Stories for September 10th 2008
Cristina Kirchner and Chavez named in Miami trial
The names of Argentina and Venezuela presidents Cristina Fernandez de Kirchner and Hugo Chavez openly emerged in the first hearings of a trial in Miami involving an international cash scandal last year, followed by illegal foreign agents threatening to silence the alleged couriers in United States.
Cautious OPEC to strictly comply with agreed quotas
OPEC has told its members to strictly limit their production to agreed quotas as Brent crude dipped below 100 US dollars a barrel for the first time since April. After talks in Vienna, OPEC president Chakib Khelil said the measures to curb over-production amounted to a cut of 520,000 barrels a day within 40 days.
Prices have sunk from a record of more than 147 US dollars a barrel seen in July.
Argentina identifies remains of downed pilot in Falklands
The Argentine pilot remains returned from the Falkland Islands last August correspond to Air Force navigator Captain Fernando Casado, who was shot down during possibly the last air incursion before the end of the conflict in June 1982, according to primary reports published Wednesday in Buenos Aires daily Clarin.
Brazilian economy expanded 6% in the first half of 2008
Brazil's economy expanded 6.1% in the second quarter of 2008 compared to the same period a year ago and 1.6% over the previous quarter, according to the latest release from the Brazilian Geography and Statistics Institute, IBGE. Similarly in the first half of this year Brazil's GDP increased 6% compared to the same period a year ago.
China trade surplus hits new record in August: 28.7 b. USD
China's trade surplus hit a monthly record of 28.7 billion US dollars in August, despite weaker world demand. Other official data showed consumer inflation in the month decreased considerably to a 14 month low of 4.9%.
World's largest iron ore miner hikes price 11% to Asian clients
Brazil's Companhia Vale do Rio Doce, the world's largest iron ore miner, said it is negotiating price increases with its clients in Asia to put them at the same rate as European customers.
Norway blacklists Rio Tinto over environment concerns
Norway is banning its sovereign wealth fund from investing in Anglo-Australian mining firm Rio Tinto because of environmental concerns. The country's Finance minister Kirsten Halvorsen said the 875 million US dollars stake held by the country's “oil fund” would be sold.
Lehman almost KO and no “white knight” on sight
Troubled US investment bank Lehman Brothers has reported a massive third quarter net loss and outlined radical plans to strengthen its finances.
Russian bombers land in Venezuela for exercise
Two Russian strategic bombers landed in Venezuela on Wednesday as part of military exercises, an unprecedented deployment to the territory of a new ally at a time of increasingly tense relations with United States
UN: soaring prices and agro-fuel threaten right to food
The global food crisis caused by soaring prices is jeopardizing the right to food, and any potential solution to the problem must be viewed through the lens of human rights, an independent United Nations expert said Wednesday.
