Stories for January 13th 2012

Friday, January 13th 2012 - 22:47 UTC

Falkland Islands Holdings agrees to subscribe 2 million new shares from FOGL

Chairman David Hudd pleased to support FOGL exploration activities in the Falklands

Falkland Islands Holdings has agreed to subscribe for 2 million new shares placed by Falkland Oil and Gas Limited. FIH says the £860,000 cost of the shares will be met from the group's existing cash resources.

Friday, January 13th 2012 - 22:37 UTC

Brazil's orange juice threatened by the discovery of the fungicide carbendazim

Growing concerns that the FDA probe and frigid weather in Florida will limit supplies

Orange-juice futures rebounded from the biggest two-day slump since 2008 on renewed concern that a US government probe of imports from Brazil will tighten supplies. The Food and Drug Administration said it will detain all imports that contain carbendazim, a fungicide that isn’t approved for oranges in the US.

Friday, January 13th 2012 - 21:48 UTC

UK producer prices drop in December; further emergency stimulus anticipated

Bank of England left rates at 0.50% and maintained the £ 275 billion stimulus plans

The prices of goods leaving Britain's factories surprisingly fell in December compared with November, confirming expectations that inflation is set to ease further this year, official data showed Friday.

Friday, January 13th 2012 - 21:18 UTC

S&P downgrades France’s rating; Greek swap talks on hold; Euro hits new low

Finance minister Francois Baroin confirmed rating dropped to AA+

Stock markets and the Euro traded lower Friday as Greek debt swap talks were put on hold and France’s Finance minister confirmed that Standard & Poor’s has downgraded the country’s credit rating.

Friday, January 13th 2012 - 21:13 UTC

Several groups interested in taking over bankrupt American Airlines

Latin American routes among the most lucrative routes of American Airlines

US Airways Group, Delta Airlines and private equity firm TPG Capital are among several parties interested in potential bids for AMR Corp, the bankrupt parent of American Airlines according to US financial media reports.

Friday, January 13th 2012 - 21:02 UTC

Trade of illegal pesticides booming in Europe under control of organized crime

In some EU countries up to 25% of pesticides in agriculture are counterfeit

The trade of illegal and counterfeit pesticides is proliferating in Europe reports Europol. The exceptional ‘low risk – high profit’ margin, combined with the lack of harmonisation in legislation and implementation, make this a fast growing area of organised crime.

Friday, January 13th 2012 - 20:15 UTC

Non-official Argentine inflation hits 1.9% in December and 22.81% in 2011

Lawmaker Patricia Bullrich making the announcement

Argentine opposition lawmakers presented December’s consumer inflation index based in the analysis of nine private agencies, which showed a 1.9% increase over the previous month and totalling 22.81% for the twelve months of 2011, roughly double the official index.

Friday, January 13th 2012 - 19:51 UTC

Obama asks Congress for a 1.2 trillion dollars increase in US debt limit

“Further borrowing is required to meet existing commitments” said the US president

US President Barack Obama formally notified Congress that he plans a 1.2 trillion dollars increase in the US debt limit, setting the stage for Republicans to level election-year charges that deficits are out of control.

Friday, January 13th 2012 - 19:21 UTC

Oil company ensures funds for a Falkland Islands’ two-well drilling round

The Leiv Eiriksson rig expected to arrive in the Falklands within the next ten days

UK-based Falkland Oil and Gas (FOGL) announced on Friday it has raised £48.5m (74.3m dollars) through a placing of new ordinary shares to fund drilling of exploration wells in Falkland Islands while it continues active discussions with potential partners for a farm-out.

Friday, January 13th 2012 - 14:48 UTC

Falklands plans to export 30.000 lambs this season from upgraded abattoir

Ferguson said Falklands lamb can be sold successfully because it is “lean, with excellent eating qualities”

The Falkland Islands Meat Company (FIMCo) may export up to 30,000 lambs in the coming season compared to 26,000 last year in an abattoir successfully upgraded by local companies, reports the Penguin News in this week’s edition.

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