Stories for November 24th 2010

Wednesday, November 24th 2010 - 22:12 UTC
Petrobras abandons Ecuador: no agreement on new oil contracts

Brazil’s Petrobras is abandoning Ecuador after not having reached an agreement on the new oil contracts with the government while Spanish-Argentine Repsol-YPF will remain, announced Minister of Non renewable natural resources Wilson Pastor.
Wednesday, November 24th 2010 - 21:21 UTC
Falklands/Malvinas: Brazil joins Argentina in criticizing UK’s “unilateral actions”

The Brazilian government questioned UK’s “unilateral actions” regarding the (Falklands) Malvinas Islands and called for the sovereignty “long standing dispute” to reach “as soon as possible a solution”.
Wednesday, November 24th 2010 - 21:02 UTC
Promoting trade and political links with Africa, Lula da Silva’s next job

A Lula da Silva Institute will be fully involved in Africa, the world’s poorest continent, and (Brazilian) President Lula will be fully dedicated to that task when he steps down from office next January first, announced a top Brazilian official.
Wednesday, November 24th 2010 - 20:55 UTC
US on the path of Japan’s stagflation of 18 years ago, says Nobel Prize

Economics 2008 Nobel Prize Paul Krugman said the United States is heading along a path of stagnation and deflation similar to that of Japan 18 years ago given the critical economic situation and the uncertain political scenario following the recent mid term elections that brought to Congress diehard Republicans.
Wednesday, November 24th 2010 - 20:50 UTC
Colombian oil industry booming; Ecopetrol plans 8.5 billion investments

Colombian state oil company Ecopetrol announced investments of roughly 8.5 billion US dollars in 2011, with 5% of that total to be allocated for projects in the United States, Brazil and Peru.
Wednesday, November 24th 2010 - 20:21 UTC
IMF mission arrives in Buenos Aires first week of December

The International Monetary Fund confirmed Argentina’s request for technical assistance on the elaboration of a Consumer Price Index (CPI). In a statement release by Nicolas Eyzaguirre, Director of the Western Hemisphere Department added “we are currently in contact with the authorities on planning the missions”.
Wednesday, November 24th 2010 - 20:17 UTC
Rousseff confirms flexible-orthodox Tombini to head Brazil’s central bank

Brazilian president-elect Dilma Rousseff press office announced Thursday that economist Alexandre Tombini will be the next president of the central bank; economist Guido Mantega will continue as Finance minister and engineer Miriam Belchoir coordinator of PAC (program to bolster growth) will become Planning and Budget minister.
Wednesday, November 24th 2010 - 20:03 UTC
Irish government slashes benefits and raises taxes: VAT 24%

The Irish government has unveiled a range of tough austerity measures designed to help solve the country's debt crisis. Among the spending cuts and tax rises are a reduction in the minimum wage, a new property tax and thousands of public sector job cuts.
Wednesday, November 24th 2010 - 19:57 UTC
Final journey for a HMS Ark Royal formation of Harrier jump jets

A formation of Harrier jump jets has made their final journey from HMS Ark Royal - the last such flight from a UK aircraft carrier for about 10 years. The four GR9 jets marked the end of an era when they roared off the deck near North Shields, North Tyneside. Both the Ark Royal and the Harriers are being scrapped under cost-saving plans.
Wednesday, November 24th 2010 - 15:38 UTC
Exports help UK economy expand but tight budget contracts domestic demand

United Kingdom’s export growth helped the economy extend its recovery in the third quarter as growth in consumer, government and investment spending slowed by more than half. GDP rose 0.8% from the previous three months, when it increased 1.2%, the Office for National Statistics said Wednesday in London.