Saturday, February 6th 2010 - 01:58 UTC

Falklands say oil development is to ensure sustainable economic future

British PM Brown has not doubt about the Falklands sovereignty

The Falkland Islands government said that hydrocarbons exploration is an important element to achieve a sustainable economic future for the Islands and quoted from British PM Gordon Brown New Year message when he said that there are “no doubts about UK sovereignty over the Falklands ” and the principle of self determination.

Saturday, February 6th 2010 - 01:54 UTC

Recession plunges record number of people into insolvency in 2009

Company failures soared to the highest level in 16 years

Britain's longest- and deepest-ever recession plunged a record number of people into insolvency last year, new figures show. A total of 134,142 people went bankrupt or took out an Individual Voluntary Arrangement (IVA) or Debt Relief Order during the year, according to the Insolvency Service.

Saturday, February 6th 2010 - 01:45 UTC

Spain’s economy contacted 3.6% in 2009, the most in decades

Miguel Fernandez Ordoñez, Bank of Spain governor

First the bad news: Spain's economy contracted by 3.6% in 2009, the most in decades, as domestic demand plummeted according to a Bank of Spain estimate that was in line with government forecasts.

Friday, February 5th 2010 - 03:19 UTC

IMF says monetary policy needs of “independent central banks”

Caroline Atkinson, Director of the External Relations Department at the IMF

The International Monetary Fund, IMF, made a public veiled reference to Argentina’s Central bank institutional crisis underlining the importance of having independent central banks for monetary policy all over the world.

Friday, February 5th 2010 - 02:57 UTC

Brazil’s dilemma: how to contain growth (inflation) in an electoral year

Henrique Meirelles, orthodox governor of Brazil’s Central Bank

Brazil's Central Bank Monetary Policy Committee, Copom, expressed concern about inflation and advanced it was prepared to respond “promptly” according to the minutes from its meeting last week when it decided to maintain the basic interest rate at 8.75%.

Friday, February 5th 2010 - 02:39 UTC

World markets collapse on fears of Euro zone debt problems

Jean-Claude Juncker, head of Euro-group Finance ministers said Portugal and Spain posed no risks to Euro stability

Concerns about the US economy and the potential spread of debt problems in the Euro zone (Greece, Portugal and Spain) have led to large falls in world stock markets. US and key European markets lost more than 2% while those in Spain and Portugal fell by more than 5%.

Thursday, February 4th 2010 - 23:21 UTC

Trichet forecasts Euro zone recovery at moderate path but with bumps

ECB President Jean Claude Trichet trying to defend Greece

The euro zone economy will continue to grow at a moderate pace but with bumps on its path to recovery, European Central Bank (ECB) President Jean-Claude Trichet said on Thursday.

Thursday, February 4th 2010 - 18:16 UTC

Uruguay January prices pick up again and reach 0.93%

Medical costs were among the items with highest increases

Prices in Uruguay surprised in January, showing signs of picking up again, driven in large part by higher medical costs, the latest salaries agreements and dearer vegetables according to data published earlier this week.

Thursday, February 4th 2010 - 17:58 UTC

Central bank can have operational autonomy but “it is not independent”

Mercedes Marcó del Pont, Argentina’s new central bank governor promised “no surprises with the US dollar”

Argentina’s newly appointed Central Bank president Mercedes Marcó del Pont, said she “believes in the Central Bank' operational autonomy,” but expressed “it cannot be independent”. She also said they would “work rigorously and continue their policies to bring calm in the currency exchange market.”

Thursday, February 4th 2010 - 17:36 UTC

Bank of England leaves rates unchanged but pauses pumping liquidity

Bank Governor Mervyn King warned about inflation on the short term

The Bank of England decided Thursday against further quantitative easing (QE), the policy designed to stimulate growth in the UK economy. Under QE, the Bank has pumped new money into the economy by buying assets such as government bonds, as a way to boost lending by commercial banks.
Last week, it revealed it had spent all of the £200 billion put aside for QE.


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