Stories for June 2012

Friday, June 22nd 2012 - 07:55 UTC
Brazil and China sign 30bn dollars swap to boost trade and better weather global turbulence

Brazil and China will sign an agreement in the coming weeks to swap as much as 30 billion in their two currencies, Brazil Finance Minister Guido Mantega said.
Friday, June 22nd 2012 - 07:49 UTC
World corn glut as Matto Grosso in Brazil doubles crop over last year

Corn fell in Chicago on concern a record harvest in Brazil’s Mato Grosso state may add to a supply glut and on speculation slowing US economic growth will cut demand for grain used to make ethanol.
Friday, June 22nd 2012 - 07:46 UTC
Credit Suisse’s Brazil growth forecast of 1.5% this year “a joke” said Mantega

Finance minister Guido Mantega said the latest release from investment bank Credit Suisse forecasting Brazil’s 2012 GDP growth at 1.5%, was “a joke”.
Friday, June 22nd 2012 - 07:39 UTC
Political deal in Germany on the ESM; mini summit in Rome to rescue Spain

The German government and opposition reached on Thursday a deal that will allow parliament to approve the European Stability Mechanism, ESM, next week, but Germany's top court may delay the rescue fund's start date, saying it needed time to study the treaty.
Friday, June 22nd 2012 - 07:36 UTC
Spanish banks need 62bn Euros; full bail-out of the country in the drawing board

Spain's medium-term borrowing costs spiralled to a Euro-era record on Thursday and independent auditors said Spanish banks may need up to 62 billion Euros in extra capital, to be filled mostly by a Euro zone bailout.
Thursday, June 21st 2012 - 23:32 UTC
Unasur delegation travels to Paraguay to ensure “democratic system integrity”

A delegation of Foreign Affairs ministers should be arriving late Thursday to Asunción where the Paraguayan president Fernando Lugo is facing political impeachment that could have him out of office.
Thursday, June 21st 2012 - 23:25 UTC
Paraguayan Senate prepares to oust President Lugo on Friday appealing to an impeachment process

The Paraguayan Senate has summoned President Fernando Lugo for Friday midday to commence the political impeachment process which was voted almost unanimously in the Lower House (76 to 1) and will decide on his future.
Thursday, June 21st 2012 - 20:26 UTC
Teamsters return to work in Argentina, but new national strike programmed for next week

Argentina’s head of organized labour confederation CGT, Hugo Moyano came on stage Thursday afternoon to announce the end of the national strike led by the Teamsters’ union.
Thursday, June 21st 2012 - 18:12 UTC
Uruguayan minister admits deep concern about events in the Euro zone

Uruguayan Minister of Economy Fernando Lorenzo expressed deep concern regarding events in Europe and warned that “the longer the delay in effectively analyzing the cost of the crisis” then everything will work out “much costlier”.
Thursday, June 21st 2012 - 18:00 UTC
Dollar clamp measures hit Argentine mining industry and exports are “at bare minimum”

Mining companies in Argentina have sharply reduced exports because they are unable to meet a new government rule forcing them to cash in the proceeds within 30 days, the head of an industry group said.