MercoPress. South Atlantic News Agency
Stories for May 3rd 2013
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Friday, May 3rd 2013 - 02:34 UTC
Rousseff insists oil royalties should be invested in education; divided Congress disagrees
Brazilian President Dilma Rousseff said she has sent to Congress another proposal to earmark all oil royalties collected by the state for public education after lawmakers shelved an earlier effort. Rousseff made the announcement in a televised Labour Day speech in which she said improving education was vital for Brazil's development in a highly competitive world.
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Friday, May 3rd 2013 - 02:31 UTC
Brazil with trade deficit for third month running; government blames change in fuel tax accounting
Brazil recorded in April its third trade deficit in four months, trade ministry data showed on Thursday, another weak result that reflects the deterioration of the country's trade balance due to a sluggish global economy and struggling local industry.
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Friday, May 3rd 2013 - 02:27 UTC
Bank of Canada names long term bureaucrat and economist as new head
The Bank of Canada has named long-term bureaucrat and economist Stephen Poloz as its new head, replacing Mark Carney who is going to run the Bank of England. Mr Poloz was a surprise choice as many observers expected Mr Carney's senior deputy, Tiff Macklem, to succeed him.
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Friday, May 3rd 2013 - 02:24 UTC
EU “nightmare of unemployment” debate reaches ECB, which cuts rates to record low 0.5%
The European Central Bank cut interest rates to a new record low on Thursday amid a chorus of calls for the Euro zone to focus on growth to end a “nightmare of unemployment” in the bloc. It was the first cut in ten months.
