International

• Friday, August 3rd 2007 - 21:00 UTC

  ECB rates unchanged at 4% but September hike is forecasted

  The European Central Bank (ECB) left Eurozone interest rates on hold at 4% for the second month in a row. The Thursday decision however also anticipated that the ECB will be hiking rates next September or October

• Friday, August 3rd 2007 - 21:00 UTC

  Bank of England “wait and see” policy leaves rate at 5.75%

  The Bank of England decided Thursday to leave the cost of borrowing at 5.75%. The Monetary Policy Committee (MPC) had been widely expected to keep rates on hold this month, as it waits to see the impact of the rises so far, but many economists predict rates will go up to 6% later this year.

• Friday, August 3rd 2007 - 21:00 UTC

  Volatile week ends with markets falling and fears of more to come

  Stock markets in United States fell heavily on Friday following a volatile week. The Dow Jones, which saw triple digit gains on Wednesday and Thursday, fell by 2.1%, 284.8 points, to 13,178.5. The Nasdaq lost 2.5% to 2,511.25 points.

• Wednesday, August 1st 2007 - 21:00 UTC

  British Airways fined a record £121 after admitting collusion

  

  British Airways has been hit with a record £121.5 million fine after it admitted to collusion over fuel surcharges on long-haul flights.

• Wednesday, August 1st 2007 - 21:00 UTC

  World fears that oil could reach new record prices

  Oil prices are nearing an all time record after supply concerns on Tuesday lifted them above 78 US dollars a barrel, almost the 78.40 reached in the aftermath of the Lebanon conflict in July 2006.

• Wednesday, August 1st 2007 - 21:00 UTC

  OPEC holds 77.2% of proven global oil reserves

  The Organization of Petroleum exporting countries, OPEC, holds 77.2% of the world's proven reserves and 49.3% of natural gas, according to the latest Annual Statistical Bulletin for 2006, an anticipation of which was released this week in Vienna but will be officially presented on September 13.

• Wednesday, August 1st 2007 - 21:00 UTC

  British Airways suspends winter Madrid/Gibraltar schedule

  

  British Airways will be suspending its daily winter flights between Madrid and Gibraltar, which were launched last May, given technical restrictions in both airports, announced local operator GB Airways. The last British Airways from Madrid to Gibraltar will take off September 30.

• Wednesday, August 1st 2007 - 21:00 UTC

  Lead case could help 2.000 Gurkhas settle in United Kingdom

  

  A Gurkha who is prepared to fight and die in battle for Britain should be allowed to stay in the UK, an immigration tribunal has been told. About 20 Gurkhas, many wearing medals and clutching their berets, sat quietly listening to legal arguments in a test case which could help decide whether 2,000 Gurkhas could settle in Britain.

• Tuesday, July 31st 2007 - 21:00 UTC

  New attempt by China to cool the economy (and trade partners)

  

  For a sixth time this year China tightened credit on Monday in a new effort to cool its roaring economy, ordering banks to shrink the pool of money for lending by increasing their reserves.

• Tuesday, July 31st 2007 - 21:00 UTC

  Air traffic on the rise: 1.800 new aircrafts in next 18 months

  

  Air traffic results for the first six months of the year expanded 6.3% in year-on-year international passenger demand, slightly higher than the 5.9% full-year rise recorded for the year 2006, according to the latest report from the International Air Transport Association, IATA