Stories for April 2008
Latest News feedUS households spending grows the slowest since 2001
The United States economy expanded at an annual rate of 0.6% in the first quarter of 2008, exceeding analyst expectations of an annualized growth rate of 0.2%.
Investment grade for Brazil; stock market balloons 6.3%
Brazil’s Ibovespa stock exchange index jumped to a record on Wednesday after Standard & Poor’s unexpectedly raised the country’s credit rating to investment grade. S&P Ratings Services Brazil’s debt rating announcement from BB+ to BBB- sent domestic stocks soaring 6.3% hitting a new intraday record of 67,854.
Fed cuts rate to 2%; forecasts soft growth in next quarters
The United States Federal Reserve cut on Wednesday its key interest rate 25 points from 2.25% to 2% as it aims to avoid a possible US recession. It is the seventh rate cut since last September, when the rate was cut from 5.25% to 4.75% and in the range of what markets were expecting.
Uruguay anticipates commodities export boom to continue
Uruguay’s Economy minister Danilo Astori said there’s no indication forecasting “the fall of Uruguayan exports international prices” in the framework of the current global surge of commodity prices.
North Falklands Desire Petroleum names new chairman
Desire Petroleum the hydrocarbons exploration company wholly-focussed on the North Basin of the Falkland Islands, announced Wednesday that Dr. Colin Phipps will be stepping down from the Board, due to ill health, with immediate effect.
Falklands councillor talks tourism at conference
A Falklands councillor invited to give an opening presentation at a tourism industry infrastructure meeting in Gibraltar will describe the Falklands experience in setting up an industry from nothing.
Power failure causes panic in crime-ridden Venezuelan capital
A major power blackout hit almost 40% of Venezuela’s territory and left Caracas in the dark for hours on Tuesday. Power was restored to most regions and Caracas by mid-evening. However a feeling of panic invaded Caracas because the transport system grounded to a halt and commuters had to walk through the crime-ridden city.
US and Uruguay sign technology cooperation accord
United States and Uruguay signed on Tuesday a bilateral agreement to promote and increase cooperation in Science and Technology. The agreement was signed by Secretary of State Condoleezza Rice and Uruguay’s Foreign Affairs minister Gonzalo Fernandez during a ceremony at the State Department.
Mrs. Kirchner denies rift with Spain over air flag carrier
Argentine president Cristina Fernandez de Kirchner underlined on Monday the close relations with Spain and vehemently denied tensions over the situation of Aerolíneas Argentinas whose major shareholders are Spanish and allegedly room is being made for Argentine investors to join.
Spanish court rejects extradition of former Argentine president
However Spain’s highest court has ruled that Peron, 77, was not implicated in the death squad’s activities. The Anti-Communist Alliance or Triple A as it was known, murdered as many as 15-hundred people, according to human rights groups. The killings have been described as the start of Argentina’s “dirty war” against leftist dissidents under subsequent military juntas.
