Argentina currently consumes more than it produces and only with strong growth can it avoid another default situation since liabilities continue to increase, warns economist Diana Mondino.
Seven out of ten Argentine cars that cross to Chile return home with electronic devices and home appliances bought in some Chilean city, according to a report from the Buenos Aires daily La Nación.
Greece approved bitter new austerity measures on Tuesday, slashing the minimum wage and chopping pensions as Athens began implementing measures demanded by international lenders in return for a 130 billion Euro rescue package.
The Buenos Aires media, basically the ambito.com site reports that Argentine industry and business leaders were contacted by the Ministry of Industry which tried to persuade them from buying British supplies.
Santiago de Chile has the highest skyscraper in South America: the Gran Torre Costanera reached this condition when it surpassed the 300 metres height. The 107.125 square metres block has been designed by Chilean architects Alemparte, Barreda & Associates together with Pelli, Clarke, Pelli Architects, responsible for the Petrona Towers in Kuala Lampur.
Brazilian central bank survey showing interest rate levels are inconsistent with the country’s inflation target won’t alter policy makers’ strategy of lowering borrowing costs further, bank President Alexandre Tombini said.
HSBC Holdings Plc said a 1 billion dollars increase in its wages bill in Brazil, China and other emerging markets was the price of avoiding the stagnant growth which has dogged some rival lenders more dependent on Europe.
Brazil is eager to finalize a free trade agreement between the GCC (Gulf Cooperation Council) and the Mercosur bloc but believes the petrochemicals sector will be exempted until further study after the signing, said Brazilian Trade and Industry Minister Fernando Pimentel.
Foreign Affairs minister Jose Manuel García-Margallo assured that the Spanish government “is doing what must be done” to defend the interests of Spanish companies in Argentina, but has avoided releasing details.
The European Commission in its latest report on trade and investments complains about Mercosur protectionist policies, restrictions to maritime transport and to the export of commodities particularly from Brazil and Argentina.