Stories for February 4th 2010
Trichet forecasts Euro zone recovery at moderate path but with bumps
The euro zone economy will continue to grow at a moderate pace but with bumps on its path to recovery, European Central Bank (ECB) President Jean-Claude Trichet said on Thursday.
Costa Rica elects president and renews Legislative next Sunday
Costa Rica next Sunday will be electing a successor to president Oscar Arias out of nine hopefuls among which leading public opinion polls is his sponsored candidate, Laura Chinchilla, followed by Conservative Otto Guevara and Socialist Ottón Solis.
Uruguay January prices pick up again and reach 0.93%
Prices in Uruguay surprised in January, showing signs of picking up again, driven in large part by higher medical costs, the latest salaries agreements and dearer vegetables according to data published earlier this week.
Closer ties with France and other allies in UK’s forces future
The British Armed Services will have to rely more on France and other international allies as they face “tough choices” in the coming years, said UK Defence Secretary Bob Ainsworth on the launching of Government Green Paper that will pave the way for a full-scale strategic defence review after the General Election.
Central bank can have operational autonomy but “it is not independent”
Argentina’s newly appointed Central Bank president Mercedes Marcó del Pont, said she “believes in the Central Bank' operational autonomy,” but expressed “it cannot be independent”. She also said they would “work rigorously and continue their policies to bring calm in the currency exchange market.”
Brazil finally decides to purchase Dassault Rafale fighter planes
Brazil has agreed on a price to buy and assemble 36 Rafale fighter jets with French manufacturer Dassault after months of negotiations, a leading Brazilian newspaper reported on Thursday.
Bank of England leaves rates unchanged but pauses pumping liquidity
The Bank of England decided Thursday against further quantitative easing (QE), the policy designed to stimulate growth in the UK economy. Under QE, the Bank has pumped new money into the economy by buying assets such as government bonds, as a way to boost lending by commercial banks.
Last week, it revealed it had spent all of the £200 billion put aside for QE.
BBVA takes over Credit Agricole becomes Uruguay’s second largest private bank
French bank Credit Agricole SA will sell its Uruguayan subsidiary, Credit Uruguay Banco, to the local unit of Spain's BBVA it was confirmed in Montevideo and Madrid.
UK readies for a major Strategic Defence review debate
A Green Paper posing fundamental questions for the future of the United Kingdom’s defence has been published Wednesday by the MoD, paving the way for a post-election (May) Strategic Defence Review (SDR).
As China tries to cool economy asset bubbles fears emerge in Brazil
Brazil, Latinamerica’s largest economy is feeling the consequences of China’s moves to rein in an overheated economy and global fears of asset bubbles in attractive fast developing economies. The strongest warning came this week from the Organization for Economic Cooperation and Development, OECD.
