Monsanto, the world's largest seed company won a one billion dollars victory over its arch rival in a lawsuit concerning patents in the agricultural seed market. The victory, concerning genetically modified seeds that allow crops to tolerate weed killer, should have little immediate impact in that lucrative marketplace.
Standard Chartered bank illegally schemed with Iran to launder as much as 250bn dollars for nearly a decade, a US regulator says. The New York State Department of Financial Services said that the bank hid 60.000 secret transactions for Iranian financial institutions that were subject to US economic sanctions.
China's central bank said on Sunday it will strengthen the fine-tuning of its monetary policy in the second half of this year, indicating as many analysts believe that more liquidity may be injected into the world's second largest economy.
Federal Reserve Chairman Ben Bernanke said that although broad measurements of the United States economy point to recovery, many people and businesses are facing tough times.
The strict and tightening US dollar purchase restrictions imposed in Argentina were clearly exposed in the banking system dollar deposits and loans during the last week of July when they dropped 3%, having accumulated 43% in the last few weeks, according to official data from the central bank.
Argentina and Brazil will experience an economic slowdown this year compared to 2011, while Paraguay, punished by drought and an outbreak of foot and mouth disease, will have the worst performance in Latin America, and Peru the best, according to the Argentine consultants Ecolatina
Argentine Industrial Union head José Ignacio de Mendiguren says he wholeheartedly agrees with President Cristina Fernández criticism to those who back a devaluation of the Peso, in an interview with Ambito.com.
The slowdown in Latin America’s once booming economies could take a heavy toll on profits for Spanish and Portuguese companies whose two-decade investment spree abroad has provided a lifeline during a deepening crisis at home.
Chile is expecting an increase of 30% in the number of cruise vessels calls this coming season with Puerto Montt and Punta Arenas receiving the most, said the country’s Under Secretary for Tourism Jacqueline Plass.
Falkland Islands port facilities are under assessment given the prospects of oil industry activities in the near future and two options are being considered by the local government: a new port project, and an interim development of the current facilities at FIPASS.