Over the past decade China has become a key partner for Latin America and the Caribbean with bilateral trade increasing 22 fold between 2000 and 2012, albeit with a strong deficit for Latin American countries, according to Alicia Bárcena, Executive Secretary of the UN Economic Commission for Latin America and the Caribbean.
“A recent decision by a United States appeals court threatens to upend global sovereign-debt markets. It may even lead to the US no longer being viewed as a good place to issue sovereign debt. At the very least, it renders non-viable all debt restructurings under the standard debt contracts.
Advanced economies led by the United States will increasingly drive global growth while emerging countries are at risk of slowing due to tighter US monetary policy, the IMF said in a note according to Reuters news agency.
Microsoft has agreed a deal to buy Nokia's mobile phone business for 5.4bn Euros. Nokia will also license its patents and mapping services to Microsoft. Nokia shares jumped 35% on the news, whereas Microsoft's fell more than 5%. The purchase is set to be completed in early 2014, when about 32.000 Nokia employees will transfer to Microsoft.
Argentine President Cristina Fernández left on Tuesday for Russia to attend the G20 summit to begin next Thursday at the Constantine Palace in Saint Petersburg. The president flew on her office’s Tango 01 to Morocco where she changed aircraft to avoid any possible injunction from hedge funds on the presidential transport.
Spanish Foreign minister Jose Manuel Garcia-Margallo addressing parliament on Tuesday described the current diplomatic conflict with the UK as an ‘important fire’ and blamed it on three apparently minor incidents: Gibraltar authorities having dropped the agreement with Spanish fishermen a year ago; the recent dumping of cement blocks in the bay of Algeciras (Gibraltar) and the construction of a new reef.
The US National Security Agency also intercepted text messages by Mexico’s Enrique Peña Nieto in which the then-presidential front-runner discusses two possible cabinet picks, journalist Glenn Greenwald said on Sunday night’s show ‘Fantastico’, citing a 24-slide presentation. Peña Nieto assumed office in December 2012.
Brazilian president Dilma Roussef is considering at least three reactions to the US government following allegations that the US National Security Agency, NSA, spy program targeted the president, her ministers and advisors as revealed by the O Globo television program ‘Fantastico’. Earlier on Monday US Ambassador Thomas Shannon was summoned by Foreign minister Luiz Alberto Figuereido.
Vodafone has sold its 45% stake in Verizon Wireless to US telecoms group Verizon Communications in one of the biggest deals in corporate history. The 130bn dollars deal was announced by Vodafone after the close of trading on the London Stock Exchange.
The Chilean government replied strongly to suggestions from Cristina Fernandez referred to President Sebastian Piñera and his personal fortune saying that in Chile ‘the president and high officials once elected must abide by rules of transparency” and that is why the president voluntarily agreed to sell his stake in LAN airlines before taking office to avoid a conflict of interests.