Stories for August 2012
Chile’s 2013 budget based on 5% growth and copper at 3.06 dollars the pound
Chile is planning a 2013 budget with a tendency growth of 5% and an average long term basic copper price of 3.06 dollars the pound revealed finance minister Felipe Larraín together with Rosanna Costa, head of the Budget Office during a presentation before Congress.
Investors wanting safe parking for their money buy 0% German bonds
Germany got bids for 6.24 billion Euros of two-year notes at an auction Wednesday exceeding its 5 billion-Euro maximum sales target, according to a statement from the Bundesbank.
Global confidence index for next twelve months at its gloomiest in five quarters
Confidence in the state of the world economy over the next 12 months fell to the lowest level in five quarters, according to the Global Confidence Index prepared by the World Economic Forum.
Edinburgh the most welcoming UK airport; Paris and Moscow the rudest in Europe
Luton is the UK’s most unfriendly airport, with Edinburgh the most welcoming, according to a survey. The Bedfordshire airport got the thumbs-down from travellers asked to rate the friendliness of staff in a poll by travel search site Skyscanner.
A billion dollars trade surplus for Argentina in July; Mercosur main partner
Argentina’s trade surplus reached 1.014 billion dollars in July, which is 54% higher than the same month a year ago. Exports totalled 7.4 billion and imports 6.37bn according to the latest release from the official stats office, Indec.
Argentine president cancels agenda because of a low blood pressure episode
Argentine president Cristina Fernandez had to cancel all her Wednesday activities because of a lipothymy episode (low blood pressure) and was instructed to rest for the rest of the day at the presidential residence in Olivos.
OAS to dispatch mission to accompany and observe Paraguay’s political process
The Organization of American States (OAS) agreed on Wednesday to dispatch of a mission to Paraguay to accompany and observe the electoral process in the country that will conclude with the general elections of April 21, 2013.
“We need to prepare for war to live in peace”, says Paraguayan Defence minister
“We must prepare for war to live in peace” said Paraguay’s Defence minister Maria Liz Garcia in reference to the new geopolitical situation following the suspension of Paraguay as a member of Mercosur and Unasur.
Argentine government economists agree the Peso in over-valued and hurts non primary exports
Three Argentine economists, particularly close to the government of President Cristina Fernandez have admitted that the Argentine Peso is overvalued and is causing problems for non commodity exports which need to be addressed.
US Congress budget office warns “fiscal cliff” is already holding back the economy
The US Congress budget office launched on Wednesday a stern warning: massive spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution.
