Stories for December 7th 2010

Tuesday, December 7th 2010 - 20:26 UTC
Paraguay will not attend Mercosur summit if Argentina doesn’t lift fluvial blockade

Landlocked Paraguay has called on Argentina to put an end to the blockade of Paraguayan maritime agencies which has virtually cut the country’s foreign trade. Paraguayan Foreign Affairs minister Hector Lacognata also revealed that if the month-long issue is not solved in the next few days, “Paraguay will be absent from the coming Mercosur summit December 15”.
Tuesday, December 7th 2010 - 19:33 UTC
Brazil’s multi-billion jet fighter purchase will be decided by Dilma Rousseff

Brazilian President Lula da Silva has said he will not make a decision on a multi-billion-dollar jet fighter purchase before stepping down on January 1, state media reported.
Tuesday, December 7th 2010 - 19:27 UTC
Lula da Silva promises to veto bill on oil royalties sharing plan

Brazilian President Lula da Silva said on Tuesday he would veto a plan to change the distribution of oil royalties among state governments, paving the way for the implementation of a legal overhaul of Brazil's oil sector.
Tuesday, December 7th 2010 - 18:50 UTC
HSBC sued 9 billion USD by Maddoff’s investment liquidation trustee

The trustee for the liquidation of Bernard Madoff's investment firm is suing HSBC for 9 billion USD. Irving Picard, who is seeking to recover funds on behalf of Madoff's victims, is alleging 24 counts of fraud and misconduct against the bank.
Tuesday, December 7th 2010 - 18:46 UTC
US Treasury admits making 12 billion profit with Citigroup rescue package

The US Treasury has sold its remaining stake in Citigroup, in a deal which it says will make a 12 billion USD profit on its overall investment. Citigroup was one of the worst victims of the financial crisis, and the US government stepped in with 45 billion bail-out cash in 2008 and 2009.
Tuesday, December 7th 2010 - 18:38 UTC
EU ministers agree food labelling with nutritional content shown on packaging

European Union Health and Consumption ministers have agreed rules that will require the nutritional content of food to be shown on packaging.
Tuesday, December 7th 2010 - 17:08 UTC
European countries can’t influence UK Falklands’ decisions, admits Spain

In spite of the fact that the Ibero-American leaders’ summit last weekend in Mar del Plata approved a document in support of Argentina’s sovereignty claims over the Falklands/Malvinas and other South Atlantic islands, Spain admitted European countries can not influence London’s decisions.
Tuesday, December 7th 2010 - 08:36 UTC
Chavez wins regional elections but loses second most populated city, Maracaibo

Candidates from Venezuelan President Hugo Chavez’s party PSUV won seven municipalities and one state in regional polls, the populist socialist leader’s first test since suffering a setback in September legislative elections, state television reported.
Tuesday, December 7th 2010 - 08:29 UTC
Chinese credit rating agency gives Uruguay grade BB+ for local and foreign currency

A Chinese credit rating agency issued the sovereign credit ratings for Ireland and four other countries including Uruguay, assigning Ireland the BBB grade for both local currency and foreign currency with a stable outlook.
The other four countries rated are Finland, Uruguay, Kenya and Sudan.
Tuesday, December 7th 2010 - 08:21 UTC
Bank of Nova Scotia confirms acquisition of leading institution in Uruguay

Bank of Nova Scotia, the Canadian bank that is aggressively expanding its presence in Latin America, is now pushing into Uruguay with the acquisition of private bank Nuevo Banco Comercial and consumer-finance company Pronto, it said on Monday.