Stories for February 7th 2008

Thursday, February 7th 2008 - 20:00 UTC
Chile ready to announce electricity saving measures

Depleted reservoirs, the recent closure of a major generating plant and an expected consumption surge in March have Chilean authorities concerned about Chile's ability to meet its growing electricity needs.
Thursday, February 7th 2008 - 20:00 UTC
IMF asks Argentina about inflation data reliability

The International Monetary Fund has asked Argentina's statistics office INDEC to clarify some methodology changes it introduced last year, echoing concerns among economists, statisticians --and public opinion-- over the reliability of the country's inflation data, reported the Buenos Aires press
Thursday, February 7th 2008 - 20:00 UTC
Battle of giants for control of world's basic minerals

Rio Tinto, one of the world's largest mining firms rejected on Wednesday a sweetened mega merger bid from BHP Billiton worth 147 billion US dollars. If the two companies had merged, a company would have been created that controlled one third of the world's iron-ore market.
Thursday, February 7th 2008 - 20:00 UTC
UK cuts rate to 5.25% but warns on inflation and slowdown

The Bank of England cut interest rates 0.25 percentage points to 5.25% amid signs that the UK economy is slowing down. Fears over rising prices and balancing growth and inflation made the Thursday cut relatively soft.
Thursday, February 7th 2008 - 20:00 UTC
Multiple factors in '02 collapse of Larsen B shelf say scientists

Two scientists have claimed that climate change was not the only cause of the collapse of a 500 billion tons ice shelf in Antarctica six years ago. The 200 meters thick, 3.250 square kilometers Larsen B shelf broke apart in March 2002.
Thursday, February 7th 2008 - 20:00 UTC
Brazil opens wheat market to ensure domestic supply

Brazil has decided to temporarily lift the tariff on imported wheat from outside Mercosur trade bloc, following a request made by mills, a spokesperson at Brazil's Foreign Trade Chamber (Camex) said this week.
Thursday, February 7th 2008 - 20:00 UTC
Drilling record: 7 miles extended-reach oil well off Russia

Exxon Mobil Corporation, the world's largest oil company recently broke its own industry record for the longest “extended-reach” oil well: more than seven miles from the frigid shores of Sakhalin Island off Russia's east coast.
Thursday, February 7th 2008 - 20:00 UTC
Euro zone leaves rates unchanged at 4%; inflation priority

Fearing the risks to price stability over the medium term even when the economic fundamentals of the Euro area are sound, the European Central Bank (ECB) Governing Council kept this Thursday interest rates unchanged at 4%.
Thursday, February 7th 2008 - 20:00 UTC
Whale kill photos misleading, Japanese say

The Japanese body responsible for the annual whale kill in the Southern Ocean says the Australian media is using emotional propaganda to mislead the public.
Thursday, February 7th 2008 - 20:00 UTC
Colombian Defense Minister says ties with Israel are strong

Colombian Defense Minister Juan Manuel Santos on Thursday praised his country's long defense relationship with Israel, saying he sought to boost it further by setting up a bilateral fund for technological research and development.