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Stories for August 7th 2008

• Thursday, August 7th 2008 - 21:00 UTC

  Brazil and Paraguay ready for the Itaipu energy price dispute

  Paraguay and Brazil are preparing for a long dispute over prices from energy generated in South America's largest dam, shared by the neighboring countries, but which is almost entirely absorbed by the industrial hub of Sao Paulo.

• Thursday, August 7th 2008 - 21:00 UTC

  Petrobras announces new light oil discovery off Rio

  

  Brazil's government managed oil and gas corporation Petrobras announced on Thursday a new discovery of light oil with an API grade of around 30 in the ultra deep Santos Basin off the Sao Paulo coast.

• Thursday, August 7th 2008 - 21:00 UTC

  Bolivia's recall vote could confirm political stalemate

  

  Bolivian President Evo Morales is expected to survive a recall vote this Sunday but there are growing concerns about the ongoing political stand off with the conservative opposition which is intent in blocking many of his reforms they define as “socialist”.

• Thursday, August 7th 2008 - 21:00 UTC

  IMF predicts UK will breach fiscal rules and debt ceiling

  

  The IMF predicted the UK would grow by 1.4% in 2008 and 1.1% in 2009, down from the 1.8% for 2008 and 1.7% for 2009 that it predicted in July.

• Thursday, August 7th 2008 - 21:00 UTC

  Congress estimates US budget deficit of 400 billion

  

  The United States budget deficit is expected to reach 400 billion US dollars in 2008, according to estimates from the Congressional Budget Office.