Economy

Sunday, January 8th 2012 - 05:14 UTC
Spain opens tax evasion “hunting season” and targets 8 billion Euros

Spain’s new Conservative Government announced this week a wide ranging plan against fiscal fraud and tax evasion by which it hopes to recoup over 8 billion Euros for treasury coffers in 2012 alone. And it has also announced it will be engaging countries which have ceased to be tax-havens in order to step up the Government’s efforts against tax evasion in Spain.
Friday, January 6th 2012 - 07:10 UTC
Ford launches Brazil designed EcoSport to be marketed in 100 countries

The Brazilian subsidiary of automaker Ford has unveiled a new version of its EcoSport SUV and says it will be sold in close to 100 countries. The car was introduced Wednesday in the Brazilian capital and at the Auto Expo show in New Delhi.
Friday, January 6th 2012 - 07:01 UTC
Spanish banks must set aside 50bn Euros to cover ‘toxic’ real estate assets

Spain's Conservative government ruled out a bad bank to deal with toxic property assets, wary of adding more debt to a nation fighting to control its deficit and putting the onus on lenders to make their own provisions.
Friday, January 6th 2012 - 06:45 UTC
Heavy rains and mudslides threaten Rio do Janeiro; 35.000 residents displaced

Brazil's Rio de Janeiro state placed emergency teams on maximum alert as heavy rains that have displaced 35.000 residents were forecast to continue, reviving fears of mudslides and flooding that killed about 900 people last year.
Thursday, January 5th 2012 - 05:33 UTC
In a decade Brazil must increase power generating capacity by 56%

Brazil must expand electricity production over the next decade by an amount equivalent to the power generated by three Itaipú hydroelectric dams, according to a study released Wednesday by the state-run Energy Research Corporation, EPE.
Thursday, January 5th 2012 - 05:28 UTC
Paraguay declares sanitary emergency because of outbreak of FMD

Paraguay declared on Wednesday animal sanitary emergency in the district of San Pedro, 400 kilometres north of the capital Asuncion where this week an outbreak of foot and mouth disease was confirmed in a farm.
Thursday, January 5th 2012 - 05:21 UTC
Brazil last year had the second-largest inflow of dollars: 65.2bn

Brazil last year recorded the second-largest dollar inflow in its history, 65.2 billion dollars, up 168% from 2010, with most in the form of foreign investment, the Central Bank said on Wednesday.
Thursday, January 5th 2012 - 05:08 UTC
EU slower December inflation could be followed by more interest rate cuts

Euro zone inflation eased from last year's peaks of 3.0% in December, the first sign of a fall in price growth this year that analysts expect will create room for more interest rate cuts to help the weakening economy.
Thursday, January 5th 2012 - 05:05 UTC
Belgian board member named chief economist of European Central Bank

European Central Bank has named Belgian executive board member Peter Praet as its chief economist following the resignation of Juergen Stark.
Wednesday, January 4th 2012 - 18:15 UTC
Top IMF economist warns of credit squeeze for Latam if Euro crisis worsens

Latin American economies face a recession and a credit squeeze if Europe's debt crisis worsens, director of the IMF Western Hemisphere Department Nicolas Eyzaguirre said on Wednesday.