Stories for August 2012
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.
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.
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.
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.
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 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.
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 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.
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.
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.