Stories for July 2011

Monday, July 4th 2011 - 18:00 UTC
OECD warns the Euro Central Bank about ‘aggressive’ hike of interest rates

The European Central Bank should not hike interest rates aggressively and wait for stronger Euro zone growth before increasing rates after this week's expected move, OECD head Angel Gurria said on Monday.
Monday, July 4th 2011 - 17:22 UTC
In a surprise return Chavez is back in Venezuela singing and saying he’s “fine”

Venezuela's President Hugo Chavez made a surprise homecoming on Monday after cancer surgery in Cuba and declared himself “fine” despite speculation he may still require lengthy treatment.
Monday, July 4th 2011 - 05:45 UTC
Spanish-Chinese group discover oil in Brazil’s pre-salt cluster, 6.851 metres deep

Spanish oil and gas group Repsol YPF announced last week that its joint venture with China's Sinopec Group had made a new discovery of good quality oil in Brazilian ultra-deep water.
Monday, July 4th 2011 - 05:28 UTC
Uruguay confirms second round of offshore oil exploration for next September

Uruguay confirmed a second round of offshore lease bidding for hydrocarbons exploration next September. The country’s state run oil refining company ANCAP plans to offer 15 areas with sizes ranging from 2,300 sq km to 12,000 sq km, said sources from the Ministry of Industry, Energy and Mining.
Monday, July 4th 2011 - 05:20 UTC
Canadian bank concludes purchase of Uruguay’s fourth largest private bank

Canada’s Scotiabank announced it has closed the transaction to purchase Nuevo Banco Comercial S.A. (NBC), Uruguay's fourth largest private bank in terms of loans and deposits. The acquisition was announced on December 6, 2010. Terms of the agreement were not disclosed.
Monday, July 4th 2011 - 05:12 UTC
Brazilian government continues to subsidize loans to big corporations

Brazil's state development bank, BNDES, is lending to companies at the lowest rate relative to the country's benchmark in two years, undercutting President Dilma Rousseff's efforts to curb inflation, revealed the Sao Paulo financial press.
Monday, July 4th 2011 - 05:08 UTC
Narrowest house in New York, (2.4 meters) on sale for 4.3 million USD

New York City's narrowest house, 75 ½ Bedford Street, Manhattan, is back on the market after selling in early 2010 for 2.175 million US dollars at the dramatically increased price of 4.3 million.
Monday, July 4th 2011 - 04:54 UTC
Government promises Cubans will be allowed to buy and sell their cars and homes

The authorities in Cuba have released more details of their plans to allow people to buy and sell their cars and homes for the first time in 50 years. The new laws will open up a private property market and enable Cubans to buy any car they can afford.
Monday, July 4th 2011 - 04:48 UTC
Greece warned aid package means significant losses of “sovereignty” and jobs

Euro zone finance ministers have approved a 12 billion euro instalment of Greece's bailout, but signalled that the nation must expect significant losses of sovereignty and jobs.
Monday, July 4th 2011 - 04:42 UTC
French left leaning voters want Socialist Strauss-Khan back in politics

A majority of left-leaning French voters, 60%, want former IMF chief Dominique Strauss-Kahn, whose high-profile trial on sexual assault charges could collapse, to return to French politics, a poll released showed.