International News

• EU and South Korea in trade deal

  10/16/2009
  
  The European Union and South Korea have signed a trade deal that could be worth up to 19bn euros ($28bn; £17bn) to European exporters.
  
  The deal would remove most of the trade tariffs between the two partners.
  
  It would "create opportunities for European companies in services, manufacturing and agriculture," said EU Trade Commissioner Catherine Ashton..

• UK rivers failing new EU standard

  9/22/2009
  
  By Judith Burns
  
  Three-quarters of rivers in England and Wales fall below a new European environmental standard, according to a report from the Environment Agency.
  
  But the report also says that water quality has improved for the 19th year in a row, and that wildlife is returning to a number of rivers.
  
  Environmental groups want tougher action as only fiv..

• China takes $850m commodity stake

  9/22/2009
  
  China's sovereign wealth fund has bought a stake in a Hong Kong-based commodities trading firm.
  
  China Investment Corp, the country's $200bn (£123bn) fund, took a 15% stake in Noble Group in return for $850m.
  
  The deal comes after China recently signed a pact with another commodity trader, Glencore, in an attempt to increase its influence in the sector.
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• Thai economy emerges from recession

  8/23/2009
  
  ---- By Tim Johnston in Bangkok
  
  Thailand's economy has broken out of recession, growing 2.3 per cent quarter-on-quarter in the second quarter, but the government warned on Monday that nearly all the growth was driven by increased state expenditure.
  
  Thailand, which depends on exports for some 65 per cent of its gross domestic product, became the latest export-depend..

• China reduces holdings in US debt

  8/19/2009
  
  China reduced its holdings of US government debt by the largest margin in nearly nine years in June, according to data from the US Treasury.
  
  China holds more US government debt than any other country and cut its holdings of US securities by more that 3% in June, said the BBC's Chris Hogg.
  
  Japan and the UK - second and third largest holders of US debt - increased th..

• China car sales continue to soar

  7/10/2009
  
  Car sales in China rose 48% in June from a year ago, boosted by government incentives and the continuing resilience of the country's economy.
  
  Sales hit 872,900 vehicles last month, the biggest increase since February 2006, said the China Association of Automobile Manufacturers.
  
  Chinese car sales are continuing to benefit from cuts in sales tax, and subsidies to tra..

• IMF says world is pulling out of recession

  7/9/2009
  
  The world economy is starting to pull out of recession, the International Monetary Fund said on Wednesday, marking up its growth forecasts for next year and hinting that it might reduce its estimates for bank losses.
  
  "The recovery is coming," said Olivier Blanchard, IMF chief economist. But he cautioned “it is likely to be a weak recovery” and said policy-..

• China steel association opposes Rio-BHP iron ore JV

  6/16/2009
  
  "The joint venture agreement has a strong monopolistic color and Chinese steel mills will resolutely oppose the agreement," the CISA said in a statement on its website.
  
  "The iron ore trade is gradually advancing in the direction of monopoly," the association said. The joint venture has a direct bearing on the interests of Chinese steel plants as China is the..

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