The US dollar in Argentina’s parallel market soared on Tuesday as strong unsatisfied demand moved to the so called ‘blue’ market as a result of the increasing controls for the purchase of the greenback.
Brazil this week escalated a growing trade fight with Argentina by increasing the bureaucratic obstacles for importing about 10 perishable products including apples, raisins, and potatoes, a senior Brazilian government official was quoted by the media.
The long-delayed free-trade deal between Colombia and the United States came into force on Tuesday, a step that should boost the country’s exports and foreign investment, President Juan Manuel Santos said.
The Brazilian government has plans to cut and simplify taxes for electricity producers and distributors as part of a strategy to reduce Brazil's high business costs and stimulate its struggling economy, reports Reuters.
The Brazilian Real dropped past 2 per dollars for a second day as President Dilma Rousseff said it has been “extremely overvalued,” encouraging speculation the currency of Latin America’s biggest economy may fall further.
An exit of Greece from the Euro zone could cost the French taxpayer up to 66.4 billion Euros and saddle the country's banking system with 20 billion Euros in lost loans, according to a study published on Tuesday.
France's economy stalled in the first quarter as household consumption flat lined, businesses pared back investment and exports slowed, underlining the challenge facing Socialist President Francois Hollande who took office on Tuesday.
Socialist Francois Hollande is to be sworn as France's president Tuesday before naming a prime minister and dashing to Germany to battle with Berlin over how to tackle Europe's debt crisis.
Brazil’s Real tumbled to 2 per dollar for the first time in almost three years as Finance Minister Guido Mantega said the exchange rate doesn’t worry the government, opening expectations the currency may fall further.
The European Union has agreed to file a trade suit against Argentina's import restrictions with the World Trade Organization (WTO), a senior Spanish government source said on Monday, reports Reuters.