Stories for June 18th 2005

Saturday, June 18th 2005 - 21:00 UTC

Record high for oil and prospects of further surge

The price of oil finished Friday in New York at a new record, 58,47 US dollars per barrel pushed by growing supply concerns with the beginning of the United States vacation period and insufficient refining capacity.

Saturday, June 18th 2005 - 21:00 UTC

Brazilians support Lula da Silva in spite of scandal

Two different public opinion polls show that Brazilian president Lula da Silva popularity has experienced some erosion because of the bribes scandal involving his administration and the ruling Workers party, but nevertheless is the favourite for next year's presidential election.

Saturday, June 18th 2005 - 21:00 UTC

Argentina complains about Italian “hostility”

Argentina admitted Friday that relations with Italy are at their “worst moment” and complained of continuous hostility from the Silvio Berlusconi administration, particularly in the several multilateral organizations.

Saturday, June 18th 2005 - 21:00 UTC

Ecuador redistributes oil income

Ecuador's Congress will give preference to social programs over lowering national debt. The country's Congress voted 64-1 to amend the law regulating the so-called Stabilization, Productive and Social Investment and Public Debt Reduction Fund, FEIREP, which feeds on revenue from the country's rich oil exports.

Saturday, June 18th 2005 - 21:00 UTC

World Bank support for Uruguay's five year reform plan

The World Bank, (WB), extended Uruguay three credits totalling 175 million US dollars earmarked for infrastructure and social development during the official inauguration this week in Montevideo of the bank's regional headquarters.