Stories for May 2010

Wednesday, May 5th 2010 - 06:07 UTC
Obama Administration Pushes for Fee on Large Banks to Pay for Bailouts

United States big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, US Treasury Secretary Timothy Geithner told lawmakers as he sought support for the proposal.
Wednesday, May 5th 2010 - 06:03 UTC
IMF Anticipates Good Prospects for Argentine Defaulted Bond Swap

Given the high levels of global liquidity, Argentina should succeed in restructuring its 20 billion US dollars in defaulted bonds according to a senior official from the International Monetary Fund.
Wednesday, May 5th 2010 - 06:00 UTC
Argentine Dictatorship Former Economy Minister Arrested Accused of Kidnapping

Former economy minister José Martínez de Hoz, the economic brains behind the 1976-1983 military dictatorship, has been arrested and transferred to a clinic after an amnesty law was lifted, a court official has said.
Wednesday, May 5th 2010 - 05:58 UTC
Chile Moves to Regulate and Permit Cultivation of GM Crops

Chilean Agriculture Ministry José Antonio Galilea announced this week plans to introduce legislation to regulate and permit the cultivation of genetically modified (GM) crops in Chile.
Wednesday, May 5th 2010 - 02:54 UTC
Argentina with the Highest GDP Per Capita PPP in 2009

Argentina became the richest country in Latin America in 2009 as measured by GDP per capita purchasing power parity, PPP, according to a Latin Business Chronicle analysis based of new data from the International Monetary Fund.
Wednesday, May 5th 2010 - 02:51 UTC
Argentine Government Thwarts Pulp Mill Activists Heading for UNASUR Summit

In what was considered a change in approach by the Argentine Government, several minivans and cars with Gualeguaychú activists that were heading to the UNASUR summit in Campana, Buenos Aires province, were delayed Tuesday by police at a crucial inter-provincial bridge.
Wednesday, May 5th 2010 - 02:49 UTC
EU Wants to Reactivate Negotiations with Mercosur for Association Agreement

The European Commission (EC) has proposed to reactivate its negotiations with Mercosur, stagnant since 2004, with the objective of reaching an association agreement. In its weekly meeting, the EU executive decided to re-establish discussions with Mercosur since it considers “that an eventual pact could generate economic benefits for both parts,” according to an EC communiqué.
Wednesday, May 5th 2010 - 02:06 UTC
Brazil to Announce Exports’ Stimuli Measures to Compensate for Strong Real

The Brazilian Government is expected to announce Wednesday a number of exports' stimulation measures in order to try to compensate the area which claims losses caused by the strong Brazilian currency exchange rate and the drop of global commerce.
Wednesday, May 5th 2010 - 01:27 UTC
Cuba Fires Ministers, Considers Opening Sugar Industry to Foreign Investors

Cuban President Raúl Castro replaced two high-level government ministers citing errors and incompetence, in the latest round of replacements at top-level government posts. There are also signs that Cuba might turn the sugar industry to foreign investment.
Wednesday, May 5th 2010 - 01:03 UTC
Two Royal Navy Nuclear Subs Allowed to Sea with “Serious” Potential Risk

Two Royal Navy nuclear submarines were allowed to sea with a safety defect putting the vessels at “serious” potential risk, it was revealed.