Stories for 2009

Wednesday, March 25th 2009 - 07:56 UTC
China suggests new global reserve currency to replace US dollar

China's central bank has called for a new global reserve currency run by the International Monetary Fund to replace the US dollar. Central bank governor Zhou Xiaochuan did not explicitly mention the dollar, but said the crisis showed the dangers of relying on one currency.
Wednesday, March 25th 2009 - 07:54 UTC
Geithner, Bernanke reject suggestions to replace the US dollar as global currency

Unites States Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke dismissed on Tuesday suggestions by leading emerging economies that the global economy move away from using the dollar as the main reserve currency.
Wednesday, March 25th 2009 - 07:49 UTC
Abu Dhabi sovereign fund takes over 9.1% stake of Daimler-Benz

German car and trucks manufacturer Daimler- Benz sold a 9.1% stake to an Abu Dhabi sovereign investment fund. The fund, Aabar Investments, will invest 1.95 billion Euros becoming the biggest shareholder.
Wednesday, March 25th 2009 - 05:31 UTC
Bolivia’s President Says Quest for Coast Threatened by Peru-Chile Dispute

President Evo Morales confirmed on Monday that Bolivia’s drive to regain at least a portion of the Pacific coastline it lost in a 19th-century war could be harmed by Peru’s litigation with Chile over those nations’ maritime boundary.
Wednesday, March 25th 2009 - 03:24 UTC
Gibraltar wins Seatrade Cruise Shipping award

The Gibraltar Cruise Terminal has won an award at the Seatrade Cruise Shipping convention held in the US city of Miami last week. Gibraltar received the 2008 award for the “Most Efficiently Managed and Operated Cruise Terminal in the Mediterranean”.
Wednesday, March 25th 2009 - 03:21 UTC
Chile invests in ports to boost cruise ship tourism

Chile's Ministry of Public Works (MOP) recently launched a 15.5 million US dollars plan to build infrastructure in five of the country’s ports to allow cruise ships (some over 300 meters long) to dock in Easter Island and the Patagonia.
Tuesday, March 24th 2009 - 13:43 UTC
Brazil’s future as emerging power “linked to regional situation”

Brazil’s future as an emerging power is closely linked to the regional situation according to President Lula da Silva’s international affairs advisor Marco Aurelio García.
Tuesday, March 24th 2009 - 13:42 UTC
Tall ships regatta scheduled to call in Punta Arenas next summer

A tall ships regatta to commemorate the 200 anniversary of Chile’s independence from colonial Spain has been organized for the summer of 2010. The idea is similar to that of the United States in 1976, when tall ships from all over the world gathered for the bicentennial.
Tuesday, March 24th 2009 - 13:28 UTC
Obama’s chief economic advisor slams back at Krugman

US President Barack Obama's chief economic adviser Monday beat back recent criticism, from liberal economist Paul Krugman over the administration's latest bank rescue plan, telling CNN Krugman was too quick to pass judgment.
Tuesday, March 24th 2009 - 13:26 UTC
EC expected to act on countries swelling budget deficits

The European Commission is expected to set deadlines on Tuesday for France, Greece, Ireland, Spain and the UK to rein in their swelling budget deficits. Under EU rules, countries are expected to keep their budget shortfalls below 3% of gross domestic product (GDP).