Stories for July 7th 2007

Saturday, July 7th 2007 - 21:00 UTC
Euro rate unchanged at 4%, but policy remains “accommodative”

The European Central Bank, as forecasted, kept its key interest rate at 4% on Thursday, but President Jean-Claude Trichet hinted of future rate hikes in response to continued growth in Germany, Italy and other European countries.
Saturday, July 7th 2007 - 21:00 UTC
June inflation in Chile reaches 0.9%, the highest since 1991

The National Statistics Institute (INE) revealed this week that Chile's Consumer Price Index increased 0.9% in June. That figure is nearly double the 0.5% monthly government projection, and it revived calls for higher interest rates to calm inflation worries.
Saturday, July 7th 2007 - 21:00 UTC
Lake disappearance linked to global warming

Experts from Chile's National Forestry Service (CONAF) and the Valdivia Center for Scientific Studies (Cecs) this week linked the May disappearance of a glacial lake in far southern Chile to global warming. The team made these claims after a series of visits to the site of the lost lake starting Thursday, and noted there is a possibility that the lake could reform.
Saturday, July 7th 2007 - 21:00 UTC
Lula calls Chavez “my friend” but also defends Congress

Brazil's president Luiz Inacio Lula da Silva admitted Friday the existence of problems between Brasilia and Caracas, although he downplayed the tone of the dispute with his Venezuelan counterpart Hugo Chavez, whom he called my “friend”.
Saturday, July 7th 2007 - 21:00 UTC
German high court rules Argentina must repay bondholders

Argentina has no excuse to avoid repaying private German sovereign bond holders who lost out in the worst sovereign debt collapse in modern history, Germany's top court said Friday.
Saturday, July 7th 2007 - 21:00 UTC
Bush administration wakes up to South America's reality

Several outstanding United States officials will be visiting “friendly” countries in South America to promote political and trade links in the framework of what has been described as the year of the “US commitment with Latinamerica”.
Saturday, July 7th 2007 - 21:00 UTC
Shell plans to launch new exploration campaign in the Artic

Royal Dutch Shell is to launch a new exploration campaign in the Arctic north of Alaska in a bid to tap the region's vast oil and gas reserves.
Saturday, July 7th 2007 - 21:00 UTC
Global pool offers World new 7 Wonders

About 100 million votes were cast by the Internet and cellphone text messages, said New7Wonders, the nonprofit organization that conducted the poll.
Saturday, July 7th 2007 - 21:00 UTC
Panama to start work on Canal expansion

The first bid in a 5.2 billion-dollar project to widen the Panama Canal was issued on Friday to a Panamanian company, officials said.
Saturday, July 7th 2007 - 21:00 UTC
LAN holder, and conservative leader, fined for insider trading

Chile's securities regulator on Friday fined a leading right-wing politician and former presidential candidate for insider trading of LAN Airlines SA stock