Stories for November 9th 2012
Chilean Foreign minister Alfredo Moreno said on Thursday it had not been decided when Chile’s ambassador to Paraguay, Christian Maquieira would be returning to Asuncion and pointed out that the diplomat continues “in consultations” with Santiago, following the removal of former president Fernando Lugo.
US Judge Thomas Griesa summoned a new hearing at New York Court over the case of investment funds against Argentina. The judge agreed with both parts a hearing on Friday to define the following steps after the US Appeals Court ruling issued on October 26.
The European Central Bank (ECB) has held the benchmark Euro zone interest rate at the record low of 0.75%, as had been expected. The rate has been at this level for four months, after July's cut from 1%.
The FAO Food Price Index fell 1% in October 2012, and for the first ten months of the year food prices were on average 8% lower than in the same period in 2011. The Index dipped two points to 213 points from September's revised level of 215 points. The decline was largely due to lower international prices of cereals and oils and fats, which more than offset increases in dairy and sugar prices.
Chilean government owned oil and gas company, ENAP, described as ‘unacceptable’ British Gas announcement to GNL Chile that its will not comply with provision contracts next year.
One of Chile’s leading pollsters Adimark GfK announced on Thursday it would not be publishing the political public opinion poll for the month of October because of the high percentage of “no reply” during interviews.
The Bank of England has decided not to extend its quantitative easing (QE) stimulus program, which has injected £375bn into the UK financial system. Under QE, the Bank creates money and uses it to buy government bonds to try to stimulate the economy.
The European Union and ten Latinamerican countries signed an agreement on Thursday settling the longest running series of disputes in the history of the multilateral trading system, better known as the ‘banana dispute’.
President Barack Obama’s victory over Mitt Romney is a landmark moment in US politics. He is only the second Democratic president to win re-election since Franklin Roosevelt in 1936, doing so despite a very challenging economic headwind of sluggish growth and comparatively high unemployment in the United States.
China’s outgoing leader has warned corruption could destroy the Communist Party but stepped up plans to double the size of the economy and build a powerful maritime force. President Hu Jintao unveiled an ambitious target to double per-capita incomes and implied the economy would achieve annual growth of about 7% over the next eight years.