Stories for July 2012
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.
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.
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.
Uruguay’s Economy minister Fernando Lorenzo expressed concern about the deteriorating indicators from the Argentine economy which could have a negative impact on the country’s activity.
The Euro-leaf EU organic logo was introduced on 1 July 2010, but in order to help operators adapt to the new rules, and to avoid waste of existing packaging, a 2-year transition period was allowed before it was compulsory on all products.
The Euro-zone could lose 4.5 million more jobs in the next four years unless the region shifts away from austerity, the International Labour Organization (ILO) has warned. That rise would take unemployment in the 17-nation bloc to 22 million.
Prime Minister Mariano Rajoy announced a swathe of new taxes and spending cuts designed to slash 65 billion Euros from the budget deficit by 2014 as recession-plagued Spain struggles to meet tough targets agreed with Europe.
Italy's technocrat Prime Minister Mario Monti, appointed last year to steer his country through a debt crisis, said he was confident a stable government would be formed after elections in 2013, playing down fears of deadlock after he steps down.
Germany's DIW economic research institute slashed its 2013 forecast for Europe's largest economy by 0.5 percentage points to 1.9% on Wednesday, saying the Euro zone debt crisis would have a bigger impact than it had originally expected.
World farm commodity prices will edge higher in the next decade, and oilseeds are set to outperform wheat and other cereals, both trends fuelled by demand in emerging economies, the OECD said on Wednesday, presenting a joint report with the UN's food agency FAO.