Stories for February 2009

Tuesday, February 24th 2009 - 20:00 UTC
Implementation of Chilean stimulus plan boosts Peso

The Chilean peso surged on Tuesday following the announcement the government would sell US dollars on the local market to finance a massive fiscal stimulus package. The peso closed at 603.30/603.80 per dollar compared to Monday's 624.00/624.50 per dollar.
Tuesday, February 24th 2009 - 20:00 UTC
Dakar Rally will again be hosted by Argentina and Chile

The Chilean government confirmed this week that Chile and Argentina will again be co-hosting the 2010 edition of the Dakar Rally which for the first time took place this summer in both South American countries including the crossing of the mighty Andes cordillera.
Tuesday, February 24th 2009 - 20:00 UTC
Madrid makes formal protest over royal visit to Gibraltar

Spain has complained officially to Britain over next week's visit of Princess Anne to Gibraltar, labelling it as “inopportune” reported Tuesday the Gibraltar Chronicle. The Princess Royal is due to open a medical centre named after her but which Spain says is particularly sensitive to them because it is on “the disputed isthmus”.
Tuesday, February 24th 2009 - 20:00 UTC
Mercosur members can't agree on consensus for G20

Mercosur Standing Secretary General Carlos Alvarez admitted it was difficult for the South American trade group to unify positions because “some countries see the global crisis as something distant”.
Tuesday, February 24th 2009 - 20:00 UTC
Buenos Aires Mayor wants to “re-establish relations with UK”

Argentina is isolated internationally and “we want to re-establish relations with Britain and with the rest of the countries of the world” said Buenos Aires city mayor Mauricio Macri currently on a three day visit to London.
Tuesday, February 24th 2009 - 20:00 UTC
World Bank downgrades Latam 2009 growth to 0.3%

Latinamerican growth will plunge strongly this year to 0.3% forecasted Pamela Cox, World Bank vice-president for Latinamerica and the Caribbean. Last September the WB forecast was 2.7%, in January it was down to 1% and now 0.3%.
Monday, February 23rd 2009 - 20:00 UTC
Message to Beijing: keep investing in US Treasury bonds

United States Secretary of State Hillary Clinton offered a quiet nod to human rights but there was no mistaking her key message to Beijing at the end of her week-long in Asia: both countries will “rise and fall” together in this financial crisis.
Monday, February 23rd 2009 - 20:00 UTC
Scathing attack on banking practice from Soros and Volcker

Investor George Soros and President Barack Obama advisor, Paul Volcker described the current global meltdown as more severe than when the great Depression with the financial system effectively disintegrated and with the experts “not quite knowing what's going on”.
Monday, February 23rd 2009 - 20:00 UTC
European leaders agree to regulate all financial markets

European leaders in Berlin have agreed on the need to regulate all financial markets including hedge funds and underlined that a global solution was needed to the current financial crisis.
Monday, February 23rd 2009 - 20:00 UTC
Canadian Coast Guard rescues crew from sunken Spanish trawler

A Canadian Coast Guard vessel rescued on Sunday 22 fishermen from the frigid waters off Newfoundland on Sunday after the Spanish trawler Monte Galineiro caught fire and later sank.