The Brazilian Executive Public Ethics Committee will investigate alleged corruption claims involving Development, Industry and Foreign Trade minister Fernando Pimentel. Jose Paulo Sepulveda Pertence said the investigation will focus on media reports that exposed Pimentel activities as business consultant for private companies in 2009 and 2010.
Gold demand struck 14-year highs in 2011, driven by record investment, buying in China, which could overtake India this year as the world's top consumer, and central bank purchases, which hit their highest in at least 40 years, according to a report on Thursday.
Nicaragua’s Central Bank President Antenor Rosales quit following a disagreement with President Daniel Ortega over the use of foreign currency reserves to fund a regional bank for the Venezuelan-led bloc of eight nations known as Alba, (Bolivarian Alternative for the Americas).
Moody's warned Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the Euro zone government debt crisis is spreading throughout the global financial system.
Brazil will cut 55 billion Reais (32 billion dollars) from this year’s budget to allow interest rates to fall, while increasing investment to boost growth in the world’s second-biggest emerging market.
Brazil urged the World Bank on Wednesday to give proper consideration to developing country candidates to replace outgoing president Robert Zoellick and not just go with an American.
TAM, Brazil's largest airline, reported a fourth-quarter profit on rising ticket prices, fanning expectations of more profitable operations in the year ahead despite recent cost pressures.
Argentina’s Energy Institute, IAE, warned that the country faces an “unprecedented energy crisis” with strong drops in hydrocarbons reserves, production and the loss of self sufficiency.
Oil World cut its forecast for Brazil and Paraguay soybean production, extending the run of downgrades amid ideas that rains in the last two weeks has been insufficient to put a hold on crop losses.
Brazil imposed additional levies on the import of blankets from Mercosur associates Paraguay and Uruguay alleging triangulation of Chinese textiles, which are restricted because of dumping practices.