Stories for April 10th 2008

Thursday, April 10th 2008 - 21:00 UTC
Chavez nationalizes steel sector partly owned by Argentina

President Hugo Chavez announced plans to nationalize Venezuela's biggest steel maker, Sidor, which belongs to the Argentine-Italian group Techint, with shares in the New York Stock Exchange. The group has close links with the Kirchners.
Thursday, April 10th 2008 - 21:00 UTC
Chile considering whale sanctuary along its coastline

Chile appears ever closer to declaring its entire Pacific coastline – one of the longest in the world – a whale “sanctuary.” According to government officials, President Michelle Bachelet is likely to endorse the proposal as early as June, when Chile hosts this year's annual meeting of the International Whaling Commission.
Thursday, April 10th 2008 - 21:00 UTC
IMF forecasts 4.4% growth for 2008 in “resilient” Latam

Economic growth in Latinamerica will slow this year and next because of a “mild recession” in the US and turmoil in global financial markets, according to the International Monetary Fund World Outlook report released Wednesday
Thursday, April 10th 2008 - 21:00 UTC
Nuclear super-carrier in the South Atlantic next May

A mighty warrior of the seas, USS George Washington will be visiting Punta Arenas in the extreme south of Chile next May.
Thursday, April 10th 2008 - 21:00 UTC
UK cuts rate 0.25%; expects inflation to fall back in mid term

The Bank of England on Thursday lowered interest rates to 5% from 5.25% in an attempt to spur the UK economy. This is the third rate cut since early December.

BoE argued that concern over the slowing down of the economy was more immediate that inflation, which should fall back to 2% in the mid term.
Thursday, April 10th 2008 - 21:00 UTC
Targeting short-term inflation ECB leaves Euro rates on hold

The European Central Bank left interest rates on hold at 4% highlighting concern about accelerating short-term inflation pressures and the acknowledgement of a protracted period of economic uncertainty stemming from the global credit crisis.
Thursday, April 10th 2008 - 21:00 UTC
Yuan up 4.3% against US dollar in 2008; 18.3% since Jul 05

The Chinese currency broke this week the psychological benchmark of seven Yuan to the US dollar which could signal a change of policy in Beijing since a stronger currency should help fight inflation and makes food and energy prices cheaper.
Thursday, April 10th 2008 - 21:00 UTC
Brazilian companies doubled profits under Pte. Lula da Silva

Brazilian corporations from 21 different business sectors doubled their profits in the five years of President Lula da Silva administrations (2003/2007), according to information disclosed by Economatica consultants in Sao Paulo.
Thursday, April 10th 2008 - 21:00 UTC
World Bank warns about rising food prices and poverty

World Bank President Robert Zoellick called Thursday for a “New Deal” on global food policy to address hunger and emergency situations in developing countries such as Haiti because of rising food prices.