Stories for January 19th 2009
UK unemployment forecasted to soar to 3.4 million
The United Kingdom unemployment will soar to 3.4 million as the financial crisis deepens, experts predicted ahead of official figures set to show the scale of the jobs crisis rocking the economy.
Euro zone economy in recession will begin to recover in 2010
The Euro zone economy will shrink 1.9% in 2009 and grow by only 0.4% n 2010, the European Commission has forecast. The Commission said in a statement that the whole European Union was facing a “deep and protracted recession”.
Arab economic summit in Kuwait to address global recession
The global economic crisis has cost Arab countries 2,500 billion US dollars in the last four months alone, according to Kuwait's foreign minister.
Venezuela supports OPEC production cuts of 2 to 4m bpd
Venezuela is ready to sponsor a new cut in crude production to protect the oil market, two to four million barrels per day, confirmed Rafael Ramirez, Energy Minister and President of Petroleos de Venezuela (PDVSA), the country's government owned oil corporation.
Ecuador closer to Iran which promised 200 million USD loan
Iran will loan more than 200 million US dollars to Ecuador and will study several investment projects in the country, Ecuador's President Rafael Correa announced during his Saturday radio and television program.
Two of the largest cruises vessels call in Montevideo
Two of the world's most impressive cruise vessels will be calling in Montevideo this week with over 7.000 visitors and 2.400 crew members. They are “Mariner of the Seas”, which is scheduled to spend next Thursday in Uruguay's capital, and on Sunday, “Queen Mary 2” on a 114 day global tour.
Ex Chilean Air Force chief arrested on embezzlement charges
A former Chilean Air Force chief was arrested Monday on charges of embezzling nearly 2.9 million US dollars in a 1994 government deal to buy second hand Mirage Elkan fighter jets from Belgium and refurbish them, according to a Santiago court.
What the world wants of Barak Obama
When Barack Obama is sworn in as the 44th president of the United States, the wish list that has been building abroad may have grown longer than he or anyone else can deliver.
