Saturday 23 May 2015

Bank of England confirms EU exit research

The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project. The Guardian reported that an aide to a se


Shi'ite militias launch counter-offensive against IS

Shi'ite Muslim militiamen and Iraqi army forces launched a counter-offensive against Islamic State insurgents near Ramadi on Saturday, a militia spokesman said, aiming to reverse potentially devastating gains by the jihadi militants. The fall of Ramadi, the Anbar provincial c


India planning new rules for oil subsidies

India plans to reform rules governing the level of discounts upstream state oil firms including Oil and Natural Gas Corporation (ONGC) offer to retailers, a senior finance ministry official said yesterday, a move that could expedite the sale of a stake in the company. The governm


S Sudan ‘in control of oil-producing Upper Nile state’

South Sudan's government said on Friday it had wrested control of oil-producing Upper Nile State, the scene of heavy fighting in recent days, from rebel fighters. South Sudanese rebels said on Tuesday they had captured a refinery near a major oilfield in Upper Nile State, whe


Magnitude 6.8 quake strikes off Solomon Islands

A magnitude 6.8 earthquake struck close to the Solomon Islands in the South Pacific Ocean, just days after the archipelago was hit by another strong earthquake, the US Geological Survey said on Friday. The quake, initially reported as a magnitude 6.9, struck at 8:45 a.m. on Satur


US bird flu causes emergency measures

As a virulent avian influenza outbreak continues to spread across the Midwestern United States, some egg-dependent companies are contemplating drastic steps - importing eggs from overseas or looking to egg alternatives. A spokeswoman for Archer Daniels Midland Co said that as egg


Oil down 2pc as dollar rallies

Oil fell about 2 per cent on Friday as a rallying dollar and profit-taking ahead of a long US holiday weekend cut short a two-day run-up in crude prices. Heating oil, a proxy play for diesel, also fell almost lost 2 per cent while gasoline lost more than 1 percent on concerns of


Gold up on softer dollar, but set for biggest weekly drop

Gold rose on Friday as the dollar's rally stalled ahead of US inflation data, but it was still on course for its biggest weekly decline in four weeks. Spot gold rose 0.5 per cent to $1,211.98 an ounce by 1001 GMT. It was down 0.8 per cent for the week, however, heading for it


Syria's Palmyra falls to Islamic State

Islamic State seized full control of the historic city of Palmyra in central Syria on Thursday, just days after it captured a provincial capital in neighbouring Iraq, suggesting momentum is building for the ultra-hardline group. The twin successes pile pressure not just on Damasc


Migration to UK hits highest level since 2005

Net migration to Britain reached 318,000 in 2014, its highest level since 2005, official data showed on Thursday, a political setback for Prime Minister David Cameron who has pledged to reduce the figure to less than 100,000 annually. The data comes hours before Cameron unveils n

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