Stories for May 25th 2012

Friday, May 25th 2012 - 16:10 UTC
EU files suit against Argentina with WTO, but it’s a long process

The European Union filed a suit against Argentina's import restrictions with the World Trade Organization (WTO), European Union Trade Commissioner Karel De Gucht announced on Friday.
Friday, May 25th 2012 - 16:07 UTC
Spain’s richest region closer to default without central government aid

Spain's wealthiest autonomous region, Catalonia, needs financing help from the central government because it is running out of options for refinancing debt this year, Catalan President Artur Mas admitted on Friday.
Friday, May 25th 2012 - 09:04 UTC
Repsol partner in a huge deposit off the Brazilian coast with 1.25bn barrels of oil

Spain’s Repsol, recovering from the recent seizure of YPF by the Argentine government, said an area off the coast of Brazil it is exploring with partner China Petroleum and Chemical Corp. contains the equivalent of at least 1.25 billion barrels of oil.
Friday, May 25th 2012 - 07:01 UTC
Three former presidents admit Mercosur has failed and has Uruguay ‘trapped’

Three former Uruguayan presidents recommended the current administration that without abandoning Mercosur, it should look at major trade blocks associations but at the same time a strong self criticism is needed because maybe the problem is not in Mercosur but in Uruguay.
Friday, May 25th 2012 - 06:56 UTC
Argentina extends dollar purchase control to residents travelling abroad

Argentina announced on Thursday the use of a new computer tool to gather information from buyers of holiday packages from travel agencies, in another attempt to control savers thirst for greenbacks after the government's crackdown on access to dollars.
Friday, May 25th 2012 - 06:51 UTC
Argentina revokes commuter railway concession involved in crash that killed 51m and injured 700

Argentina's government on Thursday revoked the commuter railway concession for a company whose train crashed in February, killing 51 people and injuring 703.
Friday, May 25th 2012 - 06:45 UTC
UK reassures support for Gibraltar after major incident with Spain in the Rock’s waters

UK reassured support for Gibraltar following Wednesday night’s incident when several Spanish Guardia Civil vessels and a helicopter were involved in a tense standoff with the Royal Gibraltar Police, the Gibraltar Defence Police and the Royal Navy while the Spanish trawlers tried to cast nets in the Rock’s bay.
Friday, May 25th 2012 - 02:51 UTC
Alcohol consumption in Latin America is considerably less than in Europe and US

Alcohol consumption in Latin America is low compared to Europe and the US and averages 5.5 litres of pure alcohol per year per capita, although with marked differences between countries and gender. In Europe consumption is estimated at 13 litres of pure alcohol while in the US the average in 9.8 litres.
Friday, May 25th 2012 - 01:49 UTC
OECD/World Bank recommends more inclusive growth economic policy

Economic policy should be better designed to bring about more inclusive growth, ensuring that the benefits of increased prosperity are shared more evenly across society, according to a new report from the OECD and the World Bank.
Friday, May 25th 2012 - 01:21 UTC
Argentina attacks WTO and US on trade issues at OECD ministerial round

In an offensive to counter recent attacks on Argentina’s restrictive trade policies, Foreign Minister Hector Timerman expressed at the World Trade Organization, WTO, his government’s concern with the current course of global negotiations which face the serious risk of abandoning the development goals agreed when the launching of the current Doha Round of negotiations back in 2001.