Stories for June 16th 2009

Tuesday, June 16th 2009 - 13:06 UTC
Spanish banks downgraded; Madrid announces 99 billion Euros rescue fund

Moody's Investors Service on Monday cut the senior ratings of 25 Spanish banks, citing expectations of further capital pressures. As well as broader economic pressures, the banks' asset quality indicators continue to point towards a further significant deterioration, Moody's said.
Tuesday, June 16th 2009 - 13:02 UTC
Falkland Islands: New look site for holiday company

HOLIDAYING in the Falklands for both local and overseas clients has been made an even more tempting prospect, courtesy of the stunning photography and imaginative ideas on the brand new website launched by Falkland Islands Holidays.
Tuesday, June 16th 2009 - 11:12 UTC
Peru/Bolivia diplomatic rift over deadly clashes in Amazonia

Peru withdrew on Monday its ambassador to Bolivia, Fernando Rojas, in protest against Bolivian President Evo Morales calling the June 5 deaths of indigenous people in north Peru “genocide”.
Tuesday, June 16th 2009 - 11:09 UTC
Lula da Silva promises to teach lessons how to address an economic crisis

President Lula da Silva said that Brazil is overcoming the current global crisis and is in a position to teach other countries how to address the adverse economic situation.
Tuesday, June 16th 2009 - 11:04 UTC
Argentina’s glacier continues to flourish in spite of global warming

Faced with daily headlines warning of the dire repercussions of global warming and the havoc in the planet’s polar regions, it may seem like something of an anomaly that Argentina's Perito Moreno glacier has continued to flourish in the face of such ostensible environmental calamity.
Tuesday, June 16th 2009 - 11:02 UTC
Three month old baby, first A/H1N1 flu death in Argentina

Argentina confirmed Monday evening the first death caused by the A/H1N1 influenza, a three months old baby which was in intense care. Public Health minister Graciela Ocaña also revealed that four more cases out of a total 733 remain in critical condition.
Tuesday, June 16th 2009 - 10:59 UTC
The US dollar still “all mighty” for some time to come

The dollar has risen after Russian finance minister Alexei Kudrin said it would not be replaced as the world's reserve currency in the near future. Earlier in the week, Russian President Dmitry Medvedev and Chinese central bank governor Zhou Xiaochuan had both questioned the dollar's status.
Tuesday, June 16th 2009 - 10:56 UTC
US government proposes sweeping reforms to financial regulation

The US government is planning a major overhaul of the system of financial regulation to avoid future crises. The broad outlines of the plan were revealed on Monday by US Treasury Secretary Tim Geithner and White House economic adviser Larry Summers.
Tuesday, June 16th 2009 - 10:49 UTC
Mrs. Kirchner underlines “job-creation” capacity of her administration

Argentine president Cristina Fernandez de Kirchner in the midst of a tough battle to retain power in Congress in this month’s mid term election took the political debate to Switzerland where she addressed the annual meeting of the International Labour Organization, (ILO).
Tuesday, June 16th 2009 - 10:38 UTC
Sarkozy promises compensations for all Flight 447 victims families

French President Nicholas Sarkozy promised his Brazilian counterpart Lula da Silva, that all the families of the victims of the Air France 447 flight would be compensated through monetary means.