Stories for 2008

Wednesday, April 30th 2008 - 21:00 UTC
North Falklands Desire Petroleum names new chairman

Desire Petroleum the hydrocarbons exploration company wholly-focussed on the North Basin of the Falkland Islands, announced Wednesday that Dr. Colin Phipps will be stepping down from the Board, due to ill health, with immediate effect.
Wednesday, April 30th 2008 - 21:00 UTC
Uruguay anticipates commodities export boom to continue

Uruguay's Economy minister Danilo Astori said there's no indication forecasting “the fall of Uruguayan exports international prices” in the framework of the current global surge of commodity prices.
Wednesday, April 30th 2008 - 21:00 UTC
Fed cuts rate to 2%; forecasts soft growth in next quarters

The United States Federal Reserve cut on Wednesday its key interest rate 25 points from 2.25% to 2% as it aims to avoid a possible US recession. It is the seventh rate cut since last September, when the rate was cut from 5.25% to 4.75% and in the range of what markets were expecting.
Wednesday, April 30th 2008 - 21:00 UTC
Investment grade for Brazil; stock market balloons 6.3%

Brazil's Ibovespa stock exchange index jumped to a record on Wednesday after Standard & Poor's unexpectedly raised the country's credit rating to investment grade. S&P Ratings Services Brazil's debt rating announcement from BB+ to BBB- sent domestic stocks soaring 6.3% hitting a new intraday record of 67,854.
Wednesday, April 30th 2008 - 21:00 UTC
US households spending grows the slowest since 2001

The United States economy expanded at an annual rate of 0.6% in the first quarter of 2008, exceeding analyst expectations of an annualized growth rate of 0.2%.
Tuesday, April 29th 2008 - 21:00 UTC
Chavez threatens to expropriate Argentine company

President Hugo Chávez threatened to expropriate Venezuela's largest steel maker, which is owned by an Argentine group, due to what he said are the soon-to-be-nationalized company's excessive compensation demands.
Tuesday, April 29th 2008 - 21:00 UTC
Colombian president said his gov. doesn't buy consciences

Colombian President Alvaro Uribe said on Monday that his government “doesn't buy consciences”. Uribe was responding to reporters' questions about a scandal involving a former Congresswoman Yidis Medina who claims that in return for political favors she voted for a measure in 2004 that enabled the president's reelection.
Tuesday, April 29th 2008 - 21:00 UTC
Herculean challenge ahead for Brazilian petroleum industry

Brazil's plan to become one of the world's biggest oil exporters hinges on exploiting crude 6 miles below the ocean surface in deposits so hot they can melt the metal used to carry uranium to nuclear plants, reports Bloomberg.
Tuesday, April 29th 2008 - 21:00 UTC
Argentine farmers' conflict: extension of deadline considered

Argentine farmers and government representatives met late Monday in an undisclosed location and no information was available as to the terms and agenda of the much expected encounter with the new Economy minister Carlos Fernandez, but a new atmosphere seems to prevail.
Tuesday, April 29th 2008 - 21:00 UTC
EU expects slowdown and higher inflation in 2008/09

The marked slowdown in global activity, United States on the brink of recession and persisting financial turmoil are expected to have an impact on the European Union in the next 24 months with slower economic growth and higher inflation.