The latest Uruguayan central bank decision to further hike interest rates is “unlikely to do much to tackle stubbornly high inflation” and contrary to this could end acting as a magnet for foreign capital inflow, “aggravating the very problem it seeks to address”, says Michael Henderson from Capital Economics.
UK Labour leader Ed Miliband has indicated that a threat by banks to move abroad would not deter him from breaking them up if they did not agree to revolutionise their operations and put ordinary customers first.
Unemployment in the Euro-zone hit a fresh high of 18.2 million in August, the EU statistics agency has said. The number out of work rose by 34.000, but after the July data was revised up, it meant the unemployment rate remained stable at a record high of 11.4%.
Luxury super yacht MY Sherakhan, is one of four vessels new to the Falkland Islands visiting in the 2012/13 season beginning next month. More often spotted in the Mediterranean and Caribbean Seas, she also ventures further afield to Patagonia, Antarctica, French Polynesia, Asia, and Panama.
French car maker Renault is considering the complete closure of factories because of the dire state of the European automobile market, the company's chief operating officer was quoted on Sunday.
Former Economy Minister Domingo Cavallo assured that Argentina’s current problems are much more serious, than back in 2001 since nowadays “people are desperate because they want to preserve the value of their savings and the Government does not allow them to do so”.
President Cristina Fernández leaves Monday evening for Peru to participate in the 3rd Summit of South American-Arab Countries (ASPA) leaders, scheduled to take place on October 1st and 2nd in the Ministry of Culture, in the Peruvian capital Lima.
As of next 6 November Chile’s port cities will display their best since on that date the official 2012/13 cruise season begins which extends until mid April and the country has great expectations of recovering a leading position in the region.
Uruguay's central bank raised its benchmark interest rate 25 basis points to 9% on Friday in a bid to cool inflation expectations. The bank had held the rate steady at its last two monthly monetary policy meetings.
The employment and social situation in the EU remained very serious in the second quarter of 2012 with unemployment rising overall but also displaying significant differences between Member States, households' financial situation deteriorating and child poverty increasing, a press release of the European Commission (EC) informs.