Stories for May 13th 2013

Monday, May 13th 2013 - 22:34 UTC
China to the rescue of Argentina with a 10 billion dollars equivalent swap

Argentina is negotiating with China a new 10 billon dollars equivalent swap of international reserves support based on the experience of 2009 when the global financial crisis. The new accord should theoretically help Argentina strengthen its international position vis-à-vis the run on the dollar (or the flight from the Peso) and which has cost the Central bank 4 billion dollars so far this year.
Monday, May 13th 2013 - 04:45 UTC
Falklands: MPs blast Spanish MEP for comments on the Islands sovereignty

A senior British member of Parliament blasted as ‘outrageous’ claims that the European Parliament does not recognize British sovereignty over the Falkland Islands. The case first surfaced when MercoPress reported that a Spanish member of the European parliament on a recent visit to Argentina said that “British sovereignty over the Islands as such is not accepted”.
Monday, May 13th 2013 - 04:39 UTC
Malvinas' globe in UK stores triggers strong reactions from Falklands’ veterans

It’s not the first time it has happened mainly in Argentina where maps, stationery, climate and navigational charts and even school books related to the Islas Malvinas have been found referred and printed as the Falkland Islands to the fury of the Kirchner ‘Penguin’ governments.
Monday, May 13th 2013 - 04:30 UTC
Positive reaction in Japanese markets to G7 ‘silent’ endorsement of Yen policy

Tokyo stocks opened 1.02% higher on Monday as the Yen's fall accelerated after Japan avoided open criticism about its forex policy at the weekend meeting of Group of Seven financial chiefs. The benchmark Nikkei 225 index shot up 149.05 points to 14,756.59 at the start of trade.
Monday, May 13th 2013 - 04:28 UTC
G7 reaches overall compromise on ‘austerity/expansion’ and fiscal consolidation

The Group of Seven advanced economies appeared to smooth over US-European differences on how to balance deep austerity measures with ways to support fragile growth. G7 finance ministers and central bankers also pledged their commitment to tackling tax evasion during two days of talks in the English countryside, British finance minister George Osborne said.
Monday, May 13th 2013 - 04:21 UTC
Maduro trying to deal with his main challenges: food scarcity and inflation

President Nicolas Maduro accused Lorenzo Mendoza, owner of Empresas Polar SA, Venezuela’s largest privately held company, of reducing food production and creating shortages amid record scarcity and the region’s fastest inflation close to 30%.
Monday, May 13th 2013 - 04:08 UTC
German president in Brazil to promote trade and investments

German President Joachim Gauck arrived on Sunday to Brazil with economic and trade issues as the centre of his visit. The trip to Sao Paulo marks the start of the Year of Germany in Brazil, which Gauck's predecessor Christian Wulff agreed on with Brazilian President Dilma Rousseff in May 2011.
Monday, May 13th 2013 - 04:03 UTC
Two Tory ministers prepared to vote for Britain to leave the EU

Defence Secretary Philip Hammond has become the second cabinet minister to say he would vote for Britain to leave the EU if a referendum were held now. But, like education secretary Michael Gove, he said David Cameron must be given a chance to bring powers back from Brussels before deciding.