Stories for February 28th 2012

Tuesday, February 28th 2012 - 05:12 UTC
Forty million Argentines need to know “what happened and who was responsible”

Argentine President Cristina Fernández reappeared in public on Monday and for the first time talked about the Buenos Aires train station accident in which 51 people were killed and 703 others were injured. She assured that she would make “any decisions necessary” once the matter is resolved in court.
Tuesday, February 28th 2012 - 05:02 UTC
Brazil will cut the benchmark interest rate “to less than 10%” this year

Brazilian central bank survey showing interest rate levels are inconsistent with the country’s inflation target won’t alter policy makers’ strategy of lowering borrowing costs further, bank President Alexandre Tombini said.
Tuesday, February 28th 2012 - 04:21 UTC
Europe’s biggest bank with record profits from operations in Latam and Asia

HSBC Holdings Plc said a 1 billion dollars increase in its wages bill in Brazil, China and other emerging markets was the price of avoiding the stagnant growth which has dogged some rival lenders more dependent on Europe.
Tuesday, February 28th 2012 - 04:18 UTC
President Correa, in lead case, pardons newspaper publishers and former columnist

Ecuador's populist president, Rafael Correa, on Monday pardoned three newspaper publishers and a former columnist who had been sentenced to jail and ordered to pay 40 million dollars damages in a libel case that angered media freedom advocates.
Tuesday, February 28th 2012 - 04:16 UTC
Switzerland asks banking system s to prevent un-taxed assets in their accounts

Switzerland has asked its banks to tighten due diligence process to prevent un-taxed assets in their accounts without violating client confidentiality. The measures come on the back of growing international pressure on Swiss authorities to act against any possible hoarding of illicit and untaxed money in Switzerland-based banks.
Tuesday, February 28th 2012 - 01:58 UTC
Mercosur/Gulf states closer to trade agreement but leaving petrochemicals for later

Brazil is eager to finalize a free trade agreement between the GCC (Gulf Cooperation Council) and the Mercosur bloc but believes the petrochemicals sector will be exempted until further study after the signing, said Brazilian Trade and Industry Minister Fernando Pimentel.
Tuesday, February 28th 2012 - 01:51 UTC
YPF feeling the noose from Argentina; Madrid doing its best to defend Spanish interest

Foreign Affairs minister Jose Manuel García-Margallo assured that the Spanish government “is doing what must be done” to defend the interests of Spanish companies in Argentina, but has avoided releasing details.
Tuesday, February 28th 2012 - 00:27 UTC
EC report on trade and investments criticizes Mercosur protectionism

The European Commission in its latest report on trade and investments complains about Mercosur protectionist policies, restrictions to maritime transport and to the export of commodities particularly from Brazil and Argentina.
Tuesday, February 28th 2012 - 00:23 UTC
Emerging economies decided to challenge US predominance in the World Bank

Emerging economies said on Sunday that they will challenge a tradition that has placed an American at the head of the World Bank for decades, as the President Obama administration shows sensitivity to the need for change at global institutions.