Stories for May 2011

Tuesday, May 31st 2011 - 08:32 UTC
CFK praises Mexico and thanks Calderón for understanding Argentine trade policy

Argentine President Cristina Fernandez de Kirchner, CFK, described relations with Mexico as “splendorous” and said links are solid because both countries “have helped each other through out difficult times in history”.
Tuesday, May 31st 2011 - 08:22 UTC
Industry ministers meet in Brasilia to address Argentina/Brazil trade differences

Argentine Industry Minister, Debora Giorgi, and her Brazilian counterpart Fernando Pimentel will meet this Thursday in Brasilia in order to discuss a possible solution for the trade conflict currently affecting Brazil and Argentina
Tuesday, May 31st 2011 - 08:18 UTC
Germany plans to shut all nuclear reactors by 2022 and double renewable energy to 35%

Germany plans to shut all nuclear reactors by 2022, Chancellor Angela Merkel's ruling coalition announced Monday, in a policy reversal drawn up in a rush after the Fukushima disaster in Japan.
Tuesday, May 31st 2011 - 08:13 UTC
Fiat was saved from collapse by sales in Latin America admits CEO Marchionne

Fiat and Chrysler Group president Sergio Marchionne said on Monday that car sales in Latin America saved the corporation’s balance sheet last year and announced an overall increase in car sale operations in accordance with regional demand.
Tuesday, May 31st 2011 - 08:06 UTC
Strong tendency to lower inflation in coming months is forecasted in Brazil

Brazil Central Bank head of Monetary Policy Aldo Mendes anticipated Monday that inflation in the coming two/three months will be almost flat, close to zero and supported his forecast on the food prices inflexion tendency.
Tuesday, May 31st 2011 - 07:58 UTC
Hyundai Group signs agreement to build industrial lifts plant in Brazil

The first Asian factory of industrial and residential lifts in Brazil will be built in the southern state of Rio Grande do Sul, it was announced Sunday in Seoul, Korea by the Hyundai Group.
Tuesday, May 31st 2011 - 07:47 UTC
Brazil plans massive infrastructure investment in next four years

Brazil’ president of the Economic and Development Bank, BNDES, Luciano Coutinho said that the country’s investment rate in the coming four years will be equivalent to 23% of GDP, sufficient to ensure a sustained robust long term growth of Latin America’s largest economy.
Tuesday, May 31st 2011 - 07:43 UTC
China: Yuan at record high against US dollar; Power shortage and higher prices

China's Yuan has hit a record high against the US dollar after the US Treasury department said the Chinese currency was undervalued but not manipulated. The People's Bank of China (PBOC) fixed the Yuan's mid-point at 6.4856 against the US dollar on Monday.
Tuesday, May 31st 2011 - 07:39 UTC
Blatter denies FIFA crisis, admits ‘great image damage’ by corruption allegations

Sepp Blatter has insisted that Fifa is not in crisis, despite the “great damage” done to its image by ongoing corruption allegations. “Football is not in a crisis, only some difficulties,” said the Fifa president.
Tuesday, May 31st 2011 - 07:32 UTC
Argentine provincial elections confirm support for President Cristina Fernandez

“This victory belongs to the President (Cristina Fernandez de Kirchner)” said governor elect of the Argentine province of La Rioja, Luis Beder Herrera after he swept with 67% of ballots in Sunday’s election.