International

Friday, April 11th 2008 - 21:00 UTC
Poor countries grain bill forecasted to soar 50% in 2008

With food riots reported across the globe from the Philippines to Haiti, the United Nations agricultural agency warned Friday that the cereal import bill of the world's poorest countries is forecast to rise by over 50% in the current fiscal year.
Friday, April 11th 2008 - 21:00 UTC
“Rice prices crisis” has become a global challenge, says IRRI

Rice prices are set to keep rising as demand is outstripping production according to the Philippines-based International Rice Research Institute (IRRI). In its Rice Today publication IRRI calls for more research on how to increase rice productivity and face the “rice prices crisis”.
Thursday, April 10th 2008 - 21:00 UTC
UK cuts rate 0.25%; expects inflation to fall back in mid term

The Bank of England on Thursday lowered interest rates to 5% from 5.25% in an attempt to spur the UK economy. This is the third rate cut since early December.

BoE argued that concern over the slowing down of the economy was more immediate that inflation, which should fall back to 2% in the mid term.
Thursday, April 10th 2008 - 21:00 UTC
Targeting short-term inflation ECB leaves Euro rates on hold

The European Central Bank left interest rates on hold at 4% highlighting concern about accelerating short-term inflation pressures and the acknowledgement of a protracted period of economic uncertainty stemming from the global credit crisis.
Thursday, April 10th 2008 - 21:00 UTC
Yuan up 4.3% against US dollar in 2008; 18.3% since Jul 05

The Chinese currency broke this week the psychological benchmark of seven Yuan to the US dollar which could signal a change of policy in Beijing since a stronger currency should help fight inflation and makes food and energy prices cheaper.
Thursday, April 10th 2008 - 21:00 UTC
World Bank warns about rising food prices and poverty

World Bank President Robert Zoellick called Thursday for a “New Deal” on global food policy to address hunger and emergency situations in developing countries such as Haiti because of rising food prices.
Wednesday, April 9th 2008 - 21:00 UTC
Chile and England have the highest wave energy potential

Chile is the country with the highest wave energy potential in the world, the British engineering consultant Baird & Associates reported last week. According to company officials, wave energy along Chile's coast can satisfy up to 24% of the country's energy demand in summer and 26% in winter.
Wednesday, April 9th 2008 - 21:00 UTC
IMF forecasts one in four chance of global recession

International Monetary Fund (IMF) has said that the world economy will grow much more slowly in the next two years as a result of the credit crunch. In its latest economic forecast, the IMF says that world economic growth will slow to 3.7% in 2008 and 2009, 1.25% lower than growth in 2007.
Tuesday, April 8th 2008 - 21:00 UTC
Ban Ki-moon: climate change, major threat to human health

Top United Nations officials have warned that global warming and its effects, including a rise in air and sea temperatures and extreme weather patterns endanger not only the planet but also pose a major threat to human health.
Tuesday, April 8th 2008 - 21:00 UTC
EU divided over maritime safety laws and civil liability

European Union ministers rejected Monday two Brussels maritime safety laws by a large majority. The proposed directives on flag state control and civil liability for ship owners received the support of fewer than seven of the 27 EU member states at a council of ministers meeting in Luxembourg, according to Lloyd's List portal.