Stories for June 29th 2010
Boosted by agriculture Paraguay set to expand 6% in 2010
Paraguay expects an annual growth of 5% by the end of President Fernando Lugo’s administration which finishes in 2013 and inflation should not be higher than one digit said Economy Minister Dionisio Borda.
Obama to host 18 African nations’ 50th independence celebration
US president Barack Obama whose father was from Kenya will be hosting next August a major event to celebrate the 50 years of independence of eighteen African countries, according to US sources.
Brazil to implement new banking reserve requirements bases on Basel Index
Brazil's government will implement new reserve requirements on credit operations undertaken by the nation's banks, in compliance with the latest changes in the Basel Index, by 2012, the Central Bank of Brazil said in a statement Monday.
Fitch lifts Brazil’s credit rating to investment-grade; further ‘improvement’ needed
Brazil’s credit rating outlook was boosted to positive from stable by Fitch Ratings, which cited the country’s “growth dynamics” and “prudent” policies. Fitch rates Brazil BBB-, the lowest investment-grade rating and in line with rankings from Standard & Poor’s and Moody’s Investors Service.
Punta Arenas planning International Antarctic Centre
Punta Arenas in the extreme south of Chile and seat of the country’s Antarctic Institute will have a new complex that will include the Institute’s offices, research laboratories and a museum dedicated to Chile’s strong and long presence in Antarctica.
Lion’s share of the drugs business goes to final distributors, says UN expert
The lion’s share (85%) of the gross profits from the cocaine business between South America and the United States ends in the wholesale and retail distribution network in the US according to Antonio Luigi Mazzitelli, head of the UN office on Drugs and Crime for Mexico and Central America.
European crisis ‘key risk’ for UK banking sector, warns Bank of England
The European debt crisis is a “key risk” to the UK's banking sector and banks should build up their cash reserves in response, the Bank of England has warned. In its latest financial stability report, the central bank welcomed recent measures taken by the EU to stem the crisis.
