The Executive Board of the International Monetary Fund selected on Tuesday Christine Lagarde to serve as IMF Managing Director and Madame Chairman of the Executive Board for a five-year term starting on July 5, 2011.
House prices in some parts of Rio are up nearly 80% in the past year,” says Ronaldo Coelho Netto, an estate agent in Rio de Janeiro, looking up at a new development near the city centre.
Foreign Affairs minister Hector Timerman in Asuncion for the Mercosur summit promised on Tuesday Argentina will put an end to fluvial obstacles to Paraguayan trade. Landlocked Paraguay trades with the rest of the world through the Parana River, most of which crosses Argentine territory.
Japan is attending the Mercosur summit in Paraguay with an eye on proposing the launch of a dialogue to boost bilateral economic relations and explore the possibility of signing a free trade agreement, reports the Japanese news agency Kyodo.
France's Christine Lagarde picked up an endorsement from China Monday, raising her chances to become head of the International Monetary Fund. The IMF board is expected to make the decision between Lagarde, France's Finance minister, and Mexican Central bank chief Agustin Carstens as early as Tuesday.
Brazil’s state-controlled oil company Petrobras discovered natural gas in an onshore field near an area where Brazil plans to auction exploration licenses later this year.
Several cities in the south of Brazil recorded on Monday temperatures below zero Centigrade which caused the death of a man and forced the closure of schools, according to official reports.
Demands by Venezuela's opposition for information on President Hugo Chavez's health grew louder Monday and bond prices rallied on speculation the populist leader could be seriously ill.
Brazil highest magistrate, president of the Federal Tribunal (Supreme Court) Cezar Peluso said he was contrary to the disclosure of records from the recent military dictatorship (1964/1985) as was proposed by President Dilma Rousseff.
The Mercosur summit will be an opportunity to solve asymmetry problems and social inequalities in the region, said Paraguay’ Foreign Affairs minister Jorge Lara Castro. The South American customs union is meeting this week in Asuncion for the first of two annual summits when the rotating chair will be passed on to Uruguay.