Stories for 2008

Friday, October 17th 2008 - 20:00 UTC
Melting Arctic sees first vessel through Northwest Passage

The German Institute Alfred Wegener said on Friday that a scientific expedition for the first time was able to navigate the fabled Northwest Passage linking the Atlantic and the Pacific oceans along Arctic waters bordering Russia and North America because they were free of ice
Friday, October 17th 2008 - 20:00 UTC
Uruguay's coalition can't agree on consensus candidate

The leader of Uruguay's senior partner group in the ruling coalition and presidential hopeful, Jose Mujica admitted that if the global financial crisis persists he would prefer his rival, former Economy minister Senator Danilo Astori to become the government's presidential candidate for 2009.
Friday, October 17th 2008 - 20:00 UTC
Miami trial reveals “rampant corruption” in Venezuela deals

The partner of a wealthy Venezuelan businessman on trial for his alleged involvement in a Latin American political cash scandal said Friday they were both deeply involved in rampant government corruption in their home country.
Thursday, October 16th 2008 - 20:00 UTC
Argentine finances need agreement with “holdouts” for 2009

The global financial crisis is likely to delay a deal between Argentina and “holdout” creditors who rejected a 2005 debt swap, leaving the country to rely heavily on domestic sources to confront its financing needs next year.
Thursday, October 16th 2008 - 20:00 UTC
Speaking for EU Sarkozy calls for “new Bretton Woods summit”

All 27 European Union states broadly support the bank rescue plan proposed for the bloc and the holding of a world finance summit, France's president has said.
Thursday, October 16th 2008 - 20:00 UTC
Upbeat message from Bernanke but colleagues talk of recession

The chairman of the US Federal Reserve said on Wednesday the US economy will eventually emerge from the financial crisis with “renewed vigour”, but warns it will not happen quickly.
Thursday, October 16th 2008 - 20:00 UTC
Chinese government recalls all dairy products over a month old

The Chinese Government ordered this week the recall of all dairy products more than a month old in its latest move to contain the contaminated milk scandal that has triggered domestic and world-wide concern.
Thursday, October 16th 2008 - 20:00 UTC
Stiglitz describes financial crisis as a “social problem”

Nobel laureate and renowned economist Professor Joseph Stiglitz described the current financial crisis not as a predominantly economic problem, but as a social one, citing the three million US citizens who have already lost their homes, with another two million expected to lose theirs over the next few months.
Thursday, October 16th 2008 - 20:00 UTC
Brazil fears “unfair” recession caused by financial casino

The leaders of India, Brazil and South Africa criticized rich countries for failing to act quickly to prevent the global financial meltdown. At a summit in New Delhi, they urged Western nations to manage the crisis in a manner that will not hurt their developing economies.
Thursday, October 16th 2008 - 20:00 UTC
Canada Conservatives retain power in spite of global crisis

The Conservative party of Primer Minister Stephen Harper on Wednesday evening declared victory in Canada's general election, but has fallen short of securing a parliamentary majority.