In the 21st century where communications are instantaneous, 90 per cent of world trade still reaches its destination via the commercial shipping industry, which has been shaped over the last six decades by the practices and standards set by the United Nations International Maritime Organization (IMO).
Shares in Asia opened on Tuesday lower amid uncertainty about the impact of the massive US financial bail-out plan. The falls followed a sharp slide in the US, where the Bush administration has been discussing the 700 billion rescue plan with Congress.
Noble Corporation confirmed its subsidiary, Noble Drilling Holding LLC, has signed contracts for the construction of a new, dynamically positioned, ultra-deepwater, harsh environment Globetrotter class drill-ship with South Korea's STX Heavy Industries and Dutch-based design and construction firm Huisman Equipment.
Prime Minister Gordon Brown has staked his claim to be the only man to steer Britain through tough economic times saying: This is no time for a novice.
The United Nations Children's Fund (UNICEF) applauded this week the decision by the British Government to grant children seeking asylum, migrant children and those trafficked into the country the same rights as British children, including their right to education, health care and social services.
Japanese banking giant Mitsubishi UFJ Financial Group announced Monday it will buy a stake in troubled Wall Street investment bank Morgan Stanley. The firm said the stake will account for 10% to 20% of Morgan Stanley's common shares.
Gordon Brown has admitted he had made mistakes as Britain's Prime Minister and promised: I will do better. In an interview ahead of the crucial conference speech on which his future as Prime Minister may depend, Mr Brown insisted he remained the right man to shepherd Britain's economy through global financial turmoil.
German chancellor Angela Merkel said that the United States and British governments are partly responsible for the current international financial crisis for having supported markets' resistance to be submitted to voluntary regulations.
A United Nations-supported meeting opening Monday in Bangkok is closely looking at the impact of migration in Asia and the Pacific – where the number of international migrants has skyrocketed from 28 million to 53 million in just under half a century – on socio-economic development in the region.
Reflecting uncertainties about the US government 700 billion US dollars bail out plan and its consequences on the US dollar, oil prices on Monday jumped briefly 25 US dollars before falling back to 120.97 US dollars a barrel