Wines of Argentina are gearing up for its first ever Malbec World Day, a global celebration of Argentina’s ‘hero’ grape variety, according to worldwide drinks industry news Harpers Wine & Spirit.
Argentina's Planning Ministry said Thursday that Canadian mining company Goldcorp Inc. (GG) will invest 850 million US dollars to put into production its Cerro Negro gold project in Santa Cruz Province.
Brazil is aiming for a primary budget surplus of 3.1% of GDP in 2012 as the government tries to put its public accounts back into better shape. Brazil’s economy is expected to grow 5.0% in 2012, compared to a 4.5% growth forecast for this year, according to an outline of the 2012 budget released Friday.
Argentina’s 2011 economic growth forecast was raised to 8% from 5% by Nomura Securities International based on a strong surge from domestic demand and rising commodity prices. Government primary spending is expected to continue since 2011 is electoral year.
Brazil is in the middle of a monetary tightening cycle, central bank President Alexandre Tombini said on Friday, days before the bank is expected to announce a hike in the benchmark lending rate.
China's top customs authority announced Friday that trade with the other four BRICS nations surged by 45.8% to reach 59.9 billion US dollars in the first quarter of this year.
China's foreign exchange reserves exceeded the mark of 3 trillion US dollars for the first time at the end of March 2011, representing an increase of 24% from a year earlier. China retains the world’s leading position in forex reserves, according to data released by the country’s central bank.
Speculative money continues to flow into emerging markets, including China, and the situation is likely to continue over the long term, a top executive of China's largest commercial bank said Friday.
A Brazilian government report indicates that it will be extremely difficult to get most Brazilian airports ready in time for the 2014 World Cup.
Renovation work in 10 of the 13 airports which will be used during the month-long tournament will not be completed in time unless there are changes in the investment plans made by Brazil's airport authority, Brazil's Economic Research Institute said in its study.
Developing nations warned the IMF on Thursday against imposing new rules dictating how they manage capital inflows rushing into their economies, suggesting rich nations take a hard look at their own policies instead.