Stories for September 19th 2009
Lula da Silva predicts Brazil will become world power in ten years
President Lula da Silva predicts that Brazil in the near future will be in the short list of the world’s largest economies, probable in third or fourth position, and if “less lucky” at the most ranked fifth.
European leaders agree on global deal for bankers’ bonuses
European Union leaders have agreed to seek a global deal for bankers' bonuses to be clawed back if profits fall. The leaders meeting in Brussels approved the clause as part of a common EU position for next week's G20 summit in Pittsburgh in the US.
US tighter supervision of credit rating agencies
United States credit rating agencies will face tighter supervision under new rules adopted by the US financial watchdog.
Reflecting recession, Argentina’s foreign trade dropped by 40% during August
Argentina's August trade surplus dropped 48% from the same month a year ago to 1.16 billion US dollars as exports sank, the government said on Friday. Imports fell by 37% during the month to 3.25 billion, while exports dropped by an even bigger 40% to 4.40 billion USD due to lower prices and reduced volumes, particularly by the drought-hit farming industry.
Brazil’ stock exchange reaches new high; 62% gain so far in 2009
Brazilian blue-chip shares closed on Friday at a 14-month high as global investors continue to flock to the country. The benchmark Ibovespa stocks index closed 0.8% higher at 60,703 points, up from Thursday's close at 60,236 points and breaking through the psychologically important 60,500-point mark.
Latinamerican conference on regional migratory policy
Latinamerican countries will try to unify a regional migratory policy during the 9th South American Conference on Migration, to be held here on Sept. 21-22, announced Ecuadorian Migration Minister Lorena Escudero.
G 20: “Step up reforms” in IMF and WB, demand developing countries
Emerging countries and particularly those from Latinamerica will propose at the coming G-20 summit in Pittsburgh that reforms of the IMF and World Bank, where they expect to have a larger representation, move much faster.
Last US forces abandon Manta military base in Ecuador
The United States formally left the Manta military base in Ecuador on Friday at 9.00 a.m. local time, at a ceremony in which Ecuadorian authorities took full control of the Pacific Coast facilities.
Argentina’s capital flight in the first half of 2009 reached 7.5 billion USD
Capital flight in Argentina climbed during the second quarter, with net outflows of 4.279 billion US dollars from the non-financial private sector, according to Friday’s report from Indec.
US/Cuba talks for resumption of direct mail service
The United States and Cuba have begun talks on resuming direct mail service, which has been suspended since 1963. US Deputy Assistant Secretary for Western Hemisphere Affairs Bisa Williams is leading the delegation to the negotiations in Havana.
