Iceland

IEA cuts global oil demand for 2009 and 2010

The International Energy Agency (IEA) slashes global oil demand for 2009 and 2010, following questions over the health of the global economy, weaker-than-expected data from Asia and the Middle East, and repercussions from the volcanic ash cloud and the…

Can the Icelandic meltdown be avoided?

Fears over the strength of the Icelandic banking system have caused the wholesale system to shut on Icelandic banks, prompting the country’s central bank to hike interest rates to record levels. At first sight, the initiative appears to have worked, with…