Stories for June 2010

Wednesday, June 16th 2010 - 04:24 UTC
Unasur fearful of overlapping with the Andean Pact and Mercosur

The Union of South American Nations (UNASUR) Secretary General Néstor Kirchner said on Tuesday he hopes for the block to “create profound policies in the region” but without overlapping on other regional organizations such as Mercosur.
Tuesday, June 15th 2010 - 05:17 UTC
Argentine pickets notified of charges for blockading bridge leading to Uruguay

The Argentine Gendarmerie following instructions from a federal judge notified Monday an estimated twenty Gualeguaychú picketers that a civil and criminal case was filed against them by the Argentine government for the roadblock of a bridge linking with neighbouring Uruguay.
Tuesday, June 15th 2010 - 05:09 UTC
UK doubling inspection and reviewing standards of drilling rigs

Britain is doubling inspection of drilling rigs after the BP oil spill, Energy Secretary Chris Huhne informed Parliament. He told MPs a review of standards had been carried out but with the beginning of exploration in deeper waters west of Shetland, “we must be vigilant”.
Tuesday, June 15th 2010 - 02:36 UTC
EU finance ministers agree on tougher regulation for the hedge fund industry

European Union finance ministers have agreed to introduce tougher regulation of the hedge fund industry. Ministers overrode objections by the new UK government and the City of London, where 80% of European funds are based.
Tuesday, June 15th 2010 - 02:32 UTC
Falklands’ oil exploration “looking at business options in Brazil”

Falkland Islands member of the Legislative Assembly Glen Ross said the Islands are interested in reaching a business agreement with Brazil for the maintenance of the oil rig currently involved in a round of exploratory drilling.
Tuesday, June 15th 2010 - 00:22 UTC
Ecuador’s new hydrocarbons bill ready for Congress, announces Correa

Ecuador President Rafael Correa said over the weekend that a new hydrocarbons bill is ready and will be sent to the National Assembly. The bill will allow the government to speed the shift from production contracts to service contracts for oil companies operating in Ecuador.
Tuesday, June 15th 2010 - 00:08 UTC
Poignant event this week in Buenos Aires between Falklands/Malvinas’ veterans

An extraordinary reunion, linked to the Falkland Islands conflict of 1982 is scheduled this week in Buenos Aires: a former paratrooper will return to an Argentine soldier the trumpet he seized from his 28 years ago.
Monday, June 14th 2010 - 23:59 UTC
UK committed to strong naval presence around the Falkland Islands

A senior Royal Navy officer stressed that the new British government remains committed to keeping a strong naval presence around the Falkland Islands, reports the Portsmouth press.
Monday, June 14th 2010 - 23:45 UTC
Greek debt downgraded to “junk”; IMF, EU audit finances and budget

Greek government bonds have been downgraded four notches to “junk” status from A3 to Ba1 by Moody's credit rating agency. The agency said Monday there was still “considerable uncertainty” surrounding the impact of measures introduced to cut the country's high budget deficit.
Monday, June 14th 2010 - 23:42 UTC
Bank of England may need to hike interest rates to combat inflation, warns banker

The Bank of England may need to hike interest rates soon as inflation has remained far stickier than expected, rate-setter Andrew Sentance warned in The Sunday Times.