Stories for October 5th 2006

Thursday, October 5th 2006 - 21:00 UTC

Fed warns about US inflation and housing slowdown

Federal Reserve chairman Ben Bernanke said Wednesday inflation in United Sates is still too high and anticipated a substantial correction in the housing market.

Thursday, October 5th 2006 - 21:00 UTC

Open societies and the former Soviet Union example

The collapse of a closed system (or a totalitarian regime) does not automatically lead to an open society,” George Soros, the internationally renowned investor and philanthropist told an international audience at the Organization of American States (OAS) meeting Wednesday in Managua.

Thursday, October 5th 2006 - 21:00 UTC

Nicaragua announces plan for Pacific/Caribbean waterway

Nicaragua announced Wednesday plans to build a waterway linking the Pacific and Atlantic that would carry bigger ships than the existing Panama Canal.

Thursday, October 5th 2006 - 21:00 UTC

ECB ups basic rate to 3.25%, highest in five years

The European Central Bank increased on Thursday the basic interest rate of the Euro zone by 25 points to 3.25%, the highest in five years. This was the fifth time rates have been increased since last December.

Thursday, October 5th 2006 - 21:00 UTC

Bolivian miners clash with dynamite: 12 dead

At least 12 people were killed and 57 seriously injured in Bolivia during an ongoing battle between different groups of miners for the control of a government owned tin mine in the region of Oruro.