Stories for July 12th 2012
China cuts retail fuel prices 5%, the third cut in two months
China, the world's second biggest consumer of fuel, has cut retail oil prices by about 5% with immediate effect. This is the third cut in two months, and some analysts say could be an attempt to increase fuel consumption. Demand for oil fell for the first time in three years in April.
US Fed divided as to when decide on a new round of asset purchases
The US Federal Reserve officials are open to the possibility of a new round of asset purchases, though the US economy may need to get weaker before any further action is taken.
Apartment in historic Watergate complex sells for 3.1million dollars
An apartment in the Watergate complex, best known for the break-in that brought down President Richard Nixon in the 1970s, has sold for a record 3.1 million dollars, the Washington Post reported Monday.
Chavez after an extra 9bn dollar to fund “Love for the Elderly”
Venezuelan President Hugo Chávez will seek Congress' approval to hike the 2012 government borrowing cap by about a third to 27 billion dollars to help fund a new pension program ahead of his October 7 re-election bid.
Paraguayan Supreme Court receives unconstitutional appeal on Lugo’s removal
The Paraguayan Supreme Court accepted on Wednesday an unconstitutional appeal against the removal of President Fernando Lugo which requests the annulment of the political impeachment undertaken and voted by Congress.
Chile’s top copper producer placed 2bn dollars in 10 and 30-year bonds
The world’s number one copper producer Codelco announced it had placed 2 billion dollars in bonds, its largest debt issue to date, aimed at refinancing debt and funding a good part of the miner's 2013 investments.
