Stories for November 21st 2008
Ecuador auditing commission suggests halting bond payments
A commission auditing Ecuador's foreign debt has recommended that the country halt payments on three bonds worth 3.9 billion USD after finding “illegalities” in the obligations.
Chile's balanced budget threatened by less copper surplus
Plummeting prices for copper and molybdenum, Chile's main exports, are expected to have a negative impact on the country's finances and for the first time in six years, in 2009, the country could end with a budget deficit.
OECD 3Q GDP declined 0.1%, first time in 7 years
Gross domestic product (GDP) in the Organization for Economic Cooperation and Development OECD area declined by 0.1% in the third quarter of 2008, the first fall in seven years, according to preliminary estimates.
China announces overhaul of dairy industry safety
China announced a complete overhaul of its dairy industry Thursday to improve safety at every step, from cow breeding to milk sales, admitting its worst food quality scandal in years had revealed “major problems” in quality control.
RBS shareholders vote on £ 20 billion bail out plan
Shareholders in Royal Bank of Scotland are to vote on a £20 billion bail-out plan which could put nearly 60% of the company in public hands. RBS, one of the worst hit by the banking turmoil, has called a general meeting in Edinburgh to approve the rescue.
CAP reform cuts subsidies, liberalizes dairy market
European Union farm ministers have agreed to reform agricultural policy by shifting more subsidies away from production and liberalising the dairy market. The deal on reforming the Common Agricultural Policy came on Thursday after marathon all-night talks.
World economic confidence index falls to 20-year low
A world economic confidence index released Thursday dropped to its lowest level in 20 years amid further news of heavy losses on global markets and an ongoing crisis among the world's carmakers.
FDA announces offices world wide; first in Beijing
The United States opened Wednesday a Food and Drug Administration office in Beijing, as the first step in an FDA strategy to try to improve food and drug safety standards around the world.
Santiago airport plan to double passenger traffic
Santiago de Chile's international air terminal Pudahuel will be expanded to receive 20 million passengers annually from its current 9 million. The original plan was for the reform to become operational in 2018/19 but given the rapid growth of air traffic plans were advanced to 2013/14.
Falkland Islands: Weekly Penguin News update
Headlines: Celebrities on deck as Ilen refit gets underway in Ireland; Stanley Services Ltd: kerosene price explosion not imminent; Longer wait for would-be residents pending public consultation on immigrant points scheme; New leaders in renewable energy; FIDC's David Waugh to arrive in New Year; This weeks cruise ships.
