Economy

Thursday, February 13th 2014 - 01:31 UTC
Still divided, US Congress lifts government borrowing limit...until 2015

The US Senate has sent to the president a bill to raise the country's borrowing limit for another year, ending a series of political standoffs over the issue. The chamber passed the bill on a 55-43 party line vote a day after it narrowly passed the House of Representatives.
Wednesday, February 12th 2014 - 09:09 UTC
Pacific Alliance signs accord to scrap 92% of inter-trade tariffs and bolster ties with Asia

Heads of state from the Pacific Alliance, comprised of Chile, Colombia, Mexico, and Peru, signed a deal on Monday that will scrap 92% of tariffs on goods and services traded between them. Created in 2012 the Alliance aims to integrate free markets in trade, energy, finance and infrastructure, and bolster ties with Asia, a key trading partner.
Tuesday, February 11th 2014 - 23:53 UTC
Yellen confirms Bernanke approach: labor market recovery “far from complete”

Federal Reserve Chair Janet Yellen said on Tuesday the US central bank was on track to keep reducing its policy stimulus, even as she acknowledged the labor market recovery was “far from complete.”
Tuesday, February 11th 2014 - 23:44 UTC
“It is not clear where the Argentine government is heading or who is in charge”

It is not clear where the government commanded by Argentine president Cristina Fernández is heading to, Economy Minister of neighboring Uruguay Mario Bergara affirmed saying the economic ups and downs in Argentina have deeply impacted on Uruguayan exports, tourism and real estate activities.
Tuesday, February 11th 2014 - 08:18 UTC
Subsidies in the Argentine economy totaled an estimated 4.9% of GDP in 2013

Economic subsidies for Argentine public and private companies last year totaled an estimated 143 billion pesos, or 4.9% of GDP, the highest level in eight years, according to a joint report by the Professional Council of Economic Sciences (CPCE) and the Argentine Institute of Fiscal Analysis (IARAF) released this week, and which was summarized by the Buenos Aires Herald.
Tuesday, February 11th 2014 - 08:04 UTC
Jaguar Land Rover profits soar on sales of XJ and XF models and Range Rover

Profits at luxury car maker Jaguar Land Rover (JLR) more than doubled in the last three months of 2013. The UK company made profits of £842m, up from £404m for the same quarter in 2012, on revenues of £5.3bn.
Monday, February 10th 2014 - 04:06 UTC
Uruguay and Brazil prepared to a 'two-speed' Mercosur/EU trade negotiation

Uruguay and Brazil could be prepared to go ahead with a 'two speed' trade negotiations between Mercosur and the European Union if the Argentine tariff proposal is not as ambitious as that from the rest of its members, according to Uruguayan diplomatic sources.
Monday, February 10th 2014 - 03:42 UTC
“Argentina's economy on the right course” K ambassador tells the Washington Post

Argentina's reactions to the country's image in the US and particularly that of President Cristina Fernandez administration economic policies have not ceased. This time it was ambassador before the US government, Cecilia Nahón who strongly replied the terms of an editorial from The Washington Post anticipating “Argentina's coming collapse”.
Monday, February 10th 2014 - 03:33 UTC
Francis denies any involvement in Argentina's complicated situation: 'pure nonsense'

Pope Francis dismissed on Sunday reports that he had called for a meeting between representatives from President of Cristina Fernández government and members of the Argentine Industrial Union (UIA) and organized labor CGT union, with the supposed aim of discussing economic issues.
Monday, February 10th 2014 - 03:19 UTC
Brazilian inflation down in January, but 12-month still off target

The Brazilian official inflation rate was 0.55% in January, lower than December 2013’s 0.92% and January 2013’s 0.86%. Over the last 12 month-period, the Extended Consumer Price Index (IPCA) stands at 5.59%, from February 2013 to January 2014.