Stories for July 2012
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.
Uruguay concerned with Argentine economy growing misbalances
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.
'Euroleaf', trademark for the strict EU organic farming standards
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.
ILO anticipates further job losses in Euro-zone because of austerity measures
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.
Rajoy raises VAT to 21% and drastically cuts benefits and other perks
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 caretaker PM Monti says next year’s election can be looked at “with serenity”
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 expected to grow 1.9% in 2013 because of Euro crisis
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.
OECD/FAO anticipate promising future for farm-commodity prices
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.
