Stories for August 17th 2009
Falklands Patrol Vessel Ready For Action
FALKLANDS Fishery Patrol Vessel Protegat is ready for action since a refit that not only brings the vessel up to UK Maritime Coastguard standards but enhances her fishery protection and research capabilities.On August 16, Protegat returned from Montevideo, Uruguay following a two month re-fit.
It is official: Argentina’s economy contracted in May and June
Argentina's economy officially contracted in May and June for the first time since the economic crisis in 2001 and 2002 which led to a massive default, according to the latest release from the official statistics office, Indec.
Congress scandal has not influenced Lula da Silva’s record approval rating
Brazilian president Lula da Silva has an approval rating of 67% and his image has not been tarnished by the corruption scandals involving his powerful ally Senator Jose Sarney, according to the latest public opinion from Datafolha, published Sunday by Folha de Sao Paulo.
Brazilian government and private sector differ on rates and strong Real
Brazilian private banks should follow state lenders and lower interest rates to help drive a rebound of the economy, said Central Bank President Henrique Meirelles during a seminar last week in Sao Paulo. He also stated that the Central Bank policy is geared to an accumulation of reserves “to improve the country’s resistance to the crisis”.
Mexican president proposes free trade agreement with Brazil
Mexico's President Felipe Calderon has said he will propose a free trade agreement with Brazil. “Trade enriches economies,” said Mr Calderon during a meeting with business leaders in Sao Paulo.
Chile ponders tidal energy potential in Magellan Strait
An initial study on Chile’s tidal energy capacity confirms the country has “unique global potential” for this renewable energy source. According to the report, published by Chile’s National Energy Commission (CNE), even if only 10% of this renewable resource is harnessed, it would exceed the existing installed capacity of Chile’s central electricity grid, or SIC.
Biggest bank failure in the US; 77 so far this year
The United States has seen the biggest bank failure of 2009 with Colonial Bank, which had assets worth 25 billion US dollars as on June 30, closing operations last week after hit by the financial turmoil.
Japan out of recession in the second quarter after expanding 0.9%
Japan has come out of recession after recording growth of 0.9% in the April-June quarter, compared with the first. The economy had shown four consecutive quarter-on-quarter contractions.
Released documents reveal Brazil’s crucial role in 1973 Chilean coup
Former Brazilian dictator Emilio Garrastazú Médici and ex US president Richard Nixon agreed on the need to oust Chilean peer Salvador Allende and Cuba’s Fidel Castro during a meeting at the White house in 1971, when then advisor Henry Kissinger wrote the minutes, according to declassified documents published Sunday.
British Virgin Islands and Cayman join “white list” of tax standards
The British Virgin Islands and the Cayman islands have joined the global “white list” of countries using internationally recognised tax standards, the Organisation for Economic Cooperation and Development said last Friday.
