International

Thursday, December 11th 2008 - 20:00 UTC
German economy forecasted to contract 2.2% next year

Germany's Munich based Ifo (Institute for Economic Research) expects the German economy to contract 2.2% in 2009 and continue falling into the following year, according to a forecast published on Thursday.
Thursday, December 11th 2008 - 20:00 UTC
Global oil demand forecasted to drop, first time since 1983

Global oil demand will contract this year for the first time since 1983 shrinking by 200.000 barrels per day, with the total revised down to 85.8 million barrels per day according to the monthly report from the International Energy Agency.
Thursday, December 11th 2008 - 20:00 UTC
Tentative agreement for second EU Ireland referendum

The way could be cleared for Ireland to hold a second referendum on the European Union's Lisbon Treaty by October 2009, a draft statement by EU leaders said Thursday.

The statement grants several major concessions to Dublin in an effort to convince Irish voters of the merits of adopting the reforming treaty, which attempts to streamline decision-making within the 27-member bloc.
Thursday, December 11th 2008 - 20:00 UTC
Brazil demands leadership from Obama on trade

Brazil said on Thursday that global trade talks need a strong signal from US President-elect Barack Obama to save them from failure. Brazilian Minister Celso Amorim made the announcement after meeting with World Trade Organization Director General Pascal Lamy in Geneva.
Thursday, December 11th 2008 - 20:00 UTC
Bribes and business: Russia and China set the pace

Companies from emerging economies such as Russia and China are more likely to pay bribes when doing business in other countries, a survey claims.
Thursday, December 11th 2008 - 20:00 UTC
Rio Tinto slashing drastically jobs and capital spending

The world's third-largest mining firm Rio Tinto is eliminating 14.000 jobs and cutting investment drastically as part of plans to reduce debt by 10 billion USD by the end of next year.
Wednesday, December 10th 2008 - 20:00 UTC
Congo and rebels enter UN backed talks to end fighting

United Nations-backed talks between the Government of the Democratic Republic of the Congo (DRC) and a main rebel militia kicked off Tuesday, in a bid to end the upsurge in the fighting which has uprooted an additional 250,000 people in country's far east.
Wednesday, December 10th 2008 - 20:00 UTC
UN: Sixty years on Human Rights still not a reality for all

The promises enshrined in the Universal Declaration of Human Rights (UDHR) remain unfilled for tens of millions of people worldwide, the top United Nations human rights official said on the eve of the December 10th landmark document's 60th anniversary.
Wednesday, December 10th 2008 - 20:00 UTC
Record low for UK £ vs the Euro as recession advances

The British pound has hit a record low against the Euro amid more economic gloom for the United Kingdom. At its low point one pound bought just under Euros 1.14, its weakest-ever showing against the single currency.
Wednesday, December 10th 2008 - 20:00 UTC
Chinese exports drop 2.2% in November and imports 19.1%

China has reported a fall in exports for the first time in seven years as a result of the global economic downturn. Exports declined in November from the same period a year ago for the first time since June 2001, data show.