MercoPress

Beware inflation: CFK announces “political groups” will keep track of prices in shops

Thu, 23 May 2013 07:20:00 GMT

Argentine President Cristina Fernández (CFK) indirectly acknowledged that inflation has become a major challenge for her government despite the fact that the official reading in twelve months is 10.6%, even when private estimates indicate 24% and expectations have soared to 34%.

Europe’s three largest economies call for stricter rules on corporate tax avoidance

Thu, 23 May 2013 07:16:00 GMT

Britain, France and Germany called for stricter rules to stop companies such as Google, Apple and Amazon aggressively avoiding taxes in austerity bitten Europe, while acknowledging they had done nothing unlawful.

Cristina Fernandez administration limits overseas dollar extractions to a minimum

Thu, 23 May 2013 07:01:00 GMT

Continuing with the so called ‘dollar clamp’ Argentine institutions issuing credit cards will further limit the extraction of dollars from automatic cashiers: travellers to neighbouring countries will only be allowed 100 dollars every three months and those visiting non neighbouring countries, 800 dollars per month.

Rest cool, toilet paper is on the way for the beleaguered Venezuelan consumers

Thu, 23 May 2013 02:13:00 GMT

Venezuela's National Assembly approved a 79 million dollars credit for the import of toilet paper, toothpaste and soap. The measure comes after Venezuela hit the news with its dire toilet paper shortage.

Argentine ports strike stalls oilseed and grains exports at peak harvest time

Thu, 23 May 2013 02:10:00 GMT

Argentine longshoremen on strike at the peak of summer harvests exports have scores of grains ships delayed in and around due to a three-day-old conflict that threatens to bog down shipments at a time of heightened world demand for South American soy and corn, according to industry sources.

US airline closes 4bn dollars deal with Brazil’s Embraer for 40 commuter aircraft

Wed, 22 May 2013 23:03:00 GMT

United Airlines partner SkyWest Inc. agreed to buy more than 4 billion dollars of Brazil’s Embraer jets as new pilot contracts at the largest carriers allow commuter operators to fly bigger planes.

Uruguay’s booming construction industry anticipates a tough year ahead

Wed, 22 May 2013 18:14:00 GMT

The investment in the construction industry in Uruguay soared 26.45% last year over 2011 and reached seven billion dollars, of which 40% correspond to the Brazilian-Chilean pulp mill, Montes del Plata, the country’s largest investment in years equivalent to 2 billion dollars. However there are storm clouds ahead.

Quarter of Italians edging the poverty line and most youngsters survive thanks to Mon and Dad

Wed, 22 May 2013 18:09:00 GMT

One out of four Italians up to 40 years of age survive with the help of their parents, according to a report on “Youth and the crisis” released this week in Milan. Another report from the Italian national statistics institute (ISTAT) says millions of Italians have or are close to falling below the poverty line.

China/Latam trade expanded 8% in 2012 and region’s deficit jumped to 6.6bn

Wed, 22 May 2013 18:00:00 GMT

Latin America's trade deficit with China jumped to 6.6 billion dollars last year from only 150 million in 2011, according to an analysis by online publication Latinvex based on new data from the IMF. Total trade between China and Latin America grew 8% last year to 255.5bn which means the region’s trade with China is growing faster than with the United States, 6.2%.

“Fed not ready to take its foot off the gas”, Bernanke tells the US Congress

Wed, 22 May 2013 17:55:00 GMT

The Federal Reserve's monetary stimulus is helping the US economy recover, and the central bank needs to see further signs of traction before taking its foot off the gas, central bank chairman Ben Bernanke said on Wednesday.