Frankfurt - Faced with spiralling inflation, the European Central Bank (ECB) is set to deliver Thursday its first rate hike in more than year, most analysts agree. 

Berlin - The German cabinet was meeting Wednesday to discuss the 2009 budget after weeks of wrangling between Finance Minister Peer Steinbrueck and the spending ministries. 

Hong Kong - Hong Kong's flagship airline Cathay Pacific Wednesday issued a profit warning to investors, saying its 2008 results would be "disappointing" because of rising fuel prices. 

Sofia - A wave of price hikes likely to further fuel already rampant inflation hit Bulgaria from the start of July on Tuesday, shocking the poorest European Union nation.

Bangkok- Thailand's year-on-year inflation jumped 8.9 per cent in June, ramped up by rising fuel and food prices, the Commerce Ministry said Tuesday.

London, June 27 : Prostitutes in America are offering free petrol to truck drive