The Argentine financial deficit soared to 13.5 billion Pesos in the first seven months of the year and could have reached 25.9bn Pesos had it not been for extraordinary resources from Social Security funds and the Central bank, according to the numbers published in the last release from the Central Bank.
International financier George Soros has called for Germany to lead or leave the euro days before a crucial ruling on the Euro zone's bailout fund by Germany's constitutional court. Mr Soros argued that the euro zone should target 5% economic growth.
By Graham Bound - The discovery of a large field of natural gas beneath the seabed south of the Falklands received appropriate coverage in the UK press. Rockhopper Exploration’s agreement with Premier Oil, which is likely to involve an investment by the latter of up to £750m, has also been noticed.
Banking group Lloyds announced on Friday its intention to sell its operations in Uruguay to Banque Heritage (Uruguay) SA in an effort to scale back its international presence.
Bank of Spain figures show that net capital outflows—including bank withdrawals and sell-offs of Spanish stocks and bonds—equaled more than 50% of the country’s economic output over the year ended July 31.
World Bank Group President Jim Yong Kim announced the appointment of Indian national Kaushik Basu as the institution’s new Chief Economist and Senior Vice President.
Chancellor Angela Merkel defended the European Central Bank on Friday after its plan to buy the debt of troubled Euro zone states stirred outrage in Germany and threats from some in her own party to try and block the scheme.
Europe's trade chief threatened to take Russia to the World Trade Organization over a string of restrictive practices, saying Moscow needed to play by the rules now it was a member of the global body.
US President Barack Obama said on Friday the labour market is not hiring workers fast enough, following the release of a government report that showed weaker-than-expected employment figures.
Brazil will cut energy costs for companies and consumers while pressuring banks to lower lending rates to accelerate growth, said President Dilma Rousseff in a speech on national television to commemorate the country’s independence.