Stories for August 2007

Monday, August 27th 2007 - 21:00 UTC
Sub-prime mortgages default “bigger threat than terrorism”

The risk of massive defaults on sub-prime mortgages and heavy debts now poses a bigger threat to US economic prosperity than terrorism, a panel of US business economists said Monday.
Monday, August 27th 2007 - 21:00 UTC
Dominican Republic joins East Asia-Latam Cooperation forum

The 33 countries from the Forum of East Asia-Latin America Cooperation (FEALAC), which was held in Brasilia ratified multilateralism and a more fair international economic order and welcomed the Dominican Republic as a new member of this international organization.
Monday, August 27th 2007 - 21:00 UTC
UN global climate change meeting opened in Vienna

United Nations-backed climate change talks drawing 1,000 representatives from over 150 Governments, business and industry, environmental organizations and research institutions kicked off in Vienna Monday, preparing the way for a global summit set for later this year in Bali.
Monday, August 27th 2007 - 21:00 UTC
Housing sector gives no respite to US markets

Concern that United States house prices could fall sharply has returned after a key survey showed that sales fell to a near five-year low in the year to July. Sales of existing homes fell 0.2% to 5.75 million units in the year, the lowest since November 2002, said the National Association of Realtors (NAR).
Monday, August 27th 2007 - 21:00 UTC
Chile hikes electricity rates 20%, highest since 2000

Energy experts and government officials expect household electricity bills will rise twenty percent between now and November. If this estimate turns out to be true, it will represent the most dramatic increase in electricity bills since 2000.
Monday, August 27th 2007 - 21:00 UTC
Rio Tinto to become world's largest producer of aluminum

Anglo-Australian mining group Rio Tinto announced Monday that its bid to buy Canada's Alcan for 38.1 billion US dollars has been approved by US antitrust authorities.
Monday, August 27th 2007 - 21:00 UTC
Brazilian company buys main Chilean abattoir in Tierra del Fuego

A leading Brazilian meat industry group Marfrig acquired an abattoir in Tierra del Fuego belonging to a group of cattle farmers from Magallanes Region, reports La Prensa Austral from Punta Arenas. The operation involved 8.5 million US dollars.
Monday, August 27th 2007 - 21:00 UTC
Punta Arenas, the second most expensive city in Chile

Punta Arenas figures as the second most expensive city in Chile behind the capital Santiago, according to the latest report from the Business School of the Universidad del Desarrollo released this week.
Sunday, August 26th 2007 - 21:00 UTC
Princes' tributes at Diana, Camilla pulls out of service

Prince William, Prince Harry and Lady Sarah McCorquodale will all give readings at the memorial service for the 10th anniversary of Diana, Princess of Wales's death.
Saturday, August 25th 2007 - 21:00 UTC
Malvinas recovery, “a long term issue if to be solved peacefully”

“Recovery of Argentine sovereignty over the Falkland/Malvinas islands will not be defined in the short term or near future” admitted an advisor from the Argentine Foreign Affairs ministry who warned that “such a negotiation needs patience”.