Stories for August 2007

Wednesday, August 1st 2007 - 21:00 UTC
Panama becomes homeport for Royal Caribbean cruises

Panama and Royal Caribbean Cruises Ltd. agreed this week to make Panama the starting point for some of its tour operations in a bid to boost the cruise operator's presence in the region and to attract more tourists to the Central American country.
Wednesday, August 1st 2007 - 21:00 UTC
British Airways fined a record £121 after admitting collusion

British Airways has been hit with a record £121.5 million fine after it admitted to collusion over fuel surcharges on long-haul flights.
Wednesday, August 1st 2007 - 21:00 UTC
World fears that oil could reach new record prices

Oil prices are nearing an all time record after supply concerns on Tuesday lifted them above 78 US dollars a barrel, almost the 78.40 reached in the aftermath of the Lebanon conflict in July 2006.
Wednesday, August 1st 2007 - 21:00 UTC
Global impact from the US deteriorating housing market

Stock markets across Asia have suffered heavy falls on fresh concerns over the impact of the problems in the US housing market which on Tuesday caused sharp losses on Wall Street.
Wednesday, August 1st 2007 - 21:00 UTC
US tenth largest residential mortgage bank collapses

Shockwaves of still unknown impact crashed through financial markets Tuesday when the United States Melville-based American Home Mortgage Investment Corp. announced it was suffering credit problems and would consider “going into liquidation” among other options.
Wednesday, August 1st 2007 - 21:00 UTC
Chile's richest man leaves LAN and dreams of becoming president

Chilean billionaire and former presidential candidate Sebastian Piñera has resigned as director of airline LAN, less than a month after he was fined for buying shares in the company while in possession of privileged information.
Wednesday, August 1st 2007 - 21:00 UTC
Royal Navy patrol ship can't get enough of Merseyside

Returning for the second time in four months, HMS Mersey will once again fly the flag for the Royal Navy as she sails in to reinforce links with her affiliated borough of Sefton on Thursday (August 2)
Wednesday, August 1st 2007 - 21:00 UTC
Santa Cruz fishing conflict dead locked; Spain concerned

The fishing industry conflict in Patagonia's Puerto Deseado where striking workers torched six processing plants and has ceased all activities in the sector for almost a month is far from a solution and could further escalate, warn local authorities.
Wednesday, August 1st 2007 - 21:00 UTC
OPEC holds 77.2% of proven global oil reserves

The Organization of Petroleum exporting countries, OPEC, holds 77.2% of the world's proven reserves and 49.3% of natural gas, according to the latest Annual Statistical Bulletin for 2006, an anticipation of which was released this week in Vienna but will be officially presented on September 13.
Wednesday, August 1st 2007 - 21:00 UTC
Oil industry forecasts consolidation of Falklands' offshore companies

Consolidation among the four major players in the upstream oil and gas exploration sector in the South Atlantic off of the Falkland Islands is likely in the short-term, reported this week the Financial Times.