Stories for February 26th 2010

Friday, February 26th 2010 - 19:28 UTC
Falkland Islands: Desire chief says it’s boom or bust as drilling begins

FOUR days into a drilling operation that has captured the attention of the world’s media, Desire Petroleum’s Operations Director Bob Lyons conceded: “This is it: we’re a one trick pony. It’ll either be successful or it won’t. It is very simple.”
Friday, February 26th 2010 - 16:55 UTC
China recommends US takes steps to promote confidence in the dollar

China defended its move to reduce its holdings of U.S. Treasury securities, saying the United States should take steps to promote confidence in U.S. dollar.
Friday, February 26th 2010 - 16:49 UTC
The Economist: Kirchners recipe for continued decline

Leaving aside much of the London media rhetoric about a build-up or even a possible re-edition of 1982, between Argentina and the UK over the Falklands and South Atlantic islands sovereignty, The Economist adopts a more common sense and pragmatic attitude about the controversy over oil exploration in the South Atlantic.
Friday, February 26th 2010 - 06:50 UTC
Falklands’ oil companies could be takeover targets, says financial report

United Kingdom oil and gas companies drilling near the Falklands Islands may become takeover targets this year, Deloitte & Touche LLP said in a report released Thursday in London.
Friday, February 26th 2010 - 06:39 UTC
Falklands: UK MOD denies naval incident with Argentine vessel

The British Ministry of Defence strongly denied Thursday any incident in the Falklands territorial waters involving a Royal Navy South Atlantic patrol and an Argentine Navy corvette, as reported in some London sensational media.
Friday, February 26th 2010 - 06:35 UTC
Mujica praises “strong message” from the US; plans to invite Obama to Uruguay

Uruguayan president elect Jose Mujica will hold a meeting with US Secretary of State Hillary Clinton Monday morning, before the official inauguration, and will take advantage of her presence to invite US President Barack Obama to visit Uruguay.
Friday, February 26th 2010 - 06:30 UTC
Chile’s largest copper producer increases output: first time in five years

Chile’s Codelco, the world’s largest copper producer, increased production in 2009 for the first time in five years, helped by a new mine. The company also generated an impressive surplus over the last four years.
Friday, February 26th 2010 - 06:24 UTC
Spain, Cuba’s main supporter in the EU “deeply deplores” death of dissident

Spain said it “deeply deplores” the death of Cuban dissident Orlando Zapata Tamayo and regrets that the human rights situation on the Castro brothers ruled island has led to “this very terrible outcome”.
Zapata, 42, died Tuesday at a Havana hospital after an 85-day hunger strike.
Friday, February 26th 2010 - 01:27 UTC
Peru/China free trade agreement becomes effective next March first

The free trade agreement between Peru and China becomes fully effective as of next Monday March first, according to the publication on Thursday of the official decree in Peru’s gazette. China has become Peru’s main trade partner behind the US.
Friday, February 26th 2010 - 01:23 UTC
Fed probe into Wall Street firms role in helping Greece mask debt woes

The role of Wall Street firms in deals that may have helped Greece mask its debt woes are under scrutiny in the US, the Federal Reserve chief has said. Ben Bernanke said the Fed and the US financial watchdog were “looking into a number of questions” related to banks' derivatives arrangements with Greece