Argentine president Cristina Fernandez de Kirchner in the midst of a tough battle to retain power in Congress in this month’s mid term election took the political debate to Switzerland where she addressed the annual meeting of the International Labour Organization, (ILO).
The Falkland Islands government has accused Argentina of waging a campaign of economic warfare against it, according to an article in the Sunday edition of The Guardian by Robert Booth.
“The Spanish economy can’t take any more migrant labour” said Spanish Labour Minister Celestino Corbacho in an interview with one of Madrid’s main Sunday newspapers.
The world's largest economies are beginning to stabilise but still face major risks amid an ongoing global recession, according to G8 finance ministers. At a meeting in Italy of G8 nations, the ministers said stock markets were rising, interest rates more stable, and consumer confidence was returning.
As the US President Barack Obama administration slowly inches towards normalizing its relations with Cuba, pressure is mounting on the new president to lift the decades-old, and universally acknowledged, anachronistic embargo.
Australia's resource minister has dismissed threats of sanctions from China against its two largest mining firms Rio Tinto and BHP Billiton.
The world economy is set to contract this year by more than previously estimated, and poor countries will continue to be hit hard by multiple waves of economic stress, said World Bank Group President Robert B. Zoellick.
The Brazilian Central Bank slashed its Selic benchmark interest rate to a record low of 9.25% seeking to bolster spending and reverse recession in Latinamerica's largest economy. The one percentage point cut was the fourth reduction in as many months as policymakers struggle with the impact of the global economic slowdown.
Chinese exports dropped by a record amount in May as demand for its goods from the US and Europe slumped. Exports fell 26.4% from the same month earlier, more than February's previous record drop and imports declined by 25.2%.
Ecuador announced Thursday it had bought back 91% of its “defaulted” bonds via an international auction with drastic rebates of 65% to 70%. The amount involved in the operation was 3.37 billion US dollars.