Brazil’s Petrobras is abandoning Ecuador after not having reached an agreement on the new oil contracts with the government while Spanish-Argentine Repsol-YPF will remain, announced Minister of Non renewable natural resources Wilson Pastor.
The Brazilian government questioned UK’s “unilateral actions” regarding the (Falklands) Malvinas Islands and called for the sovereignty “long standing dispute” to reach “as soon as possible a solution”.
A Lula da Silva Institute will be fully involved in Africa, the world’s poorest continent, and (Brazilian) President Lula will be fully dedicated to that task when he steps down from office next January first, announced a top Brazilian official.
Economics 2008 Nobel Prize Paul Krugman said the United States is heading along a path of stagnation and deflation similar to that of Japan 18 years ago given the critical economic situation and the uncertain political scenario following the recent mid term elections that brought to Congress diehard Republicans.
Colombian state oil company Ecopetrol announced investments of roughly 8.5 billion US dollars in 2011, with 5% of that total to be allocated for projects in the United States, Brazil and Peru.
The International Monetary Fund confirmed Argentina’s request for technical assistance on the elaboration of a Consumer Price Index (CPI). In a statement release by Nicolas Eyzaguirre, Director of the Western Hemisphere Department added “we are currently in contact with the authorities on planning the missions”.
Brazilian president-elect Dilma Rousseff press office announced Thursday that economist Alexandre Tombini will be the next president of the central bank; economist Guido Mantega will continue as Finance minister and engineer Miriam Belchoir coordinator of PAC (program to bolster growth) will become Planning and Budget minister.
The Irish government has unveiled a range of tough austerity measures designed to help solve the country's debt crisis. Among the spending cuts and tax rises are a reduction in the minimum wage, a new property tax and thousands of public sector job cuts.
A formation of Harrier jump jets has made their final journey from HMS Ark Royal - the last such flight from a UK aircraft carrier for about 10 years. The four GR9 jets marked the end of an era when they roared off the deck near North Shields, North Tyneside. Both the Ark Royal and the Harriers are being scrapped under cost-saving plans.
United Kingdom’s export growth helped the economy extend its recovery in the third quarter as growth in consumer, government and investment spending slowed by more than half. GDP rose 0.8% from the previous three months, when it increased 1.2%, the Office for National Statistics said Wednesday in London.