Economy

• Wednesday, February 29th 2012 - 14:35 UTC

  Foreign Office summons Argentine diplomat; limiting trade “counterproductive”

  

  Argentina's top diplomat in Britain was summoned to London's Foreign Office on Wednesday to explain his country's decision to ask 20 leading companies to stop importing British products and supplies.

• Wednesday, February 29th 2012 - 07:41 UTC

  Argentine teachers strike delays school year; four million children remain at home

  

  Almost 60% of Argentina’s school children could not begin the new school year and had to remain at home because of a 48 hours teachers strike following the collapse of salary negotiations.

• Wednesday, February 29th 2012 - 07:24 UTC

  Argentina spending more than it produces; “default situation” can’t be discarded

  

  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.

• Wednesday, February 29th 2012 - 07:14 UTC

  Argentines flood Chile to purchase electronic devices and home appliances

  

  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.

• Wednesday, February 29th 2012 - 07:11 UTC

  Greece slashes minimum wage and pensions to help rescue the Euro

  

  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.

• Wednesday, February 29th 2012 - 01:24 UTC

  Argentina urges industry and business to cut imports from the UK

  

  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.

• Tuesday, February 28th 2012 - 17:37 UTC

  Santiago de Chile has the tallest building in South America

  

  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.

• Tuesday, February 28th 2012 - 05:02 UTC

  Brazil will cut the benchmark interest rate “to less than 10%” this year

  

  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.

• Tuesday, February 28th 2012 - 04:21 UTC

  Europe’s biggest bank with record profits from operations in Latam and Asia

  

  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.

• Tuesday, February 28th 2012 - 01:58 UTC

  Mercosur/Gulf states closer to trade agreement but leaving petrochemicals for later

  

  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.