Economy

• Tuesday, July 30th 2013 - 03:07 UTC

  Uruguay needs ‘a dollar at 25 Pesos’ if it wants to remain competitive warn economists

  

  Uruguay is too expensive in dollar terms and needs to adapt quickly because the adjustment will come anyway ‘and will be painful’ unless inflation is brought under control and costs equilibrium is reached with Brazil with a competitive dollar at 25 Pesos.

• Tuesday, July 30th 2013 - 03:03 UTC

  Eclac joins the club of Argentine government official stats disbelievers and says inflation is 20.5%

  

  Following on the steps of the IMF (and World Bank) which has strongly questioned Argentine official stats (mainly inflation and GDP growth), the United Nations Economic Commission for Latin America and the Caribbean, Eclac, also joined the club of disbelievers since in its last report on the regional economy appealed to other stats’ sources.

• Tuesday, July 30th 2013 - 02:48 UTC

  Argentine auto-manufacturing boosts June and half year industrial production stats

  

  Boosted by auto and metal-mechanic manufacturing industrial production in Argentina during June increased 3.8% compared to the same month a year ago, according to the latest release from Indec. Since April and May were also positive this means that the second quarter was up 3.5% over a year ago.

• Tuesday, July 30th 2013 - 02:23 UTC

  EU and China reach an ‘amicable solution’ on solar panel imports

  

  The European Commission says it has reached “an amicable solution” with Beijing in a row over imports of Chinese solar panels. Both sides have agreed a minimum price for the panels, EU Trade Commissioner Karel De Gucht said.

• Monday, July 29th 2013 - 22:25 UTC

  Norway media question why Oslo is not collaborating with South Georgia rat eradication campaign

  

  An ambitious multi-national move to reduce the rat population on the island of South Georgia has yielded results despite no Norwegian government funding underlines an Oslo media recalling the close relations of the Scandinavian country with the extreme south island and sixty years of whaling.

• Monday, July 29th 2013 - 21:48 UTC

  US power regulator after JP Morgan Chase for market manipulation

  

  The US power regulator outlined its case of market manipulation against JPMorgan Chase & Co as industry sources said a final settlement on the issue should come on Tuesday. Traders used improper bidding tactics in California and the Midwest to boost profits, officials said in a statement that brought to light some details of an extensive investigation.

• Monday, July 29th 2013 - 06:12 UTC

  Rousseff brushes aside a ‘Lula option for 2014’ and ratifies minister Mantega

  

  Responding to claims that former president Lula da Silva ‘is returning to politics’ and thus conditioning her re-election bid next year, Brazilian president Dilma Rousseff said the former trade union leader ‘never left politics’ and their relation ‘can’t be dissociated’. She also ratified Finance minister Guido Mantega.

• Saturday, July 27th 2013 - 20:13 UTC

  US largest bank moving out of the commodities business; Congress investigation

  

  New York-based JPMorgan, the largest US bank, said that it’s “pursuing strategic alternatives,” including the sale or spin-off of its commodities business, after an internal review. The statement came three days after a US congressional hearing investigated whether deposit-taking banks should be allowed to trade raw materials such as oil and industrial metals.

• Saturday, July 27th 2013 - 05:16 UTC

  Cristina Fernandez on campaign for October mid term elections hikes minimum wage 25.5%

  

  The minimum wage In Argentina will increase 25.5% to 3,600 Pesos, President Cristina Fernández announced. The hike will be implemented in two phases, with the lowest legal salary rising to 3,300 Pesos as of August and 3,600 in January 2014.

• Saturday, July 27th 2013 - 05:11 UTC

  Repsol takes YPF/Chevron deal to World Bank’s Investment Disputes Centre

  

  Spanish oil company Repsol asked the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) to take provisional measures to prevent YPF state-owned oil company to execute the deal it sealed with Chevron last year to explore for unconventional hydrocarbons in the Vaca Muerta shale formation.