Stories for July 2011

Friday, July 22nd 2011 - 06:09 UTC
Slower truck sales in Brazil hit Sweden’s Scania second quarter profit

Swedish truck-maker Scania controlled by Germany’s Volkswagen, reported second-quarter profit that missed analysts’ estimates as orders in Brazil slowed. Net income in the quarter rose to 2.43 billion kronor (380 million USD) from 2.37 billion kronor a year earlier, the company said in a statement.
Friday, July 22nd 2011 - 02:04 UTC
International press blasts Ecuadorian court libel suit ruling on freedom of expression

The International Press Institute (IPI) blasted an Ecuadorian court’s decision to jail a journalist and three executives of critical opposition daily El Universo for libeling President Rafael Correa, and to impose 40 million dollars in fines against the defendants and the newspaper.
Friday, July 22nd 2011 - 01:59 UTC
Weak Spanish government conditions enthusiasm for an EU/Mercosur deal

The Spanish government's enthusiasm for an European Union free-trade agreement with Mercosur remains solid and Madrid seems willing to put some sectors of agriculture at risk in exchange for access to new markets for the country's multinationals.
Friday, July 22nd 2011 - 00:25 UTC
Paris-Berlin soften rescue terms admit “selective default” and announce Euro IMF

Euro zone leaders agreed at an emergency summit on Thursday to give their financial rescue fund sweeping new powers to help Greece overcome its debt crisis and prevent market instability from spreading through the region.
Thursday, July 21st 2011 - 23:57 UTC
Peruvian president-elect names orthodox pro-business in key cabinet posts

Peruvian President-elect Ollanta Humala picked more moderates for his Cabinet on Thursday as he tries to reassure investors he will govern as a centrist in one of the world's fastest-growing economies.
Thursday, July 21st 2011 - 23:53 UTC
Chavez proclaims Venezuela was “robbed of victory goal” against Paraguay

President Hugo Chavez proclaimed Venezuela had been “robbed” of their victory goal after his team was beaten on penalties by Paraguay in the Copa America semi-finals.
Thursday, July 21st 2011 - 23:45 UTC
Latam regional integration is “too slow” given the challenges says UN expert

The current regional integration of Latin America is too slow in light of the challenges the region faces, a United Nations economic agency official said on Wednesday, calling for greater efforts to rev up the process.
Thursday, July 21st 2011 - 23:30 UTC
Falklands present at the centennial of the Commonwealth’s Parliamentary Conference

Legislative Assembly Member Dick Sawle will represent the Falkland Islands at the 57th Commonwealth Parliamentary Conference next week in London which on this occasion will have a very special significance: the founding centennial of the Commonwealth’s oldest organization.
Thursday, July 21st 2011 - 10:16 UTC
Uruguay economy expands 6.8% in the first quarter and domestic demand, 8.3%

Following on an 8.5% growth rate in 2010, Uruguay’s real GDP continued to expand 6.8% in the first quarter of this year compared with the same period of 2010, according to the Central bank Debt Management Unit.
Thursday, July 21st 2011 - 10:09 UTC
Brazil raises the basic rate to 12.50%, but confident it can tame inflation

Brazil’s central bank announced late Wednesday the fifth straight increase in its benchmark Selic rate by a quarter points to 12.5%, a decision much anticipated by the market and geared to combat high inflation, which is running at a six-year high, 6.75% above the government’s upper target of 6.5%.