Turning a profit from carbon emissions

World EconomySwitzerland - With the issues of climate change and the global economic crisis coming to a head simultaneously, world leaders have focused on tying the two together, and businessmen Saturday were trying to find ways to make money from a green economy.

Europe's carbon credit trading program, in its second phase, is seen as being on the path to putting a price on pollution and creating a market that would allow for profit making.

World leaders say green thinking can help global economy

World leaders say green thinking can help global economy Davos, Switzerland  - With the economic crisis likely to dominate much of 2009, world leaders in Davos Friday urged climate change issues to remain in focus.

Prime Minister Gordon Brown, German Chancellor Angela Merkel, the UN's Secretary General Ban Ki-moon and others attending the World Economic Forum warned against letting the economic worries overshadow the need to solve the climate issues as the two were interconnected.

Calderon, Uribe vow active line on economy, tough on crime

Calderon, Uribe vow active line on economy, tough on crime Davos, Switzerland  - Pushing for active countercyclical economic policies to work the world economy out of the current downturn, Mexican President Felipe Calderon also said he would continue his tough stance on organized crime.

He said Mexico was, for the first time in the country's volatile history of financial crisis, in good shape to engage in public spending, as it had a sound banking system and was well capitalized.

Afghans, Pakistanis need to be involved in their future

Afghans, Pakistanis need to be involved in their futureDavos, Switzerland  - The fight against terrorism could only succeed in Afghanistan and Pakistan, officials gathered at Davos have said, if there was strong international military cooperation and if ordinary people's lives were improved.

The two neighbouring countries would have to implement a strategy which relied as much on development projects as it would on military action against extremists groups employing terrorism, otherwise the people would not be on board.

Indian economy will grow at 7 to 7.5 percent next fiscal : Kamal Nath

Kamal NathDavos (Switzerland), Jan. 30 : The Union Commerce and Industry Minister Kamal Nath said here that the Indian economy would continue to grow at a steady pace of 7 to 7.5 percent.

Addressing a press conference at the World Economic Forum here on Friday, Nath said the Indian economy grew by 7.8 per cent in the first half of this fiscal and is expected to maintain the same growth rate, more or less, in the next financial year.

Brown, Ban call for international efforts to boost economy

Ban Ki-MoonDavos, Switzerland - Coordinated international efforts will be needed to lead the world out of the current economic crisis, the United Nation's Ban Ki-Moon and British premier Gordon Brown said Friday, urging countries to also maintain aid levels to the poor.

Brown said countries needed to "come together as one" and take steps like those he introduced in Britain, including capital injections and the introduction of stimulus packages.

Turkey: Syria, Israel direct talks foiled by Gaza offensive

TurkeyDavos, Switzerland  - Israel and Syria were on the path to direct talks but the progress was set back by the three-week offensive in the Gaza Strip, Turkish officials said Thursday while attending the World Economic Forum.

Turkey had hosted four rounds of indirect talks between the two nations, who are still at a state of war since 1948. Damascus called off after the discussions after the Israeli offensive began.

"We had problems with only a few words," said Turkish Prime Minister Recep Tayyip Erdogan, referring to negotiations which had gone on when Israeli Prime Minister Ehud Olmert was in Ankara just days before the offensive began.

UEFA announces hosts of club competitions

UEFA announces hosts of club competitions  Nyon, Switzerland - Europe's governing body UEFA on Thursday announced the hosts of the 2011 and 2012 European club competition finals.

UEFA said that the organization's executive committee had awarded the final of the 2011 Champions League to Wembley Stadium in London, while the Fussball Arena in Munich will host the Champions League a year later.

Oil prices need to rise to allow for investment, energy chiefs say

Oil prices need to rise to allow for investment, energy chiefs say Davos, Switzerland - The drop in the price of oil is a result of the global economic downturn, energy chiefs said Thursday, but the fall has been too great and the current amount will not leave producing countries with enough capital for investment.

"The price is low because demand has fallen, because economic growth in most part of the world has stopped," said Tony Hayward, the head of BP.

Leaders reflect on ethical capitalism with economic news gloomy

World EconomyDavos, Switzerland - With the headlines screaming the gloom that economic growth this year will be the worst since World War II, several leading politicians and business people discussed the future of capitalism Thursday, with the word "values" taking center stage.

"Capitalism cannot work unless it is based on shared values, and justice," said former British premier Tony Blair at the World Economic Forum annual meeting in Davos.

Blair, who said the "financial system has failed" insisted the free enterprise system was still vital, but pushed for "globalization based on values."

Swiss police order Tibetan flag removed from Davos shop

Dalai Lama named freeman of ParisDavos, Switzerland - Swiss police forced a Davos shop owner to remove a flag of Tibet from the window of her store, but she managed to keep writings of the Dalai Lama and Tibetan prayer books in the window, the shopkeeper told Swiss radio DRS Thursday.

UN chief Ban calls for urgent aid to Gaza

Ban demands Israel, Hamas stop fighting, heed UN resolution Davos, Switzerland - United Nations Secretary General Ban Ki-moon called on the international community Thursday to provide quick assistance for the people in conflict-torn Gaza Strip.

At the World Economic Forum in Davos, Ban issued a so-called flash appeal for urgently needed assistance worth 613 million dollars in order to help the 1.4 million Gaza residents.

Zimbabwe cholera outbreak races ahead; more than 3,000 dead

ZimbabweGeneva - Nearly two months after Zimbabwean President Robert Mugabe declared that the cholera outbreak in his country had been "arrested" the number of dead continues to climb, passing 3,000 this week, the United Nations Office for Coordination of Humanitarian Affairs (OCHA) said.

As of Tuesday, 3,028 people had died and 57,702 become infected with the waterborne diarrhoeal disease.

That's 273 more dead and 9,079 more cases of infection than the last OCHA update six days ago.

UN agency: Tens of millions to lose jobs in 2009

unemploymentBangkok/Geneva - Global unemployment would increase by 18 million to 51 million people this year from 2007 figures, depending on the extent and length of the economic crisis, the International Labour Organization predicted Wednesday.

"We are now facing a global jobs crisis," the UN organization's director general Juan Somavia said in Geneva. "Progress in poverty reduction is unravelling, and middle classes worldwide are weakening. The political and security implications are daunting."

The organization has painted three scenarios for global unemployment in 2009, ranging from bad to worst.

Russia's Putin to open Davos conference

Vladimir PutinGeneva - Russian Prime Minister Vladimir Putin has been slated to open the 39th Davos World Economic Forum this Wednesday as world politicians are expected to take centre stage in dealing with the ongoing financial and economic crisis.

Forty heads of state and government are expected to attend the annual event in the Swiss ski resort, more than double the number that attended last year.

Four European tourists kidnapped in Mali

Four European tourists kidnapped in MaliNairobi/Bamako  - Four European tourists have been kidnapped near the border of Niger and Mali as they returned from a festival on nomad culture, reports said Friday.

Mali officials say that one German, two Swiss and one Briton were taken by unknown gunmen, the BBC reported.

The German foreign office confirmed that a German national had been missing since Thursday at noon, while the Swiss foreign ministry confirmed that two of its nationals had been taken.

The tourists were travelling in a three-car convoy. The first car escaped, but the other two were seized, the BBC said.

CAS dismisses Rasmussen appeal against two-year doping ban

CAS dismisses Rasmussen appeal against two-year doping ban Lausanne, Switzerland  - The Court of Arbitration for Sport (CAS) Thursday dismissed cyclist Michael Rasmussen's appeal against the two-year ban he received for doping from the Monegasque Cycling Federation (FMC) last June.

"Consequently, Michael Rasmussen is suspended for a period of two years, starting on 26 July 2007," said CAS in a statement.

Rasmussen was kicked out of the 2007 Tour while leading after lying about his whereabouts in connection with doping tests. He told the International Cycling Federation

Number of cholera dead in Zimbabwe shoots past 2,700

ZimbabweGeneva - The spread of cholera continues unabated in Zimbabwe, where the death toll has risen to 2,755 since August, the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) said Thursday.

The UN update issued in Geneva, which reflects the situation as of January 21, showed a total 48,623 people in the beleaguered southern African country, were infected with the waterborne disease.

On Wednesday alone, 36 deaths and 1,125 new infection cases were recorded, OCHA said.

Hansen goes to CAS to get bronze medal back

Hansen goes to CAS to get bronze medal back Lausanne, Switzerland  - Norwegian horse rider Tony Andre Hansen has appealed to the Court of Arbitration for Sport (CAS) in an attempt to get back the bronze Olympic medal that he lost last month.

The sport's ruling body FEI disqualified him from the Olympics last month after ruling that he had been guilty of a doping violation after his horse Camiro tested positive for capsaicin on the day of the team jumping final of the Olympic Games.

Red Cross begins distribution of aid in Gaza

ICRC LogoGeneva - The International Committee of the Red Cross (ICRC) began Monday the distribution of aid material to around 8,000 families in the Gaza Strip following the cessation of military activity there, a spokeswoman said in Geneva.

The Red Cross is now providing cooking utensils, tarpaulins, hygiene articles and blankets for families that lost their homes in the three-week Israeli military offensive, said spokeswoman Dorothea Krimitsas.

Access to the families in the worst-affected parts of Gaza was proving difficult, with many houses completely destroyed or heavily damaged. Unexploded ordnance was also proving a particular hazard.

Syndicate content