Stories for April 26th 2011

Tuesday, April 26th 2011 - 03:28 UTC
Japan begins discussion of rebuilding budget; damages cost over 300 billion USD

Japan's cabinet approved almost US$50 billion of spending for post-earthquake rebuilding, the country's biggest public works effort in six decades. The emergency budget of 4 trillion Yen, which is likely be followed by more reconstruction spending packages, is still dwarfed by the overall cost of damages caused by the March 11 earthquake and tsunami, estimated at US$300 billion.
Tuesday, April 26th 2011 - 02:53 UTC
Colombia strikes new oil well; production in March averaging 884.000 bpd

Colombia’s state-run petroleum company Ecopetrol announced the results of testing from an oil well in the south of the country with initial findings showing production levels to average 92 barrels of oil a day reported the Bogotá press.
Tuesday, April 26th 2011 - 02:50 UTC
Canada’s Barrick Gold fights to become heavy weight in copper production

Canada's Barrick Gold Corp said on Tuesday it would take a “wait and see” approach if a higher bid emerges for its offer to pay 7.3 billion Canadian dollars for Equinox Minerals.
Tuesday, April 26th 2011 - 02:44 UTC
China becomes the largest market for premium luxury Jaguar Land Rover

Jaguar Land Rover expects China to become its largest market in the next few years, according to Bob Grace, president of Jaguar Land Rover China, who said that the company aims to sell over 40,000 vehicles in China this year, which will be a significant growth of 54% over last year's 26,000 units.
Tuesday, April 26th 2011 - 02:29 UTC
Commonwealth Games in Delhi organizer arrested on corruption allegations

The chief organiser of the 2010 Commonwealth Games in Delhi has been arrested following an investigation into allegations of corruption. Suresh Kalmadi was removed from his post in January.
Tuesday, April 26th 2011 - 02:20 UTC
Pacific accord “no conflict” for Mercosur or Unasur, says Brazil

The pro-business block initiative that will be signed this week by Pacific countries leaders from Chile, Peru, Mexico and Colombia presents no potential conflict for Brazil or Mercosur said on Monday the Brazilian Foreign Affairs ministry.
Tuesday, April 26th 2011 - 01:57 UTC
Brazil needs a budget surplus and strong savings, recommends former president

It is not possible to control the value of Brazil's currency through taxes on foreign capital, former President Fernando Cardoso told the US network Consumer News and Business Channel, CNBC.
Tuesday, April 26th 2011 - 01:49 UTC
Rousseff admits she is “immensely worried” with inflation

Brazilian President Dilma Rousseff said on Monday she is “immensely worried” about inflation near the top of the official target range and that the government will act to keep prices from rising further.
Tuesday, April 26th 2011 - 01:46 UTC
Banco do Brasil moves into the US and buys Florida based bank

Latin America's largest bank by assets, Brazil's government-controlled Banco do Brasil will invest 25 million US dollars in its newly acquired U.S. operations as it continues to roll out its international expansion plan. The announcement follows the signing on Monday of a contract to buy Florida based EuroBank for 6 million US dollars.
Tuesday, April 26th 2011 - 01:34 UTC
Falklands’ Argos acquires 3-D seismic data prepares to drill late 2011, early 2012

Argos Resources Limited, the Falkland Islands based hydrocarbons exploration company, has reported that the company has completed the acquisition of 3-D seismic data over the entire area of its PL001 licence in the North Falkland Basin.