MercoPress. South Atlantic News Agency
Stories for June 12th 2009
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Friday, June 12th 2009 - 18:02 UTC
Bleak prospects for poor countries with global contraction of 3%
The world economy is set to contract this year by more than previously estimated, and poor countries will continue to be hit hard by multiple waves of economic stress, said World Bank Group President Robert B. Zoellick.
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Friday, June 12th 2009 - 17:56 UTC
Brazil slashes basic interest rate to help reverse recession
The Brazilian Central Bank slashed its Selic benchmark interest rate to a record low of 9.25% seeking to bolster spending and reverse recession in Latinamerica's largest economy. The one percentage point cut was the fourth reduction in as many months as policymakers struggle with the impact of the global economic slowdown.
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Friday, June 12th 2009 - 17:44 UTC
Lan Chile changing the controversial speed sensors of its Airbus fleet
Chile’s flag carrier began changing the airspeed sensors in all its Airbus planes following on the steps of Air France’s decision as a consequence of the loss of flight 447 in the Atlantic Ocean with 228 people on board.
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Friday, June 12th 2009 - 17:39 UTC
HMS Gloucester sets off for the South Atlantic
The Portsmouth warship HMS Gloucester has been given a royal send-off ahead of her deployment to the South Atlantic.
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Friday, June 12th 2009 - 17:36 UTC
Global flu pandemic but no A/H1N1 vaccines until September
The World Health Organization (WHO) declared on Thursday a global flu pandemic after holding an emergency meeting. This means the influenza A/H1N1 virus is spreading in at least two regions of the world with rising cases being seen in the UK, Australia, Japan and Chile.
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Friday, June 12th 2009 - 17:29 UTC
Chinese imports in May dropped 25% and exports 26%
Chinese exports dropped by a record amount in May as demand for its goods from the US and Europe slumped. Exports fell 26.4% from the same month earlier, more than February's previous record drop and imports declined by 25.2%.
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Friday, June 12th 2009 - 17:23 UTC
Ecuador celebrates sovereign “defaulted” bonds repurchase
Ecuador announced Thursday it had bought back 91% of its “defaulted” bonds via an international auction with drastic rebates of 65% to 70%. The amount involved in the operation was 3.37 billion US dollars.
