Stories for June 22nd 2010
Brazil reacts cautiously to the Yuan “greater flexibility” policy
Brazil's Central Bank welcomed China's move to boost flexibility of the Yuan exchange rate, saying the decision showed China's willingness to help the global economy.
Timerman promises Congress support with alleged bribes investigation
Newly appointed Argentine Foreign Minister Héctor Timerman officially takes office Tuesday at a ceremony at Casa Rosada but already has a full table of issues. On Monday in a short release he stated that former Argentine ambassador to Venezuela Eduardo Sadous would ”brief Congress tomorrow (Tuesday), with all the freedoms and responsibilities that come with being a member of the Nation's diplomatic corps.”
G20 leaders (mainly US and Europe) seem divided stimuli timing withdrawal
President Barack Obama has warned against cutting national debts too quickly as it would put economic recovery at risk. In a letter to G20 leaders, the US president said that while it was important to put in place “credible plans” to cut deficits, withdrawing economic stimulus early was dangerous.
Risk rating agency says low risk of a Euro zone breakup; praises Stabilization Mechanism
Although the sovereign debt crisis has revealed weaknesses in several European Union countries, the risk of a Euro zone breakup is low over the shorter term, Fitch Ratings said on Monday.
Vatican confirms relations with Cuba are “cordial and on a healthy course”
Vatican Foreign minister Archbishop Dominique Mamberti concluded an official and pastoral visit to Cuba Sunday saying relations between the Catholic Church and the Cuban governments are on a healthy course, reports the Catholic News Service.
Petrobras plans to invest 224 billion USD and double production to 5.4 million bpd
Brazil's state-run oil company announced Monday it will invest 224 billion US dollars through 2014 and double production by 2020. About 95% of that will be invested in Brazil.
