United Kingdom is forecasted to fall into recession by the end of the year alongside Spain and Germany after a sharper than expected slowdown, the European Commission has predicted.
A senior United Nations food agency official on Thursday predicted a bumper harvest of cereal crops in Russia and Ukraine for this year and said the region possesses significant untapped agricultural potential.
OPEC has told its members to strictly limit their production to agreed quotas as Brent crude dipped below 100 US dollars a barrel for the first time since April. After talks in Vienna, OPEC president Chakib Khelil said the measures to curb over-production amounted to a cut of 520,000 barrels a day within 40 days.
Prices have sunk from a record of more than 147 US dollars a barrel seen in July.
China's trade surplus hit a monthly record of 28.7 billion US dollars in August, despite weaker world demand. Other official data showed consumer inflation in the month decreased considerably to a 14 month low of 4.9%.
Norway is banning its sovereign wealth fund from investing in Anglo-Australian mining firm Rio Tinto because of environmental concerns. The country's Finance minister Kirsten Halvorsen said the 875 million US dollars stake held by the country's oil fund would be sold.
The global food crisis caused by soaring prices is jeopardizing the right to food, and any potential solution to the problem must be viewed through the lens of human rights, an independent United Nations expert said Wednesday.
The Organization of Petroleum Exporting Countries conference in Vienna opened on Tuesday with a strong call to address the free for all speculation in the energy sector and the vindication that throughout this turbulent period, supply and demand fundamentals have been sound.
China will set up a new observatory station in Antarctica at the region's highest peak within two years an official from the Polar Research Institute of China announced in Beijing reports the country's news agency Xinhua.
British lawmakers plan to demand new limits on immigration to help slow the population growth in the United Kingdom.
Global shares rallied on Monday after the US government said it was taking over troubled mortgage lenders Freddie Mac and Fannie Mae. Investors hoped the largest bail-out in US history would prop up the country's housing market and ultimately help to end the credit crunch, analysts said