Economy

• Tuesday, June 19th 2012 - 06:16 UTC

  Largest emerging-market nations will make additional contribution to IMF

  

  The world’s largest emerging-market nations will announce contributions to the IMF’s financial firewall at the Group of 20 summit meeting in Mexico, Brazil’s Finance Minister Guido Mantega announced.

• Tuesday, June 19th 2012 - 01:30 UTC

  PM Cameron accuses Argentina of colonialism and protectionism ahead of G20

  

  British Prime Minister David Cameron has fired a broadside at Argentina ahead of the opening of the G20 summit in Mexico, accusing the country of colonialism over the Falklands and protectionism in world trade.

• Monday, June 18th 2012 - 07:32 UTC

  Peru announces 28bn dollars in mining projects despite growing social unrest

  

  The Peruvian government has approved private mining projects worth 28 billion dollars out of 52 billion dollars of projects planned over the next five years, Peru's Energy and Mines Minister Jorge Merino said.

• Monday, June 18th 2012 - 07:12 UTC

  Europe’s richest man is Spaniard Amancio Ortega, owner of Zara clothing chain

  

  Just as Spain asked Europe for a bailout of 125 billion Euros, Amancio Ortega, the septuagenarian Spaniard who founded retailer Inditex SA became the region’s richest man.

• Monday, June 18th 2012 - 07:06 UTC

  France defies Germany proposes 120bn Euros “pact for growth” to EU leaders

  

  French President Francois Hollande has proposed a 120 billion Euro “growth pact” ahead of key talks with Euro zone leaders, newspaper Le Journal du Dimanche reported on Sunday.

• Monday, June 18th 2012 - 03:24 UTC

  Brussels willing to soften austerity measures for the Greek pro-bail out government

  

  European governments signaled a willingness to relent on Greece’s austerity measures as leaders turn from an election victory by Greek bailout proponents to focus on safeguarding the other 98% of the Euro economy

• Monday, June 18th 2012 - 03:18 UTC

  Frozen fuel prices make it difficult for Petrobras to engage in ambitious development program

  

  Brazil's state-led oil company Petrobras is likely to struggle to find the cash to pay the recently announced world's largest corporate investment program. The country needs money to pay hundreds of ships and dozens of oil fields, drill-rigs and platforms it wants in order to catapult Brazil into the ranks of the world's top-four oil producers by 2020.

• Monday, June 18th 2012 - 01:12 UTC

  European crisis could reduce Latin America’s growth prospects by 40%

  

  An aggravation of the European crisis could reduce growth prospects in Latin America up to 40%, said the Inter American Development bank president Luis Alberto Moreno, particularly because of the influence of European financial institutions in the influx of capital to the region.

• Monday, June 18th 2012 - 01:02 UTC

  UN calls to join ‘Save Food’, an initiative to cut down on food losses and waste

  

  The United Nations Food and Agriculture Organization (FAO) and key partners called on companies and organizations around the world to join in SAVE FOOD, a global initiative designed to cut down on food losses and waste.

• Saturday, June 16th 2012 - 06:01 UTC

  UN Economic commission forecasts 3.7% growth in Latam and Caribbean this year

  

  The latest ECLAC report, “Macroeconomic report on Latin America and the Caribbean, Jun 2012” shows that activity in the first months of this year has been stronger tan in the second half of 2011 despite considerable global uncertainty and volatility.
  The report estimates Latam and Caribbean growth for this year at 3.7% compared to 4.3% in 2011.