With the recent 62% increase Brazilian lawmakers (Lower House and Senate) will be among the best paid in the world, ahead of European and US peers and from other emerging economies.
Venezuelan President Hugo Chavez was granted decree powers to pass laws without congressional authorization for the next 18 months, after pro- government lawmakers extended the period from the originally proposed 12 months at the last minute. This means he will have special powers until six months before the next presidential election in 2012 when he anticipated he expects to run.
The Falklands Rockhopper Exploration (AIM: RKH) exploration company ratified Monday its full commitment to oil exploration in the Islands waters on announcing an agreement to increase the number of drilling options, further 3D seismic surveying and discussions with the Falklands’ government for the declaration of a Discovery Area where it stuck oil earlier this year.
Brazilian president Lula de Silva strongly defended Mercosur calling for a quick approval of Venezuela’s incorporation as full member, and proposed other associate members such Bolivia, Chile, Colombia, Ecuador and Chile should follow the same path since ‘we share the same political, economic and cultural affinities’.
Paraguayan senators reiterated that given certain conditions and political agreements they are prepared to vote for Venezuela’s incorporation to Mercosur as full member.
Desire Petroleum plc (DES:AIM) the oil and gas company wholly focussed on the North Falkland Basin, wishes to provide the following operations update.
Chilean regulators approved last week the acquisition by Canada’s Bank of Nova Scotia (BNS) of the The Royal Bank of Scotland, and associate companies following on the agreement signed last September.
Argentina, Brazil, Bolivia and Venezuela are the countries which most reduced inequality and poverty during the last decade in Latinamerica, according to Alicia Bárcena, executive secretary from the United Nations Economic Commission for Latin America and the Caribbean, Cepal.
In a dramatic speech to the National Assembly Cuba’s Raul Castro said he wasn’t elected to restore capitalism nor to surrender Socialism but admitted that “too much secrecy and too many lies” had taken the revolution to a critical situation: “either we rectify or we will plunge from the cliff and the efforts of entire generations would be lost”.
Ecuador, Paraguay and Peru are expected to recognize the state of Palestine with its borders prior to 1967, following the recent announcements from Brazil, Argentina, Uruguay and last week Bolivia, according to Palestine sources.