Stories for May 3rd 2005

Tuesday, May 3rd 2005 - 21:00 UTC

Falkland Oil and Gas Limited Update.

Significant increase in number of identified leads.

Enhanced possibility of a new petroleum province in the South and East Falkland Basins.

Tuesday, May 3rd 2005 - 21:00 UTC

Gusher dreams push up Falkland Oil and Gas

Exploration minnow Falkland Oil and Gas gushed after seismic reports dramatically increased the prospect of discovering sizeable reserves of oil and gas.The company will have to raise fresh funds to step up the exploration work.

Tuesday, May 3rd 2005 - 21:00 UTC

Antarctic project to unveil climate secrets

A scientific Antarctic sea bed sediments project with the purpose of unveiling global climate secrets of the past was undertaken this season by the United States icebreaker “Nathaniel Palmer” which called in Punta Arenas after three years absence.

Tuesday, May 3rd 2005 - 21:00 UTC

Further IMF praise for Brazil's perfomance

More International Monetary Fund praise for Brazil, this time in the latest edition of the IMF Survey, where Deputy Director for the Latinamerican Department Charles Collyns anticipates Brazil will be one of the world's “heavy weights” in the next five to ten years.

Tuesday, May 3rd 2005 - 21:00 UTC

Fed raises basic rate to 3%, and promises more

Arguing that “pressures on inflation have picked up in recent months and pricing power is more evident” the United States Federal Open Market Committee decided Tuesday to raise its target for the federal funds rate by 25 basis points to 3 percent.

Tuesday, May 3rd 2005 - 21:00 UTC

US admits crucial role in OAS vote

United States admitted Tuesday it played a crucial role in making Mexican Foreign Affairs minister desist from his candidacy to the Organization of American States, OAS, Secretary General post and so opening the way for the elected Chilean candidate Jose Miguel Insulza with an overwhelming support.