Stories for July 2012

Thursday, July 12th 2012 - 02:27 UTC
Chavez after an extra 9bn dollar to fund “Love for the Elderly”

Venezuelan President Hugo Chávez will seek Congress' approval to hike the 2012 government borrowing cap by about a third to 27 billion dollars to help fund a new pension program ahead of his October 7 re-election bid.
Thursday, July 12th 2012 - 02:03 UTC
Paraguayan Supreme Court receives unconstitutional appeal on Lugo’s removal

The Paraguayan Supreme Court accepted on Wednesday an unconstitutional appeal against the removal of President Fernando Lugo which requests the annulment of the political impeachment undertaken and voted by Congress.
Thursday, July 12th 2012 - 01:59 UTC
Chile’s top copper producer placed 2bn dollars in 10 and 30-year bonds

The world’s number one copper producer Codelco announced it had placed 2 billion dollars in bonds, its largest debt issue to date, aimed at refinancing debt and funding a good part of the miner's 2013 investments.
Wednesday, July 11th 2012 - 23:02 UTC
Uruguay concerned with Argentine economy growing misbalances

Uruguay’s Economy minister Fernando Lorenzo expressed concern about the deteriorating indicators from the Argentine economy which could have a negative impact on the country’s activity.
Wednesday, July 11th 2012 - 22:56 UTC
'Euroleaf', trademark for the strict EU organic farming standards

The “Euro-leaf” EU organic logo was introduced on 1 July 2010, but in order to help operators adapt to the new rules, and to avoid waste of existing packaging, a 2-year transition period was allowed before it was compulsory on all products.
Wednesday, July 11th 2012 - 22:33 UTC
ILO anticipates further job losses in Euro-zone because of austerity measures

The Euro-zone could lose 4.5 million more jobs in the next four years unless the region shifts away from austerity, the International Labour Organization (ILO) has warned. That rise would take unemployment in the 17-nation bloc to 22 million.
Wednesday, July 11th 2012 - 22:28 UTC
Rajoy raises VAT to 21% and drastically cuts benefits and other perks

Prime Minister Mariano Rajoy announced a swathe of new taxes and spending cuts designed to slash 65 billion Euros from the budget deficit by 2014 as recession-plagued Spain struggles to meet tough targets agreed with Europe.
Wednesday, July 11th 2012 - 22:23 UTC
Italy’s caretaker PM Monti says next year’s election can be looked at “with serenity”

Italy's technocrat Prime Minister Mario Monti, appointed last year to steer his country through a debt crisis, said he was confident a stable government would be formed after elections in 2013, playing down fears of deadlock after he steps down.
Wednesday, July 11th 2012 - 22:16 UTC
Germany expected to grow 1.9% in 2013 because of Euro crisis

Germany's DIW economic research institute slashed its 2013 forecast for Europe's largest economy by 0.5 percentage points to 1.9% on Wednesday, saying the Euro zone debt crisis would have a bigger impact than it had originally expected.
Wednesday, July 11th 2012 - 22:09 UTC
OECD/FAO anticipate promising future for farm-commodity prices

World farm commodity prices will edge higher in the next decade, and oilseeds are set to outperform wheat and other cereals, both trends fuelled by demand in emerging economies, the OECD said on Wednesday, presenting a joint report with the UN's food agency FAO.