UN calls meeting on food price concerns
BY | PHOTO BBC News
PUBLISHED 22:12, September 4, 2010
The United Nations’ food agency has called a special meeting of policy makers to discuss the recent rise in global food prices.
The announcement came after Russian Prime Minister Vladimir Putin extended the country’s ban on grain exports on Thursday. This added to fears that prices of food staples would continue to rise. The meeting will take place on 24 September, probably in Rome, the UN Food and Agriculture Organization said. “In the past few weeks, global cereal markets experienced a sudden surge in international wheat prices on concerns over wheat shortages,” the agency said. “The purpose of holding... [Full article]
Europe takes a big step to avert economic crises
BY IHT
PUBLISHED 21:57, September 4, 2010
With the creation of a clutch of new financial watchdog agencies, the European Union this week took its biggest step yet to prevent a recurrence of the economic crises that have thrown the future of the euro into question.
But the overhaul will not eliminate bickering among countries over how to run their economies, and it could take time for some of the more far-reaching powers — like the imposition of temporary bans on harmful financial products — to gain acceptance. The new agencies also could influence policy in a... [Full article]
China’s trade surplus climbs to $28.7 billion
BY IHT
PUBLISHED 22:02, August 10, 2010
China’s trade surplus surged last month to its highest level in a year and a half, while real estate prices leveled off, according to government data released Tuesday that pointed to possible trade frictions with the United States and slightly slower economic growth in China.
Stock markets across Asia weakened in response to the latest economic statistics, which included an unexpected slump in China’s imports that seemed to suggest a softening of demand. The Shanghai share market fell nearly 3 percent, and the Hang Seng Index in Hong Kong tumbled... [Full article]
EU considers levying taxes directly
BY BBC News
PUBLISHED 22:07, August 10, 2010
The European Commission wants EU member states to consider allowing it to levy direct taxes – a move that could ease the burden on national budgets.
The EU’s Budget Commissioner, Janusz Lewandowski, said he would present some options next month for direct EU taxes. Taxes on aviation, financial transactions and CO2 emission permits are all possibilities, he told the daily Financial Times Deutschland. However, the UK promptly rejected the idea. Historically, national governments levy taxes in the EU. “I’m hearing from a number of capitals, including important ones like Berlin, that they would like to lower their contributions [to the EU],” Mr Lewandowski said. The 27 EU member states pay a fixed contribution to the EU budget, based on their... [Full article]
Advertisement
The world’s banks take a holiday from regulation
BY Financial Times
PUBLISHED 14:52, August 1, 2010
August starts this weekend, the month three years ago when the first rumblings of worry over Northern Rock emerged, followed weeks later by a full-blown liquidity crisis. A year after that, Wall Street went into spasm, with the largest banks having to be supported by the US government.
So this... [Full article]
Skype files for $100m US flotation
BY BBC News
PUBLISHED 22:09, August 10, 2010
Internet phone firm Skype has filed for an initial public offering in the US.
The Luxembourg-based company hopes to raise up to $100m (£63m) in the stock market flotation. Skype will sell American Depositary Shares – which represent shares in foreign companies – and expects to trade on the Nasdaq... [Full article]
UAE ‘moves to suspend some Blackberry services’
BY BBC News
PUBLISHED 14:56, August 1, 2010
The United Arab Emirates is to suspend some Blackberry mobile services from October, the state news agency reports.
The move comes amid UAE concerns that data from the devices is immediately exported offshore and managed by a foreign organisation. The UAE’s telecoms regulator, TRA, said last week the devices... [Full article]