Stories for August 3rd 2007
Argentina offered end of pickets for delay in opening pulp mill
Uruguay rejected an Argentine proposal for a truce in the pulp mills conflict during the recent two days technical meeting held earlier this week in New York under the “dialogue facilitating efforts” of the Spanish Crown.
ECB rates unchanged at 4% but September hike is forecasted
The European Central Bank (ECB) left Eurozone interest rates on hold at 4% for the second month in a row. The Thursday decision however also anticipated that the ECB will be hiking rates next September or October
Chilean Congress approves free trade agreement with Japan
The Chilean Senate ratified this week the first free trade agreement with Japan and next week Chile is scheduled to begin a round of bilateral negotiations with Australia hoping to reach a similar free trade agreement.
Falkland Islands: Penguin News Weekly Update
Headlines: Scouting centenary celebrated worldwide; No vacancy for vet with 'limited experience' says FIG; Shortlist for post of Chief Executive; New Minister confirms policy.
Bank of England “wait and see” policy leaves rate at 5.75%
The Bank of England decided Thursday to leave the cost of borrowing at 5.75%. The Monetary Policy Committee (MPC) had been widely expected to keep rates on hold this month, as it waits to see the impact of the rises so far, but many economists predict rates will go up to 6% later this year.
Change is just beginning says candidate Cristina Kirchner
Argentine Senator and presidential candidate Cristina Fernandez de Kirchner said that in Argentina “change is just beginning” because the current President Kirchner administration has managed to reinstate the constitutional democratic system.
Bolivian peasants promised 30 million hectares of land
Bolivian president Evo Morales signed Thursday a decree which further advances his controversial “agrarian revolution” of expropriation of idle land to distribute among the aboriginal population and which is strongly resisted by business sectors.
Chavez again to the rescue of Argentina's financial woes
Argentina' cabinet chief Alberto Fernandez confirmed Thursday that the coming week Venezuela will again purchase Argentine sovereign bonds for which “we Argentines should, and must be fully acknowledged to President Hugo Chavez” for the financial help extended.
“Fiscal orthodoxy”, once Cristina K becomes president
Faced with the growing turbulence of global financial markets and Senator Cristina Fernandez October 28 presidential bid Argentine President Nestor Kirchner has instructed his advisors to promote domestic consumption and ensure economic expansion, but as of next November “fiscal revenue must be higher than expenditure” according to reliable political sources in Buenos Aires.
Leading Chilean bishop calls for improved income distribution
Chilean Episcopal Conference president Monsignor Alejandro Goic who played a leading mediation role in a labor conflict in the copper mines, said that one of the causes for labor strife are low salaries and suggested that the “minimum salary should really be converted into an ethical salary”.
