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Stories for February 19th 2009

• Thursday, February 19th 2009 - 20:00 UTC

  Stanford failure panic spreads to Peru and Venezuela

  

  Peru and Venezuela have become the latest countries to intervene in local banks controlled by the Stanford group as it faces fraud accusations. Peru's securities regulator suspended local operations of the Stanford Financial Group for 30 days.

• Thursday, February 19th 2009 - 20:00 UTC

  UK Bishop who denies Holocaust must leave Argentina

  

  Argentina told a Roman Catholic bishop who denied the Holocaust and was reinstated to the church last month by Pope Benedict XVI to leave the country or face expulsion.

• Thursday, February 19th 2009 - 20:00 UTC

  Brazil/China sign long term oil supply and funding accord

  

  Brazil signed an agreement to supply China with 100,000 to 160,000 barrels of oil per day at market prices in exchange for a loan from the China Development Bank to help develop its huge oil reserves.

• Thursday, February 19th 2009 - 20:00 UTC

  Climate change net advances, but so loss of rain forest

  

  New releases from the United Nations Environment Programme (UNEP) this week show two sides of the human effect on climate change, with a report revealing hastened degradation of the earth's largest forest zone and the Danish city of Copenhagen becoming the 100th member of a climate-friendly network.

• Thursday, February 19th 2009 - 20:00 UTC

  Buenos Aires stock market downgraded to “frontier index”

  

  MSCI Barra a leading stock market index provider has decided to remove Argentina from its emerging market index and place it in its frontier markets index. The frontier markets index contains stocks from countries considered not sufficiently developed to be eligible for MSCI Barra's emerging markets index.

• Thursday, February 19th 2009 - 20:00 UTC

  Argentine farmers begin four day supply strike

  

  Argentine farmers will halt sales of grains and livestock in a renewed protest against a tax on commodities exports and other government agricultural policies, farm leaders confirmed on Thursday.