Economy

Tuesday, December 11th 2012 - 18:20 UTC
EU parliament prepares to approve trade accords with Central America, Peru and Colombia

Spanish members of the European parliament and Trade Commissioner Karel De Gucht called on Tuesday on the full house to ratify the association agreement of the EU with Central America, and the EU free trade agreement with Colombia and Peru.
Tuesday, December 11th 2012 - 18:15 UTC
Lagarde praises the Colombian economy and its potential support for IMF

The IMF Managing Director Christine Lagarde praised Colombia as a member with the capacity to support the multilateral organization with “funds” and “services”, something which in the past was not possible. Lagarde made the comments after meeting with Colombian president Juan Manuel Santos in Bogotá where she underlined the “magnificent moment” of the Andean country’s economy.
Tuesday, December 11th 2012 - 16:27 UTC
The Economist and President Rousseff clash over ‘Brazil cost’ and Mantega

President Dilma Rousseff reiterated she wouldn’t be influenced by The Economist magazine’s call for her to oust Finance Minister Guido Mantega after a growth report that fell short of government forecasts.
Tuesday, December 11th 2012 - 13:15 UTC
St Helena insists with close business links with the Falkland Islands

Former Managing Director of the Falkland Island Development Corporation, Julian Morris, now Executive Officer of Economic Development on St Helena, has been caught up in a tight schedule of meetings during his visit over the past week, to encourage Falklands’ business investment in St Helena.
Monday, December 10th 2012 - 20:10 UTC
YPF CEO Galuccio travels to Norway to discuss partnership with Statoil

Argentina’ nationalized oil and gas corporation YPF is said to be in talks with Norway’s Statoil about a possible partnership as part of its 37 billion dollars drive to develop Argentina’s energy reserves. It is close to signing deals with US oil giant Chevron as well as Bridas Corp, the Chinese-Argentine joint venture, the Financial Times reported on Sunday.
Monday, December 10th 2012 - 20:05 UTC
Brazil plans to invest 26bn dollars in four years to modernize ports

Brazil's government has unveiled plans to invest 54.2 billion Reais (approx 26 billion dollars) over the next four years to modernize the country's ports, whose high costs and notorious delays are eroding the country’s competitive edge.
Monday, December 10th 2012 - 18:48 UTC
European Central Bank says it has ‘much to learn’ from Latam robust financial systems

The Vice-president of the European central bank Vitor Constancio said the EU has much to learn from Latin America which has coped with successive economic and financial crises and has managed to create robust financial structures which have made the region’s system even more resistant to outside shocks.
Monday, December 10th 2012 - 05:51 UTC
Dollar clamp represents the failure of Argentina’s energy policy, says Lavagna

Former Economy minister Roberto Lavagna said that it will take Argentina “at least three years” to liberate the country from the ‘dollar clamp’ if as of this month it was decided to execute a policy to end restrictions on the purchase of foreign currency.
Monday, December 10th 2012 - 05:46 UTC
Poor wheat crop in Argentina, which is expected to limit exports

Argentina is expected to trim the quantity of 2012/2013 wheat destined for overseas shipment to 4.5 million tons from a previous 6 million due to a smaller than forecast harvest, a local newspaper reported on Saturday.
Monday, December 10th 2012 - 05:34 UTC
YPF confident it has partners to develop shale assets: Chevron and Bridas

Argentine nationalized oil company YPF is in advanced discussions with potential partners on the development of its shale assets, the company's chief executive said. YPF could complete a deal with Bridas Energy Holdings Ltd. before the end of the year, while an agreement with US oil major Chevron Corp. will likely close in the first quarter of 2013, he said, adding that the deals would likely be similar in size.