International News

• China shares slump after state restricts home loans

  4/21/2010
  
  Leading Chinese shares have slumped after the government pushed through measures designed to rein in booming house prices.
  
  The main Shanghai Composite index plunged 150 points, or 4.8%, to close at 2,980.30.
  
  The new rules included restrictions on mortgages to people looking to buy a third home.
  
  The government has already introduced restrictions on bank..

• Dubai World gets $9.5bn government backing

  3/25/2010
  
  The Dubai government has announced it will provide $9.5bn (£6.4bn) in funding to help its Dubai World investment vehicle to restructure its debt.
  
  The troubled company has presented a plan to restructure $23.5bn of debt to its creditors, including converting $8.9bn of debt into equity.
  
  Creditors will now decide on whether to accept the plan.
  
  Dubai..

• India to review economy stimulus

  3/1/2010
  
  Stimulus measures introduced to boost the Indian economy during the downturn will be reviewed, the government said as it unveiled its annual budget.
  
  Indian federal finance minister Pranab Mukherjee said the measures had helped to maintain strong growth, but inflation must now be controlled.
  
  The government also pledged to cut debt levels and review public spending.<..

• Rich nations urged to provide $10bn in climate funds

  1/24/2010
  
  Brazil, China, India and South Africa have urged wealthy nations to hand over $10bn (£6bn) pledged to poor nations in 2010 to fight climate change.
  
  The group - known as Basic - said the money must be available at once "as proof of their commitment" to address the global challenge.
  
  The plea was issued after a meeting of the four nations in Delhi.
  

• China targeting 8% growth in 2010

  12/22/2009
  
  China has announced it is targeting economic growth of 8% in 2010, despite the continuing effects of the global downturn.
  
  Beijing has targeted 8% growth for the past few years, and has yet to fall short of the target.
  
  Analysts said the country's economy was likely to beat the target, growing by 9% or more.
  
  China, the world's third-largest economy, has ..

• EU summit struggles to agree climate pledge

  12/10/2009
  
  EU leaders have so far failed to agree how much aid the bloc will give to developing nations to tackle the effects of global warming.
  
  On the first day of a two-day summit in Brussels EU leaders had wanted to agree a joint offer of around 6bn euros ($9bn; £5.5bn) over three years.
  
  But analysts say wealthier states are struggling to convince poorer Eastern Euro..

• Global warming science alarming, say climate experts

  11/24/2009
  
  Three UK groups studying climate change have issued an unprecedented statement about the dangers of failing to cut emissions of greenhouse gases
  
  The Royal Society, Met Office, and Natural Environment Research Council say the science underpinning climate change is more alarming than ever.
  
  They say the 2007 UK floods, 2003 heatwave in Europe and recent droughts were ..

• Oil rise 'could derail recovery'

  11/18/2009
  
  The International Energy Agency (IEA) has warned that the recent rise in the price of oil "risks derailing the recovery" if it continues.
  
  The IEA says that oil demand itself will also rebound much more slowly if price rises continue in 2010.
  
  The oil price has risen more than 70% this year and is trading at about $77 a barrel, after falling on Thursday.

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