Stories for July 12th 2012
ECB zero deposit-rate shakes EU banking system and forces to look for alternatives
European Central Bank's new zero deposit rate had an instant impact as it came into force, with banks more than halving the amount of cash parked there overnight and one ECB policymaker saying he expected the move to increase banks' lending.
Gibraltar says UK/Spain bilateralism is “dead and will never ever be revived”
Gibraltar Chief Minister Fabian Picardo has declared that UK-Spain bilateralism is “dead and will never ever be revived under any circumstances” regarding the Rock’s future.
Rockhopper signs a billion dollars deal to develop Falklands’ oil discovery
Britain's Premier Oil announced on Thursday a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands.
Brazil lowers benchmark rate for eighth straight time to 8%
Brazil’s central bank cut its benchmark interest rate for the eighth straight time and signaled it will continue to lower borrowing costs, as spillover from a global economic slowdown limits inflation risks.
Boom year for the Falklands’ tourism industry propped by the war’s anniversary
Tourist arrivals to the Falkland Islands are expected to increase by 14.9% in 2012, with a significant 28.8% jump in the number of leisure visitors, mainly driven by the 30th anniversary of the Falklands War.
Cristina Fernandez challenges organized labour determined to have Moyano sacked
The Argentine powerful organized labour unions, CGT is heading for a fracture from the moment two different congresses have been convened at different dates, one of them supportive of President Cristina Fernandez’ administration and the other entirely in the opposition.
Argentina displaces Venezuela as holder of the region’s highest inflation title
Venezuela’s president Hugo Chavez running for re-election received a considerable boost for his campaign from his peer and political associate President Cristina Fernandez when it was revealed that Argentine inflation in the first half was over two digits.
Argentine economy suffering from a mix of stagnation and strong inflation
The stagnation of the Argentine economy at the end of the first half of the year is “palpable” and so is tension in the money exchange market because of the restrictions on the purchase of US dollars imposed by the government of President Cristina Fernandez, according to a report from economic advisors Ecolatina from Buenos Aires.
Washington says Paraguay should not be suspended from OAS and calls for regional unity
Paraguay should not be suspended from the Organization of American States, OAS, despite the removal of President Fernando Lugo, said on Wednesday Roberta Jacobson, Assistant Secretary of State for Western Hemisphere Affairs.
Canada protests Bolivian decision to revoke licence to mine silver deposits
Canadian company is protesting Bolivia's decision to revoke its licence to mine a rich silver deposit in the country and nationalize the project.
