Global stock markets face an uncertain week after a slump in China and fears of an economic slowdown in United States saw the biggest sell-off in more than four years.
The global stock market slump has entered its second week with stocks plunging in Wall Street, Asia, Europe and Latinamerica. Although the key US Dow Jones index remained positive for most of Monday, towards the end of the session it closed down 63.7 points, or 0.5%, at 12,050.4.
President Bush, facing criticism he has ignored Latin America, said Monday the region's grinding poverty is a scandal that has caused some to question the value of democracy.
The Food and Agriculture Organisation (FAO) on Monday voiced serious concern over a number of species of fish caught on the high seas and called for better monitoring and management of the stocks.
Ethanol will devour 50% more corn this year, eating into the food industry's share of the crop, anticipated the United States Agriculture Department. From breakfast cereal to beef to beer, competition from ethanol could raise prices for all kinds of foods.
British Airways and Virgin Atlantic have criticised a new open skies deal between the European Union and US that aims to open up their airline markets.
Toning down his earlier warning over a recession in the United States later this year, former U.S. Federal Reserve Chairman Alan Greenspan told a Tokyo seminar Thursday that he does not think economic slowdown in the US is probable.
Mining companies may be required to pay a windfall tax in South Africa if the recommendations of finance minister Trevor Manuel's task team are implemented, South African daily Business Day reported this week.
Chinese stock markets rebounded Wednesday following their deepest fall in a decade but most markets in Asia and Europe kept sliding for a consecutive second day amid fears of a slowing of China and the United States economies.
United Nations Secretary-General Ban Ki-moon called Friday on the world's younger generation to take better care of Planet Earth in the face of global warming than his own.