Stories for February 7th 2008
Chile ready to announce electricity saving measures
Depleted reservoirs, the recent closure of a major generating plant and an expected consumption surge in March have Chilean authorities concerned about Chile's ability to meet its growing electricity needs.
IMF asks Argentina about inflation data reliability
The International Monetary Fund has asked Argentina's statistics office INDEC to clarify some methodology changes it introduced last year, echoing concerns among economists, statisticians --and public opinion-- over the reliability of the country's inflation data, reported the Buenos Aires press
Battle of giants for control of world's basic minerals
Rio Tinto, one of the world's largest mining firms rejected on Wednesday a sweetened mega merger bid from BHP Billiton worth 147 billion US dollars. If the two companies had merged, a company would have been created that controlled one third of the world's iron-ore market.
UK cuts rate to 5.25% but warns on inflation and slowdown
The Bank of England cut interest rates 0.25 percentage points to 5.25% amid signs that the UK economy is slowing down. Fears over rising prices and balancing growth and inflation made the Thursday cut relatively soft.
Multiple factors in '02 collapse of Larsen B shelf say scientists
Two scientists have claimed that climate change was not the only cause of the collapse of a 500 billion tons ice shelf in Antarctica six years ago. The 200 meters thick, 3.250 square kilometers Larsen B shelf broke apart in March 2002.
Brazil opens wheat market to ensure domestic supply
Brazil has decided to temporarily lift the tariff on imported wheat from outside Mercosur trade bloc, following a request made by mills, a spokesperson at Brazil's Foreign Trade Chamber (Camex) said this week.
Drilling record: 7 miles extended-reach oil well off Russia
Exxon Mobil Corporation, the world's largest oil company recently broke its own industry record for the longest “extended-reach” oil well: more than seven miles from the frigid shores of Sakhalin Island off Russia's east coast.
Euro zone leaves rates unchanged at 4%; inflation priority
Fearing the risks to price stability over the medium term even when the economic fundamentals of the Euro area are sound, the European Central Bank (ECB) Governing Council kept this Thursday interest rates unchanged at 4%.
Whale kill photos misleading, Japanese say
The Japanese body responsible for the annual whale kill in the Southern Ocean says the Australian media is using emotional propaganda to mislead the public.
Colombian Defense Minister says ties with Israel are strong
Colombian Defense Minister Juan Manuel Santos on Thursday praised his country's long defense relationship with Israel, saying he sought to boost it further by setting up a bilateral fund for technological research and development.
