Stories for June 9th 2011

Thursday, June 9th 2011 - 19:24 UTC
Brazil hikes basic rate to 12.25% and further increases can be expected

Brazil's central bank increased late Wednesday its benchmark interest rate for the fourth straight meeting after consumer prices exceeded the upper limit of its target range for the first time since 2005.
Thursday, June 9th 2011 - 19:18 UTC
Euro central bank expected to increase interest rates next month

The European Central Bank (ECB) has signalled that it will raise interest rates next month, from 1.25%. Earlier on Thursday, the ECB kept rates unchanged for the second month in a row, after increasing them in April for the first time in almost two years.
Thursday, June 9th 2011 - 14:19 UTC
Montevideo and Buenos Aires flights cancelled as ash cloud remains over the area

Flights from Uruguay’s main international airport Carrasco and from Buenos Aires busiest air terminals have been cancelled Thursday until further notice because of the volcanic ash cloud which again is hovering over the River Plate as winds have changed.
Thursday, June 9th 2011 - 08:56 UTC
Uruguayan government divided over implementation of a new tax on farmland

The Uruguayan government is trying to decide how to implement a controversial new tax on land holdings involving approximately 60 million dollars per annum and which has exposed deep differences in the ruling coalition, is rejected by farmers and feared by investors.
Thursday, June 9th 2011 - 08:36 UTC
Oil company confirms Falklands drilling and farm-out accord in coming months

Falkland Oil & Gas confirmed on Wednesday drilling operations will begin in the first quarter of 2012 and revealed it is in early talks with firms interested in taking part in its exploration program south of the Falkland Islands. The company however anticipated it did not expect to conclude any farm-out agreement until later this year.
Thursday, June 9th 2011 - 05:52 UTC
Ousted Palocci takes his job as member of Petrobras administration council

Antonio Palocci, who on Tuesday stepped down as President Dilma Rousseff’s chief of staff over questions about his personal finances, will be taking a seat at Petrobras Administration Council, confirmed Brazil’s oil giant president Sergio Gabrielli.
Thursday, June 9th 2011 - 05:42 UTC
OPEC fails to reach agreement on production targets for the first time in 20 years

Oil rose for a third day in New York after OPEC failed to reach an agreement on production targets for the first time in at least 20 years and U.S. crude inventories fell more than analysts forecast.
Thursday, June 9th 2011 - 05:39 UTC
Uruguay trying to determine the death cause of 600 Magellan penguins

Authorities in Uruguay say they have found about 600 dead penguins washed up on the Atlantic coast since Saturday. Experts are trying to determine what has killed the sea birds.
Thursday, June 9th 2011 - 04:20 UTC
FAO forecasts world food prices are likely to remain high in 2011 and 2012

Citing dwindling stocks and only small production increases for the majority of crops, a new United Nations report released Wednesday world food prices are likely to remain high for the rest of this year and into 2012.
Thursday, June 9th 2011 - 04:03 UTC
Access to Internet is the right of all human beings, says UN Special Rapporteur

United Nations has declared that access to the Internet is the right of all human beings. Nations should not institute any laws that prevent its citizens from accessing the Internet, according to a recent document published by the UN Human Rights Council. The document is a report by Frank La Rue, United Nations Special Rapporteur on the Promotion and Protection of the Right to Freedom of Opinion and Expression.