Stories for November 9th 2012

Friday, November 9th 2012 - 06:41 UTC

Chilean ambassador return to Paraguay ‘when electoral process begins’

“On the return of diplomats (to Paraguay) there is not agreement” said Chilean minister Moreno

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.

Friday, November 9th 2012 - 06:34 UTC

Judge Griesa summons new hearing on case of hedge funds holding Argentine bonds

“We hold that Argentina breached its promise” said the Appeals Court

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.

Friday, November 9th 2012 - 06:30 UTC

Draghi confirms economic activity in Euro is “expected to remains weak”

”Financial market confidence has visibly improved”, said ECB president

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%.

Friday, November 9th 2012 - 06:27 UTC

FAO October Price Index: cereals and oils down; increases in dairy and sugar

2012 world rice production may surpass last season's record, supported by favourable growing conditions.

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.

Friday, November 9th 2012 - 06:23 UTC

Chile’s ENAP and BG clash over supply of LNG from Egyptian fields

BG CEO Chapman said to re-invigorate a field in Egypt costs the company 30.000 barrels of oil equivalent per day of lost gas output

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.

Friday, November 9th 2012 - 06:19 UTC

Leading pollster dumps October survey because Chileans preferred not to reply

President Piñera is going from a chain of political setbacks

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.

Friday, November 9th 2012 - 06:15 UTC

Bank of England leaves further stimuli and rate on hold

On Friday the bank should release stats showing lending rates to consumers and small businesses are lower

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.

Friday, November 9th 2012 - 06:05 UTC

EU and ten Latinamerican countries end 20-year ‘banana dispute’

WTO Lamy at Geneva

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’.

Friday, November 9th 2012 - 06:01 UTC

Why foreign policy holds the key to Obama’s second term

Timothy Geithner and Hillary Clinton are stepping down from cabinet

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.

Friday, November 9th 2012 - 05:57 UTC

Outgoing Chinese leader: tackle corruption otherwise party and state will collapse

President Hu Jintao also pledged to double the economy and make China a maritime power

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.

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