Economy

Economy
Wednesday, April 16th 2014 - 04:20 UTC

European central bank considering 'further stimulus' if inflation remains low

Draghi hinted that QE, the large-scale purchase of financial assets, may be needed

European Central Bank (ECB) has said it will provide “further stimulus” to the Euro zone economy if inflation in the bloc continues to remain low. Mario Draghi, said a stronger Euro would act as a trigger to looser monetary policy.

Wednesday, April 16th 2014 - 04:15 UTC

Fiat Argentina CEO calls for one digit inflation to help stabilize production

Rattazzi: together with Venezuela and Sudan, Argentina has two digits inflation

Fiat Argentina's CEO Cristiano Rattazzi compared inflation in Argentina with that of Venezuela and Sudan and called on the government of President Cristina Fernandez to bring it down to one digit and help stabilize production costs and exports.

Wednesday, April 16th 2014 - 04:13 UTC

March inflation in Argentina: official 2.6%; opposition index, 3.3%

Kicillof is confident the slowdown in price increases has spilled over to April

Official inflation in Argentina during March was 2.6%, according to Economy minister Axel Kicillof who underlined that during the month there was “a considerable deceleration in the increase of prices”, in most items with the exception of clothing and private schooling.

Wednesday, April 16th 2014 - 04:11 UTC

Lower budget deficits over the next decade forecasted in the US

However as the baby-boom generation retires deficits will begin to rise says the Congressional Budget Office

US budget deficits over the next decade will be 286 billion less than previously estimated, the Congressional Budget Office said on Tuesday, attributing much of the decline to lower estimates of subsidy costs under President Barack Obama's health insurance reform law.

Tuesday, April 15th 2014 - 23:11 UTC

Argentina prepares to celebrate worldwide Malbec Day on 17 April

Malbec Day will be celebrated in New York and London with the Cambalache show

Next 17 April is “World Malbec Day” and for the fourth running year Argentina Wines will be promoting the image of the varietal in over sixty events in 55 different cities in 44 countries. This year the event will be supported by the pleasure of good music with the purpose of attracting young consumers, 25 to 35 year old.

Tuesday, April 15th 2014 - 06:51 UTC

Kicillof downplays Argentina's relation with IMF; Capitanich describes it as 'normal'

“The IMF is not a creditor of Argentina” pointed out the Economy minister

Argentina's Economy minister Axel Kicillof tried to downplay his recent to the G20/ IMF annual meetings held in Washington, saying the country is a regular attendant, and insisting that the country has no agreements with the IMF ”because it’s not an Argentine creditor”. Cabinet chief on the other hand described Argentina's relation with the IMF as 'normal'.

Tuesday, April 15th 2014 - 06:46 UTC

Colombia applying to join OECD but must overcome the environmental performance test

OECD’s Environment Director Simon Upton says Colombia’s strong growth has been driven in part by extraction of oil, metals, minerals and coal for export

Colombia’s rich natural heritage as one of the world’s most bio-diverse countries is coming under increasing pressure from extractive industries, livestock grazing, urbanization and car use, according to the latest OECD report on Environmental Performance Review, which will addressed when talks on Colombia’s accession to the Organization for Economic Cooperation and Development.

Tuesday, April 15th 2014 - 06:41 UTC

Mexico and OECD discussing relations with the Pacific Alliance

Gurría will be opening on Tuesday an international conference on development next to Mexican president Peña Nieto

Mexico's Economy Secretary Ildefonso Guajardo Villarreal and the chairman of the Organization for Economic Cooperation and Development, OECD, José Ángel Gurría Treviño have met to address relations between OECD and the Pacific Alliance, and global value chains.

Tuesday, April 15th 2014 - 06:39 UTC

China buys cash one of Peru's largest copper mines operated by Glencore Xstrata

The deal involved 6bn dollars and the mine is expected to produce 450.000 tons of copper annually

Chinese consortium is buying Glencore Xstrata's copper mine in Peru in a 6bn dollars all-cash deal, marking one of China's largest mining acquisitions. The consortium is led by MMG Limited and includes China's Citic Metal.

Tuesday, April 15th 2014 - 04:01 UTC

White House confirms Uruguay's Mujica will meet President Obama on 12 May

The Uruguayan president will be travelling to Washington on time for the 12 May appointment

The White House confirmed on Monday that President Obama will host his Uruguayan peer Jose Mujica on May 12, highlighting the close partnership with Uruguay and strong leadership of Mujica's administration on human rights, social inclusion and global peace and security.

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