MercoPress. South Atlantic News Agency
Stories for March 19th 2009
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Thursday, March 19th 2009 - 16:34 UTC
UN pushes for ratification of global pact outlawing cluster bombs
The pace of the ratification of a global pact outlawing cluster bombs must be accelerated to relegate the deadly weapons “to the pages of history,” Deputy Secretary-General Asha-Rose Migiro said Wednesday.
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Thursday, March 19th 2009 - 16:30 UTC
World Bank forecasts China to expand 6.5% in 2009
The World Bank estimates China's gross domestic product for 2009 will be 6.5%, falling short of China's own prediction of 8% growth for the year. Still, the World Bank says China's economy is holding up relatively well and it sees plenty of room for the government to implement effective stimulus measures.
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Thursday, March 19th 2009 - 16:22 UTC
Saudis warn of “catastrophic” oil supply crunch in near future
Saudi Arabia's oil minister Ali al-Naimi warned Wednesday of a possible “catastrophic” energy supply crunch without prompt investment. The minister said the ideal price for oil lies between 60 and 75 US dollars a barrel.
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Thursday, March 19th 2009 - 16:12 UTC
AIG chief admits “distasteful” excesses but points to the Fed
The boss of US insurer AIG has called the bonuses paid to executives “distasteful” and said he asked some recipients to return at least half. But Edward Liddy said the Federal Reserve knew in November of the 165 million US dollars bonus payments to executives that have caused such a furore in US.
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Thursday, March 19th 2009 - 16:09 UTC
IDB forecasts decline of remittances to Latam
After almost a decade of growth, remittances to Latinamerica and the Caribbean are likely to decline in 2009 for the first time since the Inter-American Development Bank, IDB, started tracking these flows in the year 2000. Remittances have been decreasing since late 2008.
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Thursday, March 19th 2009 - 16:06 UTC
Federal Reserve will buy 1.2 trillion USD of debt to boost lending
The US Federal Reserve said on Wednesday it will buy almost 1.2 trillion US dollars worth of debt to help boost lending and promote economic recovery. The US central bank said it would start buying long-term government debt and expand purchases of mortgage-related debt.
