Economy

• Thursday, January 31st 2013 - 07:55 UTC

  Argentines love for US dollar remains unbeatable, even as it approaches 8 Pesos

  

  Argentines wishing to spend vacations overseas, edgy farmers, strong demand from business and the government’s hoarding of hard currency are pushing the US dollar to new highs in Argentina, just a few cents away from the threshold 8 Pesos to the greenback, while in the official market trading is climbing closer to 5 Pesos.

• Thursday, January 31st 2013 - 07:52 UTC

  Petrobras raises gasoline and diesel prices, but markets say it’s insufficient

  

  Brazil's state-run oil company Petrobras said in a market filing that it would increase refinery prices for gasoline and diesel by 6.6% and 5.4%, respectively, starting on January 31. However the market’s reaction was negative with the Bovespa stock exchange falling to a seven-week low.

• Thursday, January 31st 2013 - 07:20 UTC

  Argentina in the process of quitting from World Bank investment disputes centre

  

  Argentina says it plans to withdraw from the International Centre for Settlement of Investment Disputes, ICSID, a World Bank body designed to arbitrate between states and foreign investors.

• Thursday, January 31st 2013 - 07:16 UTC

  Canada and US agree on meat and livestock trade when animal disease outbreaks

  

  Canada and the United States have agreed to maintain livestock and meat trade during animal disease outbreaks using a new system that targets trade bans more precisely by region, Canadian Agriculture Minister Gerry Ritz said this week.

• Thursday, January 31st 2013 - 07:01 UTC

  Argentine construction activity was down 3.2% in 2012, according to official stats

  

  Argentina’s construction activity registered a 3.2% drop in 2012 compared to the volume reported the previous year, according to the Indec national statistics bureau. This would be the first time in three years that the industry experienced a broad slowdown.

• Wednesday, January 30th 2013 - 15:34 UTC

  US economy contracts in fourth quarter, first time since 2009 global recession

  

  The US economy unexpectedly shrank at an annualised rate of 0.1% in the fourth quarter of 2012, initial official estimates indicate. If confirmed, it would be the first contraction logged by the US economy since the 2009 global recession. The world's largest economy grew 3.1% in July to September.

• Wednesday, January 30th 2013 - 08:52 UTC

  Brazilian economy creates the least payroll jobs in 2012 since 2003

  

  The once-booming Brazilian economy created the fewest new jobs in a decade during 2012 as struggling manufacturing industries and mining companies hired fewer workers, according to Labour ministry data. Latinamerica’s leading economy added 1.3 million payroll jobs last year, the worst result since 2003 and way below the 2 million jobs created in 2011.

• Wednesday, January 30th 2013 - 06:47 UTC

  Pacific alliance pledges to liberalize intra-trade for 90% of products by March 31

  

  The Alliance of the Pacific, Chile, Peru, Colombia and Mexico have agreed to liberalize 90% of products traded between the group before the end of March 31, a decision which runs counter to the growing protectionism implemented by some of the region’s largest economies on the Atlantic.

• Wednesday, January 30th 2013 - 06:44 UTC

  IMF informally briefed on Argentina and on Friday will address possible censure

  

  The International Monetary Fund’s board of directors was informally briefed on the economic situation in Argentina, which has refused to undergo an annual assessment since 2006.

• Wednesday, January 30th 2013 - 06:34 UTC

  Good and bad news for Argentina disputes at World Trade Organization

  

  The World Trade Organization decided to implement two dispute resolution panels, one to probe accusations of unfair trade practices against Argentina by the US, the EU and Japan and another regarding Argentina’s claim that US-sanctioned measures affect their meat and lemons exports.