Stories for May 2011

Tuesday, May 17th 2011 - 15:35 UTC
Brazilian banks and funds create company to build deep-water rigs for Petrobras

A group of Brazilian banks and funds have created a company called Sete Brasil that will build seven deep-water rigs for state-run oil company Petrobras offshore exploration campaign, Petrobras announced on Monday.
Tuesday, May 17th 2011 - 15:31 UTC
Brazil’s Vale wants to become world leader in nickel production

Brazil’s Vale, the world’s leading exporter of iron ore is moving strongly into other minerals with the opening of its first nickel operation in Onca Puma to the southeast of Pará state which is considered one of the largest ferronickel production plants in the world.
Tuesday, May 17th 2011 - 15:21 UTC
Potential candidates to succeed Strauss-Kahn as head of the IMF

Dominique Strauss-Kahn, (DSK) the head of the International Monetary Fund, may be forced to leave his post after being accused of trying to rape a maid in his New York hotel room. IMF is currently under John Lipsky Acting Managing Director.
Tuesday, May 17th 2011 - 06:05 UTC
Cuba announces small private businesses can hire and fire labour

Cuba has given all small businesses the authority to hire (and fire) labour and will loosen other regulations governing private enterprise as part of the broader measures to reform the island’s economy and boost production, the government said in a statement.
Tuesday, May 17th 2011 - 05:58 UTC
Argentina/Brazil agree to attempt dialogue to overcome latest trade dispute

Argentine Minister for Industry, Debora Giorgi will meet in coming hours with Brazilian Ambassador, Enio Cordeiro, to schedule a series of meetings to address trade disputes between the two neighbouring countries and main Mercosur associates.
Tuesday, May 17th 2011 - 05:51 UTC
China ready to increase trade and investments in Brazil but infrastructure lacking

China moved to smooth economic relations with Brazil on Monday, saying it was open to more Brazilian exports and that Chinese firms will broaden their investments in the country.
Tuesday, May 17th 2011 - 04:05 UTC
“There’s no plan B” if Cristina Fernandez does not seek re-election, says governor

A recently elected governor and very close to Argentine president Cristina Fernandez cautioned that “there is not plan B” within the ruling Victory Front if Mrs Kirchner decides not to seek re-election next week.
Tuesday, May 17th 2011 - 03:29 UTC
Organized labour ignores warnings and keeps pressure on Argentine president

Argentina’s organized labour continued Monday with its aggressive offensive to have unionist included in the pro-ruling party’s ballot tickets for next October presidential election arguing that Argentines from all walks of life have been invited to participate in politics, ‘but not union members’.
Tuesday, May 17th 2011 - 03:22 UTC
Argentina makes official October 23 as Election Day

Argentina formally announced Monday dates for the general election that will take place next October 23, when voters will choose President, Vice President, half of the Lower House and Senators from eight of 24 provinces
Tuesday, May 17th 2011 - 01:15 UTC
Budget dispute forces US to appeal to pensions’ funds to pay the country’s bills

United States reached the legal limits of its borrowing authority as a top Republican increased his party's demand for deep spending cuts as part of any increase. The remarks by Representative Paul Ryan, the top budget writer in the House of Representatives, underscored the divisions that Republicans and Democrats will have to overcome in order to raise the 14.3 trillion US dollars debt limit and avoid a default that would roil markets across the globe.