The Argentine government said on Tuesday it will sanction heavily the local unit of Spanish Telecommunications Company Telefonica SA mobile phone service provider after a service disruption left more than 16 million clients without phone and data service for several hours.
China’s central bank Governor Zhou Xiaochuan said the US Federal Reserve must consider responsibility of the global effects of its actions as emerging-market economies suffer from capital inflows.
Spain says its national debt will spiral sharply higher this year as data showed unemployment hit a record high in March, complicating efforts to stabilise the country's strained finances.
According to a special report published Tuesday on Brazil, Fitch Ratings believes that the country's current slowdown is cyclical in nature and that economic growth is likely to return to its potential rate.
Uruguay’s credit rating was raised one level by Standard & Poor’s, which means the country has returned to investment grade for the first time in a decade.
Brazilian farmers will likely plant at least 26.2 million hectares with soybeans in the next crop, up 1.1 million hectares from the current 2011-12 crop, forecaster Agroconsult said Tuesday.
Shares in Argentina's biggest energy company, YPF plummeted on Tuesday because of growing investor fear over a possible government plan to seize control of the oil firm.
Brazil announced on Tuesday tax cuts and other stimulus measures worth about 65 billion Reais (35 billion dollars) to protect the country’s struggling industry from what she said were “predatory” trade practices by rich nations.
In the last two years inflation in Latin America has stabilized varying between 6% and 7%, according to the latest monthly report from the FAO (Food and Agriculture Organization) regional office.
In a statement entitled “Why we still want to work with Argentina”, commemorating the 30th anniversary of the South Atlantic conflict, Foreign Secretary William Hague, stressed UK’s eagerness to work with Argentina on several aspects surrounding the Falkland Islands issue.