Stories for December 2010

Monday, December 6th 2010 - 07:32 UTC
Falkland Islands: Desire drilling update

Desire Petroleum plc (AIM:DES) the oil and gas company wholly focussed on the North Falkland Basin, today provides the following update on the latest logging results from the 14/15-2 Rachel North well which, following additional wireline data, will be plugged and abandoned with oil shows .
Monday, December 6th 2010 - 05:38 UTC
Wikileaks messages generate rift at Mar del Plata’s summit on education and democracy

The commitment to end illiteracy in the next five years and the overwhelming approval of a democratic clause in support of institutional democracy was the outstanding consensus of the Ibero-American leaders’ summit held in Mar del Plata hosted by President Cristina Fernandez de Kirchner.
Monday, December 6th 2010 - 05:35 UTC
Lula da Silva praised the Argentina/Brazil strategic alliance Kirchner helped forge

Brazilian president Lula da Silva praised the late Argentine president Nestor Kirchner saying he was the leader who helped Argentines recover their self-esteem and marked a historic change in relations between Brazil and Argentina.
Monday, December 6th 2010 - 05:23 UTC
EU governments’ support for financial sector 4.5 tr Euros; UK top of the list

European Union states have underwritten their financial sectors with 4.5 trillion Euros of aid since the banking crisis hit. Top of the league is the UK, which pledged 850.3bn Euros of support between October 2008 and October 2010.
Monday, December 6th 2010 - 05:17 UTC
Federal Reserve names banks that appealed to its emergency loans

The US Federal Reserve has named the companies that used its emergency loan facilities during the financial crisis and revealed how much they borrowed. Details of more than 21,000 transactions aimed at stabilising financial markets have been posted on the Fed's website.
Monday, December 6th 2010 - 05:15 UTC
Germany reaffirms commitment to Euro as markets test EU monetary union

German Finance minister Wolfgang Schaeuble said financial markets are currently testing whether the Euro zone will survive but he insisted the 16-nation monetary union won't break up. However he also warned about the risk of the emergence of an anti-Euro party.
Sunday, December 5th 2010 - 23:54 UTC
“All is possible” regarding President Lula da Silva comeback in 2014

Brazilian president Lula da Silva who steps down next January first could run for a third mandate in 2014, according to cabinet Secretary general Gilberto Carvalho.
Sunday, December 5th 2010 - 23:35 UTC
Paraguayan leader calls Senate to vote Venezuela’s incorporation to Mercosur

President Fernando Lugo called on the Paraguayan political establishment “not to identify Venezuela with President Hugo Chavez” and reiterated support from lawmakers to vote for the incorporation of Venezuela as a full member of Mercosur.
Sunday, December 5th 2010 - 19:29 UTC
Business deals “above 600 million USD” in Chile’s naval and maritime expo

The recent Exponaval 2010 and Transport 2010 exhibit held in the Chilean port of Valparaíso was described as a complete success by the organizers of the event that convened over 150 exhibitors, 34 foreign navies’ delegations and totalling business deals “above 600 million US dollars”.
Sunday, December 5th 2010 - 16:33 UTC
Drastic budget cuts anticipated if Brazil is to consolidate 3.3% of GDP surplus

The incoming Brazilian administration next January first will have to implement a tougher program of savings than President Lula da Silva in 2003 if the primary budget surplus is to consolidate at 3.3% of GDP in 2011, according to economists from the prestigious think-tank Getulio Vargas Foundation, FGV.