Stories for July 12th 2012

Thursday, July 12th 2012 - 22:35 UTC
ECB zero deposit-rate shakes EU banking system and forces to look for alternatives

European Central Bank's new zero deposit rate had an instant impact as it came into force, with banks more than halving the amount of cash parked there overnight and one ECB policymaker saying he expected the move to increase banks' lending.
Thursday, July 12th 2012 - 19:59 UTC
Gibraltar says UK/Spain bilateralism is “dead and will never ever be revived”

Gibraltar Chief Minister Fabian Picardo has declared that UK-Spain bilateralism is “dead and will never ever be revived under any circumstances” regarding the Rock’s future.
Thursday, July 12th 2012 - 19:36 UTC
Rockhopper signs a billion dollars deal to develop Falklands’ oil discovery

Britain's Premier Oil announced on Thursday a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands.
Thursday, July 12th 2012 - 07:27 UTC
Brazil lowers benchmark rate for eighth straight time to 8%

Brazil’s central bank cut its benchmark interest rate for the eighth straight time and signaled it will continue to lower borrowing costs, as spillover from a global economic slowdown limits inflation risks.
Thursday, July 12th 2012 - 07:23 UTC
Boom year for the Falklands’ tourism industry propped by the war’s anniversary

Tourist arrivals to the Falkland Islands are expected to increase by 14.9% in 2012, with a significant 28.8% jump in the number of leisure visitors, mainly driven by the 30th anniversary of the Falklands War.
Thursday, July 12th 2012 - 07:16 UTC
Cristina Fernandez challenges organized labour determined to have Moyano sacked

The Argentine powerful organized labour unions, CGT is heading for a fracture from the moment two different congresses have been convened at different dates, one of them supportive of President Cristina Fernandez’ administration and the other entirely in the opposition.
Thursday, July 12th 2012 - 07:11 UTC
Argentina displaces Venezuela as holder of the region’s highest inflation title

Venezuela’s president Hugo Chavez running for re-election received a considerable boost for his campaign from his peer and political associate President Cristina Fernandez when it was revealed that Argentine inflation in the first half was over two digits.
Thursday, July 12th 2012 - 07:09 UTC
Argentine economy suffering from a mix of stagnation and strong inflation

The stagnation of the Argentine economy at the end of the first half of the year is “palpable” and so is tension in the money exchange market because of the restrictions on the purchase of US dollars imposed by the government of President Cristina Fernandez, according to a report from economic advisors Ecolatina from Buenos Aires.
Thursday, July 12th 2012 - 07:05 UTC
Washington says Paraguay should not be suspended from OAS and calls for regional unity

Paraguay should not be suspended from the Organization of American States, OAS, despite the removal of President Fernando Lugo, said on Wednesday Roberta Jacobson, Assistant Secretary of State for Western Hemisphere Affairs.
Thursday, July 12th 2012 - 07:00 UTC
Canada protests Bolivian decision to revoke licence to mine silver deposits

Canadian company is protesting Bolivia's decision to revoke its licence to mine a rich silver deposit in the country and nationalize the project.