Stories for 2010

Saturday, September 25th 2010 - 05:06 UTC
Uruguay raises basic rate; gives priority to inflation target

Uruguay’s central bank raised on Friday its overnight lending rate to 6.5% from 6.25% as inflation expectations are above the target range of 4% to 6%. The decision took the market by surprise since exporters have been asking for a stronger US dollar, but the Economy ministry said “it did not visualize a loss of competitiveness”.
Saturday, September 25th 2010 - 05:02 UTC
FAO emergency meeting to address soaring prices of cereals

Experts from more than 75 FAO Member States agreed Friday that while there were no grounds for complacency, there was no indication of an impending world food crisis. They proposed exploring new measures to check food price volatility and manage associated risks.
Saturday, September 25th 2010 - 04:57 UTC
Chilean government cornered by Day 75 of Mapuche hunger strike

There is no resolution in sight for the Chilean indigenous Mapuche hunger strike. On Day 75, the health of the 34 prisoners is in danger. Eight have been hospitalized, with one needing surgery for appendicitis.
Saturday, September 25th 2010 - 03:14 UTC
Falklands Desire raises an extra £ 22.8 million for further oil seismic surveying

Desire Petroleum (AIM:DES), one of the Falkland Islands oil exploration companies announced Friday it had successfully placed 16,294,600 shares at 140 pence each raising £22.8 million before expenses.
Saturday, September 25th 2010 - 03:05 UTC
Technical constraints limit Falklands’ oil well flow test to 2.000 bopd

Rockhopper Exploration said that during the testing of its Sea Lion well in the Falkland Islands, problems limited the amount of oil extracted to just an average of 2000 barrels per day (bopd). Otherwise, it could have produced sustained rates of at least double that, at 4000 bopd, “without these constraints”.
Saturday, September 25th 2010 - 03:01 UTC
Brazil’s oil prospects break all records of share placing: 70 billion US dollars

Brazil's government managed oil and gas company raised 70 billion US in the world's biggest-ever share offering Thursday. The success of Petrobras issue showed the extent of investor interest in Brazil's massive offshore oil reserves, one of the world's fastest-growing regions for energy production.
Friday, September 24th 2010 - 23:40 UTC
Cristina blasts UK and UN Security Council for lack of progress in Falklands/Malvinas

Addressing the United Nations General Assembly on Friday, President Cristina Fernandez de Kirchner criticized the British government for continuing to ignore Argentina's request for sovereignty talks over the Falklands/Malvinas Islands.
Friday, September 24th 2010 - 07:07 UTC
Venezuela’s Communes: Not as Radical as You Might Think

by COHA Research Associate Geoff LeGrand - Under President Hugo Chávez, Venezuela has been no stranger to controversy. However, one of Chávez’s proposals has evoked particularly strong emotions – the establishment of socialist communes (comunas socialistas) throughout the country. The proposed commune law (ley orgánica de las comunas) would further expand and institutionalize Venezuela’s system of communal councils – local municipal governing bodies that are ruled by neighborhood leaders using state funds to finance social projects in their communities.
Friday, September 24th 2010 - 05:49 UTC
Falklands, Iran, Palestine, issues of Mrs Kirchner address to UN assembly

Renewed Falkland Islands claim, reformulation of international organisms, Iran and Palestine are among the issues that Argentine president Cristina Fernandez de Kirchner will be addressing in her speech before the UN 65th General Assembly on Friday, according to Argentine diplomatic sources.
Friday, September 24th 2010 - 05:12 UTC
Uruguay marks distance from Argentina: UK does not come to plunder resources

Uruguayan president Jose Mujica marked distance from Argentina’s Cristina Kirchner and said that denying clearance to a Falkland Islands bound British destroyer to call in Montevideo was based on previous decisions on the issue and “not in a defence of interests against the UK”, reports the local daily Ultima Noticias.