Stories for November 2009

Thursday, November 5th 2009 - 09:51 UTC
Petrobras receives Chinese financing to develop sub-salt oil resources

Brazil's government managed oil and gas group Petrobras announced Wednesday it had signed a contract permitting the first payment from a 10 billion US dollar loan from China to help it finance upcoming investments.
Thursday, November 5th 2009 - 08:27 UTC
Fed leaves rates unchanged and admits businesses are still “cutting back”

The Federal Reserve Open Market Committee kept US interest rates on hold at between 0% and 0.25%, as had been widely expected. Despite the US economy growing 3.5% in July to September - its first expansion since June 2008 - rates were left unchanged on Wednesday to further aid the recovery.
Thursday, November 5th 2009 - 08:21 UTC
Squid landings in Argentine ports down 74% to 65.983 tons

Fisheries landings in Argentine ports during the first ten months of the year were down 31% to 576,623.7 tons (from 832.655 tons) mainly because of the significant decline in squid catches.
Thursday, November 5th 2009 - 07:21 UTC
US dollar falls to lowest rate in a year vis-à-vis the Chilean Peso

The US dollar fell to an exchange rate of Chilean Pesos 528 on Tuesday, the lowest rate since September 2008, a tendency confirmed in Wednesday’s trading. Since the beginning of 2009, the dollar has fallen 113 Chilean pesos.
Thursday, November 5th 2009 - 06:30 UTC
The Secret of Prosperity is Freedom

By Michael Magan (*)
On economic policy, Latin American leaders face a basic choice: Adopt old style government-heavy populism championed by Venezuelan president Hugo Chavez, or the market-friendly reforms instituted in countries like Brazil, Peru, and Chile?
Thursday, November 5th 2009 - 06:20 UTC
Interpol suggests mediation between Argentina and Iran over terrorist attack

France based Interpol proposed Argentine and Iranian authorities meet at Interpol's General Secretariat Headquarters in Lyon, central-south France, to unlock the judicial stalemate of the 1994 AMIA terrorist bombing in Buenos Aires.
Thursday, November 5th 2009 - 06:13 UTC
Bailing out UK banks has cost each British family £ 4.350 claim Tories

The British government’s plan to pump a further £25.5 billion of taxpayers’ money into Royal Bank of Scotland means the cost of the banking bailout has reached £4,350 for every family in the UK.
Thursday, November 5th 2009 - 05:51 UTC
Strict cuts and rules for British MPs allowances

British Members of Parliament should no longer be able to claim for their mortgages or employ family members at the taxpayers' expense, the long-awaited report by the standards watchdog has said.
Thursday, November 5th 2009 - 05:42 UTC
Chinese company buys oil assets in the US for the first time

Chinese energy giant China National Offshore Oil Corporation (CNOOC) has bought oil assets in the US for the first time. CNOOC purchased limited stakes in four deepwater exploitation licences in the Gulf of Mexico from Norway's Statoil. The size of the deal is secret, but Statoil said it was small.
Thursday, November 5th 2009 - 05:34 UTC
GM decision to hang on to European subsidiaries triggers controversy

General Motors decision to hang on to its European car unit Opel including Vauxhall in Britain, was welcomed in the UK but met with anger in Germany. Unite union chief Tony Woodley, a former Vauxhall worker, hailed the news as a “fantastic decision”.