Stories for 2012
Barclays CEO resigns as the Libor rate fixing scandal widens
UK Barclays chief executive Bob Diamond suddenly quit on Tuesday over an interest rate-rigging scandal that threatens to drag in a dozen more major lenders but suggested the Bank of England had encouraged his bank to manipulate the figures
Uruguay leaves benchmark rate at 8.75% on persistent concern with inflation
Uruguay's central bank held its benchmark interest rate steady at 8.75% on Tuesday, citing “reasonable” economic growth and persistent concern about inflation expectations above target.
Partly Canadian owned South American airline on the verge of bankruptcy
Uruguay’s bankrupt flagship carrier Pluna decided on Tuesday to cancel all flights during 48 hours following an announcement from the union of a two-day strike to protest working conditions and rumours of 200 redundancies.
Mujica confirms full support for Minister Almagro and Ambassador Pomi
Even when Uruguayan president Jose Mujica assumed full responsibility for the controversial support suspending Paraguay and embracing Venezuela during the Mercosur summit, other details of events have emerged with Uruguayan ambassador Guillermo Pomi in Argentina, allegedly playing a crucial role.
OAS fact-finding mission presents report to Permanent Council next Monday
Organization of American States (OAS) Secretary General, José Miguel Insulza concluded on Tuesday his fact-finding visit to Paraguay, where he headed a special mission that included OAS Permanent Representatives from Haiti, Canada; United States; Honduras and Mexico.
Argentina extends incorporation deadline for 20 new jiggers to end of August
Argentina’s Federal Fisheries Council, (CFP), has decided to extend the deadline for fishing companies interested in presenting projects for the incorporation of jiggers to the authorised fleet, which currently consists of 85 vessels.
“A coup against Mercosur” claims leading Brazilian newspaper
Brazil’s conservative but influential daily O Estado de Sao Paulo dedicated the main Tuesday editorial to the Mercosur suspension of Paraguay and the entrance of Venezuela arguing that what happened at the group’s summit in Mendoza was “a coup against” the block.
China scraps plan to build 5 billion dollars steel plant in Brazil
A major Chinese steelmaker has scrapped a plan to build a five-billion-dollar factory in Brazil due to high costs and a slump in global prices for the metal, state media said Tuesday.
IMF praises Germany; suggests more stimuli to a tepid performing US economy
An IMF report revealed that the German economy’s performance has been remarkable despite facing considerable headwinds and that the US recovery “remains tepid and subject to elevated downside risks.”
Bank of China expands in Brazil following 30bn dollars swap agreement
Bank of China plans to cash in on the expanding bilateral trade between China and Brazil and the recent currency swap agreement between the two central banks.
