Stories for December 20th 2007

Thursday, December 20th 2007 - 20:00 UTC
Whales believed to have evolved from a deer-like animal

A group of researchers says that the closest known evolutionary cousin of whales, dolphins and porpoises is not the hippopotamus, as conventional wisdom has it, but an extinct deer-like animal roughly the size of a raccoon.
Thursday, December 20th 2007 - 20:00 UTC
Peru is planning not to renew loan agreements with IMF

Peru, one of the International Monetary Fund, IMF, clients has announced it has no intention of renewing the stand by agreement that extends until February 2009.
Thursday, December 20th 2007 - 20:00 UTC
S. Korea and Bolivia to develop copper mine in the Andes

South Korea and Bolivia have agreed to jointly develop a copper mine in the Andean highlands estimated to have at least 15 million tons of the natural resource, according to a government release from La Paz and Seoul.
Thursday, December 20th 2007 - 20:00 UTC
Massive expansion of steel industry and iron mining in Brazil

Brazil's second largest steelmaker this week confirmed last September's pledge to invest 9 billion US dollars over the next four years, revealing plans to plow 5.25 billion US dollars into mining, steel and cement projects in Minas Gerais state over the next six years.
Thursday, December 20th 2007 - 20:00 UTC
Inflation, ECB target; no Euro interest rate cut on sight

The European markets fell for the consecutive third day on Wednesday after European Central Bank President Jean-Claude Trichet signaled that faster inflation will prevent policy makers from cutting interest rates to ease the continuing crunch in the credit markets.
Thursday, December 20th 2007 - 20:00 UTC
Ireland pushing for EU ban on Brazilian beef imports

Ireland wants an immediate ban on Brazilian beef imports into the European Union due to concerns that the country's produce does not meet the standards of the bloc, Irish farm minister Mary Coughlan said on Wednesday.
Thursday, December 20th 2007 - 20:00 UTC
Ban Ki-moon reflects on first year as UN Secretary General

United Nations Secretary-General Ban Ki-moon today looked back on his busy first year in office, which took him to nearly 40 countries or territories on six continents to push for progress in four main areas – UN reform, climate change, human rights and the Millennium Development Goals (MDGs), and international security
Thursday, December 20th 2007 - 20:00 UTC
Record investment boosts Brazilian growth 5.2% in 2007

Brazil's GDP is forecasted to expand 5.2% in 2007, up from the original 4.5%, said the Applied Economics Research Institute, IPEA, an office from the Brazilian Executive. The quarterly report indicates that the industrial sector is estimated to grow 6% this year, up 0.8 percentage points above the first estimate.
Thursday, December 20th 2007 - 20:00 UTC
Japan leaves rates unchanged on fears of global debt crunch

The Bank of Japan has kept interest rates on hold at 0.5% amid worries over the global credit crisis and dips in domestic business confidence. The expected move came as the central bank revised down its economic growth forecast for Japan for the year to March 2008.
Thursday, December 20th 2007 - 20:00 UTC
China raises interest rates and subsidizes pork farmers

China's People's Bank (central bank) has raised interest rates for the sixth time this year, adding to its efforts to cool the country's surging inflation. The benchmark lending rate will rise to 7.47% from 7.29% with effect from Friday, while the main deposit rate will increase to 4.14% from 3.87%.