Stories for April 20th 2013

Saturday, April 20th 2013 - 09:07 UTC
Uruguay investing hundreds of millions to support the US dollar and exports edge

Uruguay’ financial and political stability is backfiring as the Central bank is forced to buy a massive inflow of foreign capital which in turn creates an abundance of Pesos that need to be absorbed to control inflation and support the competitive edge of the country’s exports.
Saturday, April 20th 2013 - 09:01 UTC
Positive cruise season for Uruguay and further growth prospects for 2013/14

Last Wednesday April 17 ‘Splendour of the Seas’ and its 1.940 passengers marked the end of the 2012/13 cruise season for Uruguay, which took off on 23 October and totalled 222 calls between the port of Montevideo and Punta del Este sea resort.
Saturday, April 20th 2013 - 08:56 UTC
Fitch trims UK top credit rating on weaker economy and fiscal outlook

Britain's credit standing took a further blow when Fitch Ratings became the second major international agency to strip the country of its top-notch credit rating. The move is an embarrassment for the Conservative-led government which promised to protect the country's rating when it took power in 2010, and will heighten the debate about whether austerity is still the right approach.
Saturday, April 20th 2013 - 08:48 UTC
Gibraltar will commemorate, not celebrate the 300 year of the Treaty of Utrecht

Gibraltar will commemorate, not celebrate the 300 year old Treaty of Utrecht this year, Chief Minister Fabian Picardo, told members of the Fabian Society in London earlier this week. The treaty refers to the cession in perpetuity by Spain to the British Crown of Gibraltar in 1713 under Article X of the agreement which put an end to the War of Spanish Succession (1701/1714)
Saturday, April 20th 2013 - 08:39 UTC
US hedge funds reject Argentina’s offer to settle defaulted sovereign bonds suit

Two US hedge funds suing Argentina for full payment on defaulted bonds rejected on Friday, President Cristina Fernandez government offer to settle the suit with a deal that would give them approximately 25% of what they were seeking.
Saturday, April 20th 2013 - 08:32 UTC
Argentines expecting inflation above 30% for the next twelve months

Argentines are expecting an inflation of 34.2% in the coming twelve months according to the average from a monthly report released by a prestigious private university research centre based on surveys,
Saturday, April 20th 2013 - 08:19 UTC
Maduro takes office as first ‘Chavista’ president; in massive parade military swear allegiance

When the last tanks rumbled past and the massive civil-military parade with display of state of the art missile launchers had come to an end in early Friday night of Caracas, Venezuelan president Nicolas Maduro could sigh in relief because his last twenty four hours had been really hectic.
Saturday, April 20th 2013 - 06:26 UTC
IMF again warns Argentina: new inflation index “is not enough”

Argentina's new inflation measure is not enough to overcome the International Monetary Fund's censure of the country for inadequate data, an IMF official said Friday.
Saturday, April 20th 2013 - 06:13 UTC
Brazil planning a 10% tax on revenue from nuclear power operations

Brazil’s electricity producing nuclear plants, under the umbrella of Eletronuclear may face a 10% tax on revenue from its nuclear power operations as the country prepares to expand arrangements that target profits from oil and gas and its distribution among local governments.
Saturday, April 20th 2013 - 06:08 UTC
Embraer-Augusta Westland project to build helicopters in Brazil falls through

Brazilian plane maker Embraer SA said on Friday that it ended talks with AgustaWestland, a subsidiary of Italy's Finmeccanica, without reaching an agreement to form a joint venture.