Stories for March 20th 2012

Tuesday, March 20th 2012 - 05:02 UTC
WB backs selective use of capital controls when faced with massive inflows

The World Bank’s new Latin America chief backed selective use of capital controls when inflows were creating asset bubbles or distorting foreign exchange markets. Hasan Tuluy, the Bank’s new vice-president for Latin America and the Caribbean, said while trade protectionism should be avoided, there was space for macro prudential measures.
Tuesday, March 20th 2012 - 04:55 UTC
Brazil is fastest growing travel and tourism economy in Latam; 7.8% in 2012

Brazil is Latin America’s fastest-growing travel and tourism economy and direct contribution to GDP is forecast to grow at 7.8% in 2012.
Tuesday, March 20th 2012 - 04:51 UTC
Peru cancels HMS Montrose visit in support of Argentina’s Falklands claim

In a display of “Latin American support for Argentina’s legitimate rights,” the Peruvian government announced on Monday its decision to render void the protocol visit of a British frigate scheduled to dock in a Peruvian port this week.
Tuesday, March 20th 2012 - 04:46 UTC
Australian Senate approves law to tax 30% iron ore and coal mining companies

The Australian Senate has pushed through into law a 30% tax on iron ore and coal mining companies. The tax will raise A$10.6bn (11.2bn dollars) over three years from major companies including BHP Billiton, Rio Tinto and Xtrata.
Tuesday, March 20th 2012 - 01:24 UTC
Rousseff administration will promote “buy Brazilian” policy to defend industry

“As of this year Brazil will follow the US example giving a 25% margin of preference to local goods in government procurement”, said Fernando Pimentel, Minister for Development, Industry and Foreign Trade.
Tuesday, March 20th 2012 - 01:19 UTC
Drought punishing soy crops and yields in southern Brazil

Drought over Brazil's southern soy growing states prompted analysts Agroconsult to strike 2.8 million tons from its forecast of the 2011/12 crop to 67.1 million tons from 69.9 million previously.
Tuesday, March 20th 2012 - 01:16 UTC
Argentine truckers call for indefinite strike as soy bean crop was taking off

Argentina’s truckers called Monday an indefinite strike to demand higher pay rates, parking their rigs in protest just as exporters were counting on them to haul freshly harvested soybeans to port.
Tuesday, March 20th 2012 - 00:24 UTC
Colombia tells Bolivia it deserves to have access to the Pacific Ocean

Colombia has consistently supported Bolivia in its mission to reclaim a passage to the Pacific Ocean and the country reiterated its support last week during a meeting between the two heads of state in Bogotá.