Stories for February 11th 2010

Thursday, February 11th 2010 - 19:16 UTC
Barclays’, Argentina’s debt swap operator accused of oil interests in Falklands

Two Argentine solicitors announced they will be pressing criminal charges against the Ministry of Economy for having contracted Britain’s Barclays’ bank for a major sovereign defaulted bonds swap and this financial institution is “a shareholder of Desire Petroleum, the oil company which is poised to begin exploration operations this month in Malvinas waters”.
Thursday, February 11th 2010 - 18:20 UTC
France and Germany committed to assist Greece with debt problems

European Union leaders meeting in Brussels agreed on Thursday to assist Greece with its debt problems, though EU President Herman Van Rompuy offered no details as to what that will entail.
Thursday, February 11th 2010 - 18:11 UTC
Growing interest of Indian companies in investing in Latinamerica

More Indian companies are looking to do business in Latinamerica as they seek exposure to growing markets and a more secure investment destination, according to The Wall Street Journal.
Thursday, February 11th 2010 - 18:08 UTC
Argentina blocks vessel involved in Falklands operations

Argentina blocked Wednesday a ship from leaving a Techint Group plant after it traveled to the Falkland Islands without government permission, the Argentine Foreign Office said. The “Thor Leader” is docked in Techint’s Campana plant carrying a cargo of 7.099 tons seamless pipes, the government office said in a statement.
Thursday, February 11th 2010 - 03:34 UTC
EU summit to address how to save Greece from default

The European Union (EU) first full-time President Herman Van Rompuy will chair an informal summit on Thursday to draw an economic blueprint for the bloc for 2020. The meeting is also devoted to addressing some immediate challenges, such as record high unemployment and the possible-default crisis in Greece potentially extending to other members.
Thursday, February 11th 2010 - 03:25 UTC
Mrs. Kirchner and farmers clash over soaring meat prices

Argentine President Cristina Fernández de Kirchner admitted that “meat prices have risen dramatically” (30 to 40%) but immediately blamed the “farming sector” and its obsession “to be more profitable” as the main reason behind the price escalade.
Thursday, February 11th 2010 - 03:24 UTC
Argentine High Court reluctant to be involved in central bank reserves dispute

A member of the Argentine Supreme Court suggested that the high court may reject a government appeal that could open the way for the government of President Cristina Fernandez de Kirchner to pay debts with Central bank reserves.
Thursday, February 11th 2010 - 03:16 UTC
Bernanke announces Fed ready to remove liquidity and prepare for rate hikes

The Federal Reserve could begin pulling back its unprecedented stimulus for the US economy by first removing some cash from the financial system and then raising interest rates, Fed Chairman Ben Bernanke said.
Thursday, February 11th 2010 - 03:12 UTC
Long live the strong man for he faces three major challenges

Former Argentine President Nestor Kirchner left the hospital three days after emergency surgery on an carotid artery that feeds blood to his brain, which was described by the medical staff as “serious and intervened on time”.
Thursday, February 11th 2010 - 03:07 UTC
China imports soar 86% in Jan; 2009 US trade deficit, smallest in eight years

China's exports and imports grew substantially in January year on year. This suggested that global demand for Chinese made goods is continuing and Chinese consumers are spending too: imports soared 86%, according to Beijing figures.