Economy

Economy
Tuesday, April 22nd 2014 - 06:45 UTC

US Supreme Court inclined to limit disclosure of Argentine non-US assets

Chief Justice Roberts Jr. said that request went too far, “how many jet fighters Argentina happens to have”

US Supreme Court justices seemed to indicate on Monday that creditors should be able to seek limited information about Argentina's non-US assets in a case stemming from long-running litigation over Argentina's obligations to hedge bond investors. The US administration of President Barack Obama sided with Argentina based on the foreign sovereignty immunity act.

Tuesday, April 22nd 2014 - 06:26 UTC

Brazil and Argentina clash over auto-export restrictions; top level mission heads for Buenos Aires

Cristina Fernandez had to cancel a trip to Sao Paulo to open the Argentina House because Dilma could not attend

A high level Brazilian government delegation is scheduled to arrive in Buenos Aires on Tuesday to discuss the 'urgent' re-opening of the Argentine market for Brazilian auto exports that have dropped 32% since the beginning of the year because of unilateral decisions from the administration of president Cristina Fernandez.

Monday, April 21st 2014 - 07:25 UTC

China's main soy-bean importers in concerted action to bring prices down

It's soybean harvest time in South America and silos are binging

Chinese buyers may default on a further 1.2 million tons of soybeans worth about 900 million dollars being shipped from the United States and South America, to avoid incurring huge losses in a depressed local market, the country’s top soy buyer said.

Monday, April 21st 2014 - 07:06 UTC

Argentine bonds' case reaches US Supreme Court; support from Obama administration

US Deputy Solicitor General Edwin Kneedler is expected to argue that lower court rulings “undermine sovereign immunity”

The US government will stand before the Supreme Court on Monday in support of Argentina's position in its ongoing legal fight with bond investors over a ruling which forces banks in New York, with which Argentina does business, to disclose information about the country's non US assets, as investors seek repayment.

Monday, April 21st 2014 - 06:24 UTC

Argentina and Paraguay have Mercosur delayed summit in their bilateral agenda

Timerman and Loizaga are scheduled to meet this Monday

Argentina's Hector Timerman and Paraguay's Eladio Loizaga will be meeting Monday in Asunción to address among other issues the three times delayed Mercosur summit, which should take place in Venezuela, and must be decided before next June when the group's six-month chair again rotates.

Thursday, April 17th 2014 - 08:15 UTC

Brazilian economy expanded at an annualized 1.63% in February

Brazil's GDP grew 2.3% in 2013, while the IBC-Br index showed economic growth of 2.5%.

Brazil's economy grew at a 0.24% rate in February, compared to the previous month, the Central Bank said Wednesday. The Central Bank's Index of Economic Activity indicates that the economy grew 1.63% in February, compared to February 2013, while year-on-year growth was 2.41%, up from the 2.29% figure reported in the previous month.

Thursday, April 17th 2014 - 08:12 UTC

Brazil's chief banker forecasts inflation will come down in coming months

“We have worked for inflation to once again remain compatible with the inflation target”, said Tombini

Food prices in Brazil have started to ease and should bring inflation down in coming months, central bank chief Alexandre Tombini said on Wednesday, reinforcing views that policymakers are ready to wrap up their year-long campaign of rate hikes. He reiterated that a significant part of the impact of past rate increases on inflation has yet to be felt.

Thursday, April 17th 2014 - 07:47 UTC

Yuan is 'significantly undervalued' US Treasury tells China

A stronger Chinese Yuan will make foreign imports cheaper

United States has told China its currency must be allowed to rise if it and the global economy are to see stable growth. The US Treasury's twice-yearly report to policymakers says the Yuan is “significantly undervalued”.

Thursday, April 17th 2014 - 04:58 UTC

China's economy expands 7.4% in first quarter and retail sales in March 12.2%

Beijing has taken steps to prop the domestic market and spending in the railway system

China's economy expanded by 7.4% in the first quarter of the year, better than what many were expecting, but it is a slowdown from 7.7% growth in the final quarter of last year. Other data released with the gross domestic product (GDP) figure showed industrial output rising 8.8% in March from one year ago.

Thursday, April 17th 2014 - 04:53 UTC

For third consecutive month UK inflation stands below the 2% target rate

 The largest contribution in March came from the fall in petrol prices

The UK inflation rate as measured by the Consumer Prices Index (CPI) fell to 1.6% in March from 1.7% in February, according to the Office for National Statistics (ONS). It is the third consecutive month inflation has been below the Bank of England's 2% target rate, and the lowest rate since October 2009.

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