Stories for July 2012

Wednesday, July 4th 2012 - 03:04 UTC
Uruguay leaves benchmark rate at 8.75% on persistent concern with inflation

Uruguay's central bank held its benchmark interest rate steady at 8.75% on Tuesday, citing “reasonable” economic growth and persistent concern about inflation expectations above target.
Wednesday, July 4th 2012 - 02:53 UTC
Partly Canadian owned South American airline on the verge of bankruptcy

Uruguay’s bankrupt flagship carrier Pluna decided on Tuesday to cancel all flights during 48 hours following an announcement from the union of a two-day strike to protest working conditions and rumours of 200 redundancies.
Wednesday, July 4th 2012 - 00:37 UTC
Mujica confirms full support for Minister Almagro and Ambassador Pomi

Even when Uruguayan president Jose Mujica assumed full responsibility for the controversial support suspending Paraguay and embracing Venezuela during the Mercosur summit, other details of events have emerged with Uruguayan ambassador Guillermo Pomi in Argentina, allegedly playing a crucial role.
Tuesday, July 3rd 2012 - 23:52 UTC
OAS fact-finding mission presents report to Permanent Council next Monday

Organization of American States (OAS) Secretary General, José Miguel Insulza concluded on Tuesday his fact-finding visit to Paraguay, where he headed a special mission that included OAS Permanent Representatives from Haiti, Canada; United States; Honduras and Mexico.
Tuesday, July 3rd 2012 - 23:09 UTC
Argentina extends incorporation deadline for 20 new jiggers to end of August

Argentina’s Federal Fisheries Council, (CFP), has decided to extend the deadline for fishing companies interested in presenting projects for the incorporation of jiggers to the authorised fleet, which currently consists of 85 vessels.
Tuesday, July 3rd 2012 - 22:57 UTC
“A coup against Mercosur” claims leading Brazilian newspaper

Brazil’s conservative but influential daily O Estado de Sao Paulo dedicated the main Tuesday editorial to the Mercosur suspension of Paraguay and the entrance of Venezuela arguing that what happened at the group’s summit in Mendoza was “a coup against” the block.
Tuesday, July 3rd 2012 - 19:05 UTC
China scraps plan to build 5 billion dollars steel plant in Brazil

A major Chinese steelmaker has scrapped a plan to build a five-billion-dollar factory in Brazil due to high costs and a slump in global prices for the metal, state media said Tuesday.
Tuesday, July 3rd 2012 - 18:56 UTC
IMF praises Germany; suggests more stimuli to a tepid performing US economy

An IMF report revealed that the German economy’s performance has been remarkable despite facing considerable headwinds and that the US recovery “remains tepid and subject to elevated downside risks.”
Tuesday, July 3rd 2012 - 18:46 UTC
Bank of China expands in Brazil following 30bn dollars swap agreement

Bank of China plans to cash in on the expanding bilateral trade between China and Brazil and the recent currency swap agreement between the two central banks.
Tuesday, July 3rd 2012 - 18:40 UTC
Wales Falklands Memorial re-dedicated on the 30th anniversary of the conflict

Wales' Falklands Memorial has been re-dedicated to mark the 30th anniversary of the conflict which saw 32 Welsh Guards among the fallen. The ceremony was part of the Armed Forces Day events in Cardiff and was attended by Falklands’ lawmaker Dick Sawle.