Stories for February 12th 2009
Brazilian president Lula da Silva said the government will help build one million new homes by 2010 to revive economic growth and as part of a package of measures to bolster the domestic market to be announced in coming days.
The Chilean peso hit a new four-month high on Wednesday, driven higher as banks and pension funds sold dollars to buy local bonds, while stocks retreated ahead of a likely aggressive central bank rate cut.
British Prime Minister Gordon Brown is under pressure over his links with former HBOS chief Sir James Crosby, who quit earlier as deputy head of the Financial Services Authority.
The US trade deficit fell to the lowest level in nearly six years in December as the recession depressed demand for imports. US Commerce Department said Wednesday that the deficit in December fell 4% to 39.9 billion US dollars from 41.6 billion in November.
The US budget deficit widened more than economists forecast in January as spending soared and corporate tax receipts shrank, putting the Treasury on course for a record annual shortfall of more than one trillion USD.
The global slowdown have influenced estimates of the Panama Canal Authority, CAP, which now forecasts a 5% drop in cargo tonnage going through the waterway in 2008-2009. This represents a decrease close to 19.9 million tons, leaving a total of 294.1 million.
Venezuelan President Hugo Chavez said that former Polish president and Nobel Prize winner Lech Walesa won't be allowed to visit his country.
In the first session of the year the Mercosur Parliament seated in Montevideo, Uruguay, nominated as its pro tempore president the Paraguayan lawmaker Ignacio Mendoza Unzain.
Brazilian president Lula da Silva admitted this week that trade with Argentina is facing problems, but discarded specific measures against Argentine exports adding that any differences between the two countries will be solved in Mercosur deliberations.
Bad weather, violent conflict and volatile market prices could force a drop off in the global production of cereal crops this year, the United Nations Food and Agricultural Organization (FAO) predicted Thursday after already warning that some one billion people worldwide are going hungry.