India hopes monsoon will tame inflation

India’s Congress-led government is counting on bountiful monsoon rains to boost agricultural production and tame inflation that hit 10.16 per cent in May, driven partly by a 16.5 per cent rise in food prices

Source: http://www.ft.com

Iranian bank and ship lines face US sanctions

The Obama administration unveiled its widest ranging measures to date against Iran, affecting sectors ranging from banking to petroleum and shipping, in a bid to prevent Tehran from dodging existing restrictions and to encourage other jurisdictions to follow suit

Source: http://www.ft.com

French politicians cling to de Gaulle legacy

Younger people are unimpressed by the elite’s manipulation of a once-potent symbol on the 70th anniversary of French leader’s broadcast

Source: http://www.ft.com

Spain to reveal bank ‘stress tests’ results

The country’s central bank plans to publish the outcome of checks showing estimated loan losses, capital requirements and the contribution of promised balance sheet reinforcements

Source: http://www.ft.com

Osborne abolishes FSA and boosts Bank

Mervyn King will become one of the most powerful central bankers in the world, with a new remit to prevent the build-up of risk in the financial system in addition to his monetary policy role

Source: http://www.ft.com

Israel to ease Gaza blockade

Israel’s security cabinet relents on the Gaza land embargo following an international outcry over a deadly raid on an aid flotilla though no mention of any lifting of the sea blockade

Source: http://www.ft.com

Kyrgyzstan turmoil bares ethnic hate

Residents describe an orchestrated attack aimed at driving ethnic Uzbeks out of the neighbourhood in full view of the Kyrgyz armed forces

Source: http://www.ft.com