Stories for August 13th 2008

Wednesday, August 13th 2008 - 21:00 UTC
US surprises: trade deficit down; budget shortfall up

Good and bad news from United States: while the June trade deficit helped by strong farm and manufacture goods exports fell to an unexpected 56.8 billion US dollars, the July federal budget deficit soared to 102.8 billion pushed by the economic stimulus payments and more outlays to protect depositors from failed banks.
Wednesday, August 13th 2008 - 21:00 UTC
China targets stable growth with moderate higher inflation

A major Chinese government think-tank in Shanghai has proposed raising the country's inflation target for this year and next to 5 to 7%, from the current official target for this year of 4.8%, the official China Securities Journal said on Wednesday.
Wednesday, August 13th 2008 - 21:00 UTC
IMF to focus country surveillance on exchange rates impacts

The International Monetary Fund said on Tuesday it will enter talks with countries whose exchange rates do not reflect economic fundamentals and cause problems for other nations and the global economy.
Wednesday, August 13th 2008 - 21:00 UTC
Paraguay's new government, a test for Taiwan diplomacy

Taiwan's president Ma Ying-jeou begins this week his first overseas visit to three Latinamerican countries some of the very few left in the world that still recognise the Republic of China (Taipei).
Wednesday, August 13th 2008 - 21:00 UTC
License for Amazon dam triggers controversy in Brazil

Brazil's environment minister Carlos Minc announced he had granted a license for an Amazon hydroelectric dam but attached stringent conditions to protect Indian reservations and nature preserves. However environmental groups anticipated a long legal battle.
Wednesday, August 13th 2008 - 21:00 UTC
UN proposes plant mutation to tackle food crisis

Plant mutation, a scientific technique that dramatically improves crop productivity, could be part of the solution to the current food and energy crisis that threatens to plunge millions worldwide into hunger, according to a United Nations expert on the subject.
Wednesday, August 13th 2008 - 21:00 UTC
Food prices in the UK soared 13.7% in the last twelve months

UK's annual rate of inflation rose to 4.4% in July, its highest level since records began in 1997. The 0.6% rise was also the biggest monthly change since records began and took the figure to more than twice the government's target.
Wednesday, August 13th 2008 - 21:00 UTC
Argentina's official inflation: even most faithful misbelieve

Enough is enough. Even the most loyal of Argentine President Cristina Fernandez de Kirchner officials are rebelling against the latest consumer prices index released on Monday by the Statistics and Census Office, Indec.
Wednesday, August 13th 2008 - 21:00 UTC
Energy short Chile looks for potential alternative sources

As global temperatures and energy prices soar, scientists, policymakers and environmentalists throughout the world are scrambling for solutions. For its part, Chile could meet as much as half its electricity demands with clean energy, according to a report released Friday by energy experts from the Universidad de Chile and Universidad Tecnica Federico Santa Maria.
Wednesday, August 13th 2008 - 21:00 UTC
Brazilian mining giant orders 12 largest class ore carriers

Brazilian iron ore miner Vale has ordered a dozen of the largest class of ore carriers from a Chinese shipbuilder for 1.6 billion US dollars, aiming to boost business with fast-growing Asian customers.