Economy

Thursday, October 11th 2012 - 23:28 UTC
IMF asks for “a bit more time” for Greece and Spain but Germany says it will affect confidence

The IMF on Thursday backed giving debt-burdened Greece and Spain more time to reduce their budget deficits, cautioning that cutting too far, too fast would do more harm than good.
Thursday, October 11th 2012 - 05:39 UTC
Coast and Border guards conflict finds a culprit and comes to an end

The Argentine Coast and Border Guards conflict came to an end on Wednesday morning following an order for the officers to return to their posts and remain in barracks until new instructions.
Thursday, October 11th 2012 - 05:26 UTC
Seed giant Monsanto suspended in Argentina on allegations of tax irregularities

Argentine authorities suspended the local unit of US seed giant Monsanto from a local grains registry over allegations of tax irregularities. The company denied the allegations in a statement issued late on Wednesday.
Thursday, October 11th 2012 - 04:45 UTC
Argentine central bank confirms no restrictions for governments to purchase dollars

The Argentine central bank confirmed on Wednesday that there is no money exchange restrictions for the federal government or provinces to purchase US dollars to honour public debt issued offshore.
Thursday, October 11th 2012 - 04:41 UTC
In divided decision Brazil central bank cuts basic rate another 25 points to 7.25%

Brazil's central bank on Wednesday slashed its interest rate for the 10th time since August last year, to a record low of 7.25%, in a bid to stimulate the sluggish economy.
Thursday, October 11th 2012 - 04:09 UTC
S&P cuts Spain’s credit rating to BBB minus just above junk territory

Standard & Poor's cut Spain's sovereign credit rating to BBB-minus, just above junk territory, citing a deepening economic recession that is limiting the government's policy options to arrest the slide.
Wednesday, October 10th 2012 - 09:39 UTC
One in eight people worldwide suffer from chronic hunger, says FAO

One in eight people worldwide still suffers from chronic hunger, the UN's food agency said on Tuesday, describing the figure as “unacceptable” and warning that the fight against hunger was slowing down.
Wednesday, October 10th 2012 - 09:29 UTC
With hunger, the only acceptable number is ”zero”

By Jose Graziano da Silva, Director General of the UN Food and Agriculture Organization - Achieving the first Millennium Development Goal (MDG) of halving the prevalence of hunger in the world by 2015 is still within reach, but a strong, sustained acceleration of efforts is needed. Progress made in the fight against hunger since the middle of the last decade has lost steam, and it is time to regain momentum.
Wednesday, October 10th 2012 - 09:07 UTC
IMF estimates Argentina 2012 growth below government target but above private forecasts

Argentina will grow 2.6% in 2012 according to the IMF latest World Economic Outlook, which is below the 3.4% estimated by President Cristina Fernandez administration for this year’s budget.
Wednesday, October 10th 2012 - 08:49 UTC
‘Hour of reckoning’ speech for Cameron’s future at Tory conference

Britain must cut its budget deficit and fix its economy or face long-term decline, Conservative Prime Minister David Cameron will say on Wednesday, seeking to convince voters that his austerity plan is the only way forward.