Stories for November 23rd 2011

Wednesday, November 23rd 2011 - 23:07 UTC
WTO cuts world’s export growth to 5.8%; warns on unilateral actions

The World Trade Organization slashed its forecast for the world’s export growth to just 5.8% for the year, down from 6.5%. WTO Director-General Pascal Lamy, in his annual report said that world trade has slowed “considerably” in recent months.
Wednesday, November 23rd 2011 - 23:04 UTC
Brazil suspends Chevron drilling rights until it clarifies the recent oil spill

Brazil's National Oil Regulator (ANP) said on Wednesday that it is suspending the drilling rights of US oil major Chevron in national territory until it clarifies conditions of the recent oil spill in its Frade field.
Wednesday, November 23rd 2011 - 20:40 UTC
EU top diplomat calls for strategic link with Latinamerica and announces trip to the region

The European Union High Representative for Foreign Affairs Catherine Ashton described relations with Latinamerica as ‘strategic’ and called for an intensification of political dialogue with the region of which the EU is the main foreign investor.
Wednesday, November 23rd 2011 - 20:37 UTC
Brazil expects a flat third quarter but a strong recovery by end of the year

The performance of the Brazilian economy during the third quarter “could very well be flat” according to Nelson Barbosa the second most important man behind Guido Mantega in the Finance ministry.
Wednesday, November 23rd 2011 - 20:33 UTC
Berlin and Paris again clash over ECB; Euro confidence crisis on German shore

Germany and France again on Wednesday over whether the European Central Bank should take bolder steps to stem the Euro zone debt crisis, with Chancellor Angela Merkel issuing one of her starkest warnings yet against fiddling with the central bank's strict inflation-fighting mandate.
Wednesday, November 23rd 2011 - 20:29 UTC
Buenos Aires gains increasing popularity as gay destination by the pink press

Argentina’s capital Buenos Aires has gained increasing popularity as a gay destination, largely due to recent liberalization laws which have supported gay and lesbian lifestyles, reports Pink Choice.
Wednesday, November 23rd 2011 - 20:23 UTC
Weaker currency helps Brazil recover strong trade surplus

Brazil posted a trade surplus of 2.355 billion dollars in October, beating forecasts for a third straight month, outpacing imports in the final days of the month following a recovery in global commodities prices.
Wednesday, November 23rd 2011 - 20:19 UTC
Global markets slide overwhelmed by negative news

Global markets fell Wednesday after more evidence emerged that the global economy is faltering fast and that the Euro zone is heading for a recession as the debt crisis spreads to the bigger economies like Italy and Spain.
Wednesday, November 23rd 2011 - 20:07 UTC
Brazil’s Marfrig deeper in the red but beef division manages turnaround

A slump the Brazilian currency Real landed Marfrig deeper in the red despite an improved operating result, lifted by takeovers and better tailoring its beef operations to a shortage of cattle.
Wednesday, November 23rd 2011 - 20:01 UTC
Argentina has great hopes with the Caribbean back in the Latinamerican fold

Argentina has great expectations about the coming summit for the official creation of the Community of Latinamerican and Caribbean states, Celac, scheduled to take place next December 2 and 3 in Venezuela, said Foreign Affairs minister Hector Timerman.