Latinamerica and the Caribbean are poised to grow 3% this year, according to the July Economic Survey of Latin America and the Caribbean, which is down from the previous April estimate of 3.5%. Slower growth in the region’s two largest economies Brazil and Mexico, and more modest activity in Chile, Panama and Peru have pulled the average down.
International issues helped Mercosur to close ranks and give a false image of unity during the last summit held in Uruguay, according to diplomatic sources in Montevideo that are surfacing details of a bitter exchange behind doors between Argentina’s Cristina Fernandez and Brazil’s Dilma Rousseff.
Argentina's June trade surplus grew by 26.9% to 1.16 billion dollars from 910 million in the same month last year, but the six month period was down 26%, the government's national statistics institute Indec said on Tuesday.
Following the birth of His Royal Highness, the Prince of Cambridge, Pobjoy Mint has announced the release of three coins which have had a special privy mark added to them to congratulate the Royal Couple and to commemorate the historic occasion. The coins will be released on behalf of British Virgin Islands and South Georgia & South Sandwich Islands.
The International Monetary Fund no longer plans to ask the U.S. Supreme Court to review Argentina's case in its decade-old legal battle with holdout creditors due to a lack of support from the U.S. government, the IMF said on Tuesday.
Federal Reserve Chairman Ben S. Bernanke in September will trim the Fed’s monthly bond buying to 65 billion from the current pace of 85 billion dollars, according to a growing number of economists surveyed by Bloomberg News.
Odyssey Marine Exploration said it has recovered more than 61 tons of silver bullion this month from a depth of nearly three miles. This recovery of bullion from the SS Gairsoppa, a 412-foot steel-hulled British cargo ship that sank in February 1941, consists of 1,574 silver ingots weighing about 1,100 ounces each or almost 1.8 million troy ounces in total, sets a new record for the deepest and largest precious metal recovery from a shipwreck. The silver has been transported to a secure facility in UK.
Following on recommendations from scientific cruise surveys Argentina’s Federal Fisheries Council, CFP, decided to temporarily ban Illex squid catching operations, north of 44o South, with the purpose of giving the cephalopods time to increase in size.
Brazil is cutting spending for the second time in two months to help meet its fiscal target as it forecasts slower growth this year which was also confirmed according to the latest Central Bank survey. The economic data was announced while Brazil had its eyes and ears in Rio do Janeiro to receive Pope Francis.
Venezuelan Vice-president Jorge Arreaza said that cooperation between China and Venezuela, which has been especially strong and beneficial in energy and technology, could be extended to include agriculture and land exploitation, an area of special interest for Beijing.