Gordon Brown is finally to be crowned Labour leader - taking over from Tony Blair after a 13-year wait.
Leaders of the European Union say they have reached an agreement on crafting a new EU treaty.
Drifting icebergs are "ecological hotspots" that enable the surrounding waters to absorb an increased volume of carbon dioxide, a study suggests. United States scientists found that minerals released from the melting ice triggered blooms of CO2-absorbing phytoplankton, reports BBC.
Negotiations among four key World Trade Organisation (WTO) governments over a new global agreement collapsed Thursday with India and Brazil blaming US and European unwillingness to cut farm aid and import duties on commodities.
China should let the Yuan appreciate at a faster rate to reduce the country's dependency on exports and thus prevent a possible assets bubble because of the easy access to credit, said an outstanding economist former advisor to the country's Central Bank.
Climate change worries coupled with high oil prices and increasing government support are fuelling soaring rates of investment in the renewable energy and energy efficiency industries, a new report by the United Nations Environment Programme (UNEP) released this week.
The International Monetary Fund Managing Director Rodrigo Rato warned about the risks for Latinamerica of populist economic measures which worsen fiscal deficits, or price controls and manipulation of exchange rates.
Cunard liner QE2 is to cease ocean cruises and become a luxury floating hotel. The 70,000-ton vessel, launched by the Queen Elizabeth in 1967 and which carried millions across the Atlantic, is to be sold to the Dubai World company in an estimated 100 million US dollars deal.
Moscow is the world's most expensive city for expatriates for the second consecutive year, according to the latest Cost of Living Survey from Mercer Human Resource Consulting. Asuncion, Paraguay is the least expensive city for the fifth year running.
The Organization of Petroleum Exporting Countries, OPEC continues to monitor global oil markets and is prepared to help mitigate any tightness but the level of 30 million barrels a day ensures that commercial oil stocks remain at comfortable levels for the time being, said OPEC's Secretary General in Vienna.