50 US dollars per barrel for this year, reflecting a measure of pragmatism by OPEC. However OPEC president forecasted that oil prices could reach 75USD by the end of the year.

• Tuesday, March 31st 2009 - 07:14 UTC

  PM Brown sets out the “five tests” for the G 20 world leaders

  

  UK Prime Minister Gordon Brown has set out five tests which world leaders will face when they gather for the G20 summit in London on Thursday and urged them to “rise to the challenge” of beating the recession.