The Brazilian economy contracted in April for the first time on an annual basis since September 2009, reinforcing economists’ expectations that Latin America’s largest economy will slow for a second consecutive year.
The Euro zone economy faces serious risks and no inflation threat, European Central Bank President Mario Draghi said on Friday in comments that heightened expectations the ECB could cut interest rates or take other policy action soon.
US stock were modestly higher as optimism over a possible coordinated action by major world central banks if Sunday's Greek election causes financial turmoil was tempered by a weak reading on domestic manufacturing.
Fitch Ratings says a new round of adverse shocks centred on the Euro zone is slowing the fragile global economic recovery. In its latest quarterly Global Economic Outlook (GEO), Fitch forecasts real GDP growth of major advanced economies (MAE) to remain weak at 1.1% in 2012, before only a modest rebound to 1.7% in 2013 and 2.2% in 2014.
The Falkland Islands Government is “incredibly disappointed” that despite claims from Argentine president Cristina Fernandez, before the United Nations, of “only wanting to sit down and discuss about Falklands”, her government rejected point blank an invitation to dialogue.
The Falkland Islands fishing industry is taking steps are to establish a licensed fishery for grenadier for an initial period of three years. In 2009 the option of converting the grenadier fishery from exploratory status to an ITQ fishery was considered, but not progressed.
A letter from the Falkland Islands government inviting the Argentine government to enter into a dialogue and which was to be delivered directly to President Cristina Fernandez’ delegation during the Decolonization Committee debate was frustrated by the passivity of the C24 chair and by Foreign Minister Hector Timerman.
In a strong speech claiming sovereignty over the Falklands/Malvinas issue addressing the UN Decolonization Committee, Argentine president Cristina Fernandez called on the UK “to leave this history of colonialism behind and start building a new history based on dialogue” but at the same time blasted the recent announcement of a referendum in the Islands do decide on their political status.
Colombia's Congress on Thursday passed a law that could pave the way for peace talks with Marxist oriented guerrillas, raising hopes for an end to the war, but drawing criticism from human rights groups that say the law is too lenient toward rebel leaders.
The family of Mexican billionaire Carlos Slim owns 8.4% of YPF shares, Argentina's recently re-nationalized oil and gas company said in a filing with the US Securities and Exchange Commission on Thursday.