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    Last update: December 22, 2009

    +Caspian states back Iran's right to nuclear energy
      Caspian states agreed at a regional summit not to let a third country use their soil for an attack on any of them, an apparent response the US refusal to rule out the use of force in its nuclear dispute with Iran.

    +Bernanke sees better near-term outlook
      The improvement in the functioning of credit markets since the Federal Reserve cut interest rates has reduced the risk to the near-term economic outlook, Ben Bernanke said

    +IMF chief warns of tighter times ahead
      The risk of a disorderly adjustment of global ­economic imbalances has increased after the turmoil in credit markets, Rodrigo Rato, managing director of the International Monetary Fund, said

    +Business warns EU on Korea trade deal
      European employers say goods produced by South Korean-owned factories in the enclave of Kaesong, in the North, should not be classified as being from the South

    +US economists win Nobel prize
      Three US economists who established and developed theories governing how trade between two individuals or companies takes place and how it can be optimised have won the nobel prize for economics

    +WTO rules against US cotton subsidies
      A World Trade Organisation panel, ruling in favour of Brazil in a landmark international challenge, has found that the United States has not done enough to reform its cotton subsidies

    +Cars and food hold up S Korea-EU pact
      The European Union and South Korea are this week expected to clash over tariff reductions on cars and the liberalisation of agricultural imports when they hold bilateral trade talks

    +Targetti to sue EU over light bulb tariffs
      The company responsible for lighting the New York Stock Exchange, Notre Dame Cathedral in Paris and the Piazza San Marco in Venice is to sue the European Commission over its imposition of tariffs on "green" light bulbs from China

    +Sovereign funds warning
      Sovereign wealth funds in emerging economies should become more transparent and work to establish a code of practice, according to a report by a leading bank

    +Markets on alert for G7 shift on currency
      Currencies and the regulatory response to the credit crisis will top the agenda when world finance ministers, central bank governors and bank executives meet this week

    +Former UN diplomat sentenced
      Vladimir Kuznetsov, formerly the highest-ranking Russian diplomat at the United Nations, has been jailed by a US federal court on money-laundering charges for his part in an illegal scheme to help companies win lucrative UN contracts

    +Marketers braced for spending cuts
      Senior marketers face cuts in financial services budgets due to the credit squeeze and fears that expenditure in the cyclical marketing industry has peaked

    +Turkey fears send oil to record high
      Crude oil prices surged to a fresh high of $84 a barrel, on concerns that Turkey might invade northern Iraq to crush Kurdish guerrillas it accuses of attacking Turkish targets

    +Global warming recast as security issue
      Awarding the peace prize to the UN climate change panel shows how global warming has been recast from an environmental issue to one of international security.

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