Stories for May 2011

Friday, May 27th 2011 - 12:38 UTC
Impact investment fund targeting low-cost housing in Brazil launches in London

Origen Private Equity Ltd., a boutique investment firm headquartered in London, is launching in June what is set to be the first impact investment fund developing low-cost housing in north-east Brazil in conjunction with the Brazilian government's Minha Casa Minha Vida programme.
Friday, May 27th 2011 - 09:26 UTC
Defence minister denies Argentina is “obstructing” the Falklands economy

Defence minister Arturo Puricelli denied Thursday that Argentina was obstructing the economy of the Malvinas Islands as claimed by Falklands’ governor Nigel Haywood in his state of the nation speech to the elected Legislative Assembly of the Islands.
Friday, May 27th 2011 - 09:24 UTC
Pimentel anticipates more ‘active measures’ to defend Brazil’s industry

The Brazilian Government announced that it is considering additional import restrictions on top of the ones already applied to vehicles, as a measure to defend their national industry.
Friday, May 27th 2011 - 09:15 UTC
Lamy calls G20 not to fall prey of protectionism; points to Russia and Argentina

World Trade Organization Director General Pascal Lamy warned world leaders that adopting protectionist measures can have “devastating effects” on the global economy. Addressing the G 20 group Lamy called on the leaders to resist “the temptations of protectionism”.
Friday, May 27th 2011 - 09:11 UTC
Top economists anticipate ‘restructuring’ of Greek debt or ‘booting’ out of the Euro

Nouriel Roubini, the New York University economist known as Dr Doom, says Greek restructuring would not bring down Europe's financial system. The economist, who earned his nickname by predicting the global financial crisis, says an orderly debt restructuring could pre-empt more trouble.
Friday, May 27th 2011 - 08:58 UTC
Chavez sacks half of PDVSA board following a 500 million USD fraud

Venezuela’s government giant oil corporation sacked half its board of directors Thursday after PDVSA ’s pension fund lost about 500 million US dollars in a Ponzi scheme linked to a Connecticut-based investor.
Friday, May 27th 2011 - 08:48 UTC
Real estate operations in Punta del Este reached 2.25 billion USD in 12 months

Real estate operations in Uruguay’s hottest resort and leisure farms’ area totalled 2.55 billion US dollars in the twelve months to April 2011, equivalent to daily deals involving 7 million USD.
Friday, May 27th 2011 - 08:44 UTC
Roubini forecasts Uruguay needs additional measures to contain inflation

Roubini General Economics, RGE, founded by Nouriel Roubini the economist described as Dr. Doom for having predicted long before his peers the US financial and mortgage crisis said the Uruguayan government must apply additional measures to higher rates and bank reserves, to help contain inflation.
Friday, May 27th 2011 - 08:32 UTC
Unasur ‘won’t collapse’ as happened with TIAR during the Malvinas war

Argentine President Cristina Fernandez de Kirchner praised the success of Unasur and forecasted that the South America Defence Council will be far more effective and robust than the previous experience with the TIAR, which “collapsed in 1982 during the Malvinas war”.
Friday, May 27th 2011 - 08:20 UTC
Argentina bans hake and squid fisheries; Auditing office confirms over-fishing

Argentina suspended the hake season in the south of Patagonia and banned squid operations following on scientific reports of over fishing that have considerably limited catches of both species said industry sources following an official audit which questions government fisheries controls.