Stories for June 2012

Saturday, June 30th 2012 - 05:39 UTC

Mercosur doubles list of goods that can have tariffs raised unilaterally 35% by each member

Mujica proposes a system of “partial windows” to promote bilateral trade (Photo: EFE)

Mercosur rejected an Argentine proposal to raise imports tariffs on all goods from outer zone to protect local industries, but accepted Brazil’s initiative to raise tariffs unilaterally on 200 goods, up from 100 agreed last December.

Saturday, June 30th 2012 - 05:25 UTC

Relief in EU: German parliament approved Euro rescue fund and fiscal pact

A happy day for Chancellor Merkel…and for Spain and Italy

As expected, more than two-thirds of the lawmakers in Germany's parliament moved on Friday to approve the permanent Euro rescue fund, the European Stability Mechanism, and a fiscal pact long championed by Chancellor Angela Merkel.

Saturday, June 30th 2012 - 05:19 UTC

Brazil farmers rush to cash soy exports on high prices and favourable exchange rate

Soy bean export stocks are well below the normal average for this time of the year

Brazil could soon run out of soybeans to export this year after farmers’ frontloaded their shipments more than normal to cash in on high international prices and a favourable exchange rate.

Saturday, June 30th 2012 - 05:12 UTC

Wikileaks Assange “declines to comply” police order and remains at Ecuadorean embassy

Julian Assange fears he could end in the US

Wikileaks founder Julian Assange is ignoring a London Metropolitan Police order to surrender himself at a police station, his representative has said. Susan Benn said he was advised to “decline to comply” and will remain inside the Ecuadorian embassy while his application for asylum is processed.

Saturday, June 30th 2012 - 05:05 UTC

Mercosur agrees info exchange on hydrocarbons naval traffic to the Falklands

The tracking of oil rigs and support equipment on the Mercosur agenda

Mercosur agreed at the Mendoza summit to exchange information on ships and other “naval artefacts” involved in hydrocarbons activities with routes that include the Falklands/Malvinas Islands over which Argentina claims sovereignty.

Saturday, June 30th 2012 - 04:45 UTC

Unasur suspends Paraguay; names Peru at the group’s pro-tempore presidency

Argentine Foreign minister read the Unasur declaration

Unasur, Union of South American nations on Friday suspended Paraguay from the group following the ouster of the country's former president, Fernando Lugo. The decision was adopted at an extraordinary meeting in Mendoza, Argentina where earlier in the day Mercosur members adopted a similar measure.

Saturday, June 30th 2012 - 04:37 UTC

China prepares the ground for the Yuan to gradually become a reserve currency

Qianhai in Shenzhen will be encouraged to sell Yuan-denominated bonds

China will make part of the booming Shenzhen economic zone, a test ground for freer Yuan usage and capital account convertibility, the National Development and Reform Commission said on Friday.

Saturday, June 30th 2012 - 04:17 UTC

Repsol donated a million dollars to the campaign of President Kirchner in 2003

Nestor Kirchner won the election when Menem stepped down from the run-off

The nationalization of YPF, seized from Spain’s Repsol by Argentine president Cristina Fernandez is again a source of controversy following the disclosure by an investigative journalist that the Spanish oil corporation in 2003 helped finance the presidential election of Nestor Kirchner as well as the other candidate in the run-off, Carlos Menem.

Saturday, June 30th 2012 - 04:06 UTC

Why Enrique Peña Nieto will win the Mexican presidential election

The next president speaks no foreign language and could only name two books: the Bible and a Jeffrey Archer pot-boiler.

By Gwynne Dyer - There’s no point in talking about who’s going to win the Mexican presidential election on July 1. Enrique Peña Nieto is going to win it. What’s more interesting is why he’s going to win it.

Saturday, June 30th 2012 - 03:59 UTC

YPF stock trades normally at NYSE after complying with requirements

The company’s headquarters flying the Argentine colours

Argentine seized YPF energy company informed on Friday that its American Depositary Shares (ADS) were listed back in to trade in New York after being de-listed for almost two months for not complying with auditory regulations.

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