Stories for July 5th 2012

Thursday, July 5th 2012 - 22:40 UTC
Brazil oil and gas production reached 2.78 million barrels equivalent per day

Brazilian oil and natural gas output rose 1.89% in May from April to 2.78 million barrels of oil and gas equivalent a day (boepd) as crude output from giant, new offshore fields increased, Brazil's oil agency ANP said on Thursday.
Thursday, July 5th 2012 - 22:30 UTC
Argentina further tightens “dollar clamp”, bans all greenback’ purchases for savings

The Argentine Central Bank announced on Thursday it will officially ban the purchase of dollars for savings, the latest in a series of measures to discourage the buying of greenbacks.
Thursday, July 5th 2012 - 22:25 UTC
Bank of England pumps further £50 billion to the economy; total stimulus £375 bn

The Bank of England has announced on Thursday it will pump a further £50bn into the UK economy over the next four months through its quantitative easing (QE) program to try to help the economy.
Thursday, July 5th 2012 - 22:22 UTC
ECB lowers interest to record low 0.75%; pushes banks to lend by cutting overnight rate to zero

The European Central Bank cut its key interest rate by a quarter percentage point Thursday to a record low 0.75% to try to help ease Europe’s financial crisis, boost its sagging economy and restore confidence.
Thursday, July 5th 2012 - 22:20 UTC
China cuts interest rate a week ahead of next week’s release of second quarter stats

China's central bank cut interest rates for the second time in two months to bolster an economy widely expected to record its sixth successive slide in growth in April-June.
Thursday, July 5th 2012 - 18:07 UTC
Drastic cut in UK Armed forces manpower preparing for “the Army of the future”

UK’s Defence Secretary Philip Hammond announced that 17 units are to be axed from the British army as part of sweeping reforms that will reduce its overall strength by 20.000 posts.
Thursday, July 5th 2012 - 08:21 UTC
Paraguay formally accuses Venezuela of interference and orders ambassador home

Paraguay's new government ordered home its ambassador in Venezuela after accusing President Hugo Chávez government of meddling in an attempt to avert the impeachment of the Paraguayan president last month.
Thursday, July 5th 2012 - 08:14 UTC
Roaring inflation: Argentine “double zero” peso bills are “legal tender”

An issue of Argentine 100 Pesos bills printed in Brazil and in circulation in Buenos Aires was discovered to be missing the “1” which left them with only the double 00.
Thursday, July 5th 2012 - 08:06 UTC
Paraguay's Destructive Soy Boom

By Jeremy Hobbs - The following column was published in The New York Times Opinion page.
It gives another side of the current situation in Paraguay, and the role the landlocked country plays as a leading exporter of the oilseed.
Thursday, July 5th 2012 - 07:58 UTC
Argentine government in campaign to defend achievements of “economic model”

Argentina’s Cabinet Chief Juan Manuel Abal Medina asked for “responsibility” to safeguard “the present and the future of the Argentines and urged people to preserve the achievements of the Government, as he answered questions of the administration during a visit to the Lower House on Wednesday.