
A new record was set for Falkland Islands tourism last week, with 4,053 visitors arriving on board cruise ships on Friday February 6, confirmed Jake Downing, General Manager of the Falkland Islands Tourist Board (FITB).

The United States Congressional Oversight Panel says the government overpaid for distressed financial assets and shares last year. It says the US Treasury paid 78 billion US dollars more than it should when buying stakes in banks through the 700 billion US dollars Troubled Assets Relief Program (Tarp).

An article from The Economist (Feb. 5th), Profiting from Virtue praises Uruguay's prudent and orthodox economic policies, under the leftish government of President Tabare Vazquez and states the country is better placed to mitigate world recession than its neighbor Argentina.

Members of the Brazilian Congress opposition again delayed on Wednesday the consideration of Venezuela's Mercosur incorporation protocol, in spite of strong appeals from the ruling coalition of President Lula da Silva.
The recently nominated president of the Brazilian Senate Jose Sarney vehemently rejected on Tuesday claims he was intent in further delaying approval for Venezuela's incorporation to Mercosur.

Speaker for the Falkland Islands' Legislative Assembly, Darwin Lewis Clifton OBE, has been fined by Britain's Financial Services Authority (FSA) for dealing in oil shares on the basis of inside information. However, FSA described Mr. Clifton's conduct as non deliberate and said his full cooperation with the investigation had qualified him for a 30% fine reduction.

Falkland Islands deputy governor Paul Martinez described British press reports on Prince William doing part of his 18 month RAF Search and Rescue (SAR) course in the South Atlantic Islands (claimed by Argentina) as speculation and not correct.

The process of returning the ill-fated Royal Navy Ice Patrol HMS Endurance to the United Kingdom for repair is expected to start at the end of February, according to reports from the radio station of the Falkland Islands where she is currently anchored.

The Bush administration ended with economic collapse on nearly every measure. The greatest fear now is that the combined effect of the $700 billion financial sector bail-out, a near-zero federal funds rate and President Obama's $820 billion economic stimulus package still might not turn the economy around by 2010. But tough times may also open the door for greater cooperation with new and longstanding economic partners, especially those in our hemisphere.

Developments in satellite and communications technology combined with new fisheries legislation have given the Falkland Islands Fisheries Department the opportunity to add new aids to the monitoring and tracking of fishing vessels in the Falkland Islands fishery.