Economy

• Monday, May 13th 2013 - 04:08 UTC

  German president in Brazil to promote trade and investments

  

  German President Joachim Gauck arrived on Sunday to Brazil with economic and trade issues as the centre of his visit. The trip to Sao Paulo marks the start of the Year of Germany in Brazil, which Gauck's predecessor Christian Wulff agreed on with Brazilian President Dilma Rousseff in May 2011.

• Monday, May 13th 2013 - 04:03 UTC

  Two Tory ministers prepared to vote for Britain to leave the EU

  

  Defence Secretary Philip Hammond has become the second cabinet minister to say he would vote for Britain to leave the EU if a referendum were held now. But, like education secretary Michael Gove, he said David Cameron must be given a chance to bring powers back from Brussels before deciding.

• Saturday, May 11th 2013 - 05:50 UTC

  Argentina’s whitewashing bill could attract “around 5 billion dollars”

  

  The head of Argentina’s Lower House Budget and Finance Committee and former Finance minister Roberto Feletti said that the whitewashing bill should allow the entrance of “around 5 billion dollars” into Argentina’s market. For the MP, the government is “fighting a historic battle to block” what he called a “market coup.”

• Saturday, May 11th 2013 - 05:49 UTC

  Argentina’s ‘blue dollar’ yields on expectations but still above 10 Pesos

  

  The so called ‘blue dollar’ traded in Argentina’s parallel market ended on Friday just above 10 Pesos after having reached record highs earlier in the week (10.55 Pesos) and following the Thursday announcement of a tax amnesty bill and other ‘whitewashing’ financial instruments.

• Saturday, May 11th 2013 - 05:47 UTC

  Argentine government insists a ‘blue dollar’ at 6.50 Pesos is the target

  

  Argentina’s Secretary of Domestic Commerce Guillermo Moreno wants to bring the foreign exchange black market ‘back in line’ using new dollar securities the government plans to issue locally as part of a major tax amnesty plan, according to Alfredo Piano, Chairman of Banco Piano SA.

• Saturday, May 11th 2013 - 05:40 UTC

  Brazil raises 800million dollars in bond sales: 750m in US and EU; 50m in Asia

  

  Brazil succeeded in selling 50 million US dollars worth of dollar-denominated government bonds in Asian markets on Friday, the Treasury Department announced.

• Saturday, May 11th 2013 - 05:36 UTC

  Global food prices increased for third month running in April pushed by dairy costs

  

  Global food prices rose in April for a third straight month as surging dairy costs kept upward pressure on the FAO index, but cereal output is expected to be strong this year. Food prices spiked during the summer of 2012 as the United States was hit by a severe drought and dry weather plagued other producers. After falling at the start of 2013, prices have been rising again in the past three months

• Saturday, May 11th 2013 - 05:32 UTC

  Tory MPs challenge Cameron: insist EU referendum be enshrined into law

  

  A group of Tory MPs will attempt to force a House of Commons vote over a referendum on the UK’s European Union membership in a fresh blow to David Cameron’s authority. They have criticised the failure to include legislation paving the way for PM Cameron’s promised public vote on the EU.

• Saturday, May 11th 2013 - 05:27 UTC

  Germany’s anti-Euro movement could become a party this weekend

  

  Germany's newly launched anti-Euro party will clear a key hurdle this weekend to taking part in September's national election but has yet to rally enough support to win seats in parliament.

• Saturday, May 11th 2013 - 05:24 UTC

  G7 divided on the austerity/expansion debate; US warns Japan on Yen policy

  

  The United States told Japan it would be watching for any sign it was manipulating its currency lower but Tokyo said it met no resistance to its policies at a meeting of Group of Seven finance ministers.