Stories for June 8th 2011

Wednesday, June 8th 2011 - 23:38 UTC
Bernanke admits US recovery is “frustratingly slow”, but will gain speed in second half

US Federal Reserve Chairman Ben Bernanke said the “frustratingly slow” US recovery warrants sustained monetary stimulus while predicting that growth will gain speed in the second half of the year.
Wednesday, June 8th 2011 - 23:32 UTC
Brazil unveils plan and incentives to boost ethanol production

Brazil's government unveiled new financing and other incentives for sugar cane ethanol production, vowing to work closely with the private sector to boost production in an industry that has struggled recently despite its immense promise.
Wednesday, June 8th 2011 - 23:20 UTC
China completes first high-speed electric train for Rio do Janeiro

China has built the first high-speed electrical train for Brazilian capital Rio de Janeiro in time for use during the 2014 World Cup Football and 2016 Olympic Games.
Wednesday, June 8th 2011 - 23:16 UTC
Brazil, India, Russia increased global proven oil reserves by 0.5% in 2010 says BP

Global proven oil reserves rose by 0.5% in 2010, boosted by increases in Brazil, India and Russia, according to British Petroleum. Deposits advanced to 1.3832 trillion barrels at the end of last year from a revised 1.3766 trillion in 2009, BP said in its annual Statistical Review of World Energy.
Wednesday, June 8th 2011 - 23:09 UTC
GM bets strongly in South American market: 1.5 million cars per annum by 2015

General Motors expects to sell 1.5 million vehicles a year in South America by 2015, up from 1.03 million last year, according to the head of the largest U.S. automaker's operations in the region.
Wednesday, June 8th 2011 - 23:03 UTC
Rocketing values for cattle in Brazil anticipate ‘beef prices will remain high’

World beef prices look set to stay high long term given the rocketing prices of raising cattle in Brazil, and the lack of an obvious successor as the world's low-cost producer.
Wednesday, June 8th 2011 - 23:00 UTC
Energy-short Argentina stocking LNG to face falling winter temperatures

Argentina will receive this week two LNG cargoes from Spain's Gas Natural as it steps up purchases to meet rising demand in the face of falling temperatures, according to Argentine state owned energy company Enarsa sources.
Wednesday, June 8th 2011 - 16:41 UTC
Argentina gas earmarked for domestic consumption, not export, says minister

Argentina won't become a natural gas exporter under the current government even if potentially massive deposits of unconventional gas turn out to more than enough to supply the domestic market, announced Planning minister Julio De Vido.
Wednesday, June 8th 2011 - 16:36 UTC
Uruguay considers China a ‘strategic partner’ and supports a Beijing-Mercosur trade accord

Uruguay sees China as a ‘strategic partner’ and has kept good relations with Beijing since the two countries forged diplomatic ties in 1988, said Uruguayan Foreign Affairs minister Luis Almagro, a former ambassador to China from 2007-2009. Almagro made the statement as Chinese Vice-President Xi Jinping begun his official visit to Uruguay.
Wednesday, June 8th 2011 - 06:40 UTC
Ban Ki-moon receives US support for his UN Secretary General second term

US President Barack Obama supports UN Secretary-General Ban Ki-moon's bid for a second term and believes he has made important reforms at an institution that is imperfect, the White House said on Tuesday.