Stories for May 12th 2010

Wednesday, May 12th 2010 - 22:15 UTC
Spain Under Pressure from Europe Unveils Drastic Cuts to Contain Budget Crisis

Under pressure from Europe to deliver (shape up or ship out) Spain's PM has outlined a plan to tackle the country's budget crisis, amid concerns that problems afflicting Greece may spread across the Eurozone.
Wednesday, May 12th 2010 - 21:57 UTC
Santos Promises More Uribe and Retakes Lead in Colombian Presidential Campaign

With less than three weeks to Colombia’s May 30 presidential election, the incumbent candidate Juan Manuel Santos has recovered lost ground and the surprise hopeful Antanas Mockus with his “green tide” has fallen back with opinion polls showing a technical draw.
Wednesday, May 12th 2010 - 19:43 UTC
Mexicans and Argentines Among the Happiest People, said Index

Mexicans and Argentines are among the happiest people, according to a Happiness Barometer Index tested in 16 countries which also confirmed that face-to-face time spent with friends and family makes people happier than socializing online.
Wednesday, May 12th 2010 - 18:58 UTC
Healthy Surplus in South Georgia Finances, Spurred by Fishing, Tourism and Stamps

The financial statements from the government of South Georgia and South Sandwich Islands ending December 2008 show a healthy surplus with fisheries licences, tourism and stamps, the three main sources of revenue.
Wednesday, May 12th 2010 - 18:44 UTC
Colombia the Rising Star of the Oil Industry in South America

Colombian Oil Company Ecopetrol (NYSE:EC) said this week it broke an 11-year-old export record in April, selling 403,510 barrels per day (bpd) of crude oil and refined products to foreign clients.
Wednesday, May 12th 2010 - 18:42 UTC
Construction Activity Picks up in Chile for the First Time Since December 2008

Construction activity increased for the first time since December 2008, according to the Monthly Construction Activity Index (Imacon) released by the Chilean Chamber of Construction this week. The Index shows an increase of 1.4% from March 2009 to March 2010, reflecting a rise in employment and demand.
Wednesday, May 12th 2010 - 07:18 UTC
Chile’s Piñera to Address Business Leaders Previous to Latam/EU Summit

Chile’s president Sebastian Piñera has a busy schedule planned for the upcoming Latin America, the Caribbean and the European Union Summit scheduled for Madrid early next week. Piñera will use the opportunity to explain exactly what he wants to do with his four years of presidency.
Wednesday, May 12th 2010 - 07:16 UTC
China April Inflation Accelerates and Property Prices Jump 12.8%

April inflation in China has accelerated as bank lending exceeded estimates and property prices jumped by a record, increasing pressure on the government to raise interest rates and let the currency appreciate.
Wednesday, May 12th 2010 - 07:09 UTC
World Markets Lower After Taking a Second Look at Euro Rescue Plan

United States shares closed lower on Tuesday as global stock markets stalled on niggling worries over European debt problems. On Wall Street, the Dow Jones index closed down 0.34% following a turbulent day's trading, and a nearly 4% rise on Monday.
Wednesday, May 12th 2010 - 07:07 UTC
Uruguayan Government Raises 2010 Economic Growth Forecast to 5.1%

Uruguay’s government raised its 2010 economic growth forecast and said it will focus on health programs, security and infrastructure to maintain expansion of at least 4% annually, Economy Minister Fernando Lorenzo said.