Economic

Mervyn, now Lord King, also received a £597 silver napkin ring and a £2,505 sculpture of German playwright and scientist Johann von Goethe when he retired on July 1. The £13,000-worth of gifts were all paid for by the Bank of England, which is owned by the country. Three events were also held to mark his departure, which came to more than £10,000. An evening reception on June 26 cost £4,672, while a £3,450 dinner was held the following day. Another dinner was held on June 28 at a cost of £3,800, with the flowers and invitations for the three events coming to £1,501. The information emerged following a freedom of information request from msn.com, with the Bank of England insisting the gift of the silver napkin ring is normal for all departing senior directors. See PA story ECONOMY King. Photo credit should read: Diana Blakeney/Bank of England/PA Wire NOTE TO EDITORS: This handout photo may only be used in for editorial reporting purposes for the contemporaneous illustration of events, things or the people in the image or facts mentioned in the caption. Reuse of the picture may require further permission from the copyright holder.

Diana Blakeney/PA/Bank of England

On stepping down as governor of the Bank of England, Mervyn King was presented with this portrait of himself by artist Diana Blakeney. In addition to the £10,000 painting Sir Mervyn, now Lord King, received a £597 silver napkin ring and a £2,505 sculpture of German playwright and scientist Johann von Goethe when he retired on July 1. The £13,000-worth of gifts were all paid for by the Bank of England, which is owned by the country. Three events were also held to mark his departure, which came to more than £10,000. The information emerged following a freedom of information request from msn.com, with the Bank of England insisting the gift of the silver napkin ring is normal for all departing senior directors Read more

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Aijaz Rahi/AP

An Indian tribal woman of the Banjara community on Tuesday attends a protest outside a public hearing held by the National Commission of Scheduled Castes in Bangalore, India. The commission is responsible for recognising the communities who suffer because of the age-old practice of untouchability and safeguards their interests according to the Indian constitution. Read more

A pedestrian crosses a road in Tokyo, Japan, on Wednesday, May 15, 2013. Japan's economy expanded the most in a year last quarter as consumer spending and export gains outweighed the weakest business investment since the wake of the March 2011 earthquake and tsunami. Photographer: Akio Kon/Bloomberg

Akio Kon/Bloomberg

A pedestrian crosses a road in Tokyo, Japan. The economy of Japan expanded last quarter, the most in a year, as consumer spending and export gains outweighed the weakest business investment since the earthquake and tsunami of March 2011 Read more

Julia Gillard Visits Papua New Guinea - Day 2...PORT MORESBY, PAPUA NEW GUINEA - MAY 10:  Australian Prime Minister Julia Gillard poses for photographers with students from Marianville girls secondary school on May 10, 2013 in Port Moresby, Papua New Guinea. The three-day visit is a chance for the two nations to strengthen economic ties, with talks being held on key issues including, trade, military defense, and the controversial Australian detention center on Manus Island.The trip is the first official visit for Prime Minister Julia Gillard to the Pacific Island Nation and the first visit since former prime minster Kevin Rudd visited in 2007.

Chris McGrath /Getty

Australian Prime Minister Julia Gillard poses for photographers with students from Marianville girls secondary school on Friday in Port Moresby, Papua New Guinea. The three-day visit is a chance for the two nations to strengthen economic ties, with talks being held on key issues including, trade, military defense and the controversial Australian detention center on Manus Island. The trip is the first official visit for Prime Minister Gillard to the Pacific island nation and the first visit since former Prime Minster Kevin Rudd visited in 2007. Read more

General Views Of Business And Economy As Philippines Beats Indonesia in Gaining S&P Investment Grade...Construction workers labor on the roof of a building in the Fort Bonifacio district of Manila, the Philippines, on Monday, May 6, 2013. The Philippines beat Indonesia to win an investment grade from Standard & Poor's last week as President Benigno Aquino outshines Susilo Bambang Yudhoyono in improving government finances and spurring growth. Photographer: Julian Abram Wainwright/Bloomberg

Julian Abram Wainwright/Bloomberg

Construction workers labour on the roof of a building in the Fort Bonifacio district of Manila, the Philippines. The Philippines beat Indonesia to win an investment grade from Standard & Poor’s last week as President Benigno Aquino outshines Susilo Bambang Yudhoyono in improving government finances and spurring growth. Read more

Protesters from the Islamic Action Front and other opposition parties shout slogans to demand political and economic reform, and access to corruption cases, during a demonstration after Friday prayers in Amman April 19, 2013. "We are all Irbid city" (front L) and "Reached the peak" (front 2nd L

Muhammad Hamed/Reuters

Protesters from the Islamic Action Front, and other opposition parties, shout slogans as they call for political and economic reform, and access to corruption cases, during a demonstration after Friday prayers in Amman, Jordan. Read more