Economy

• Monday, December 3rd 2012 - 05:11 UTC

  Brazil ‘trapped and isolated’ in Mercosur, should try trade agreements with US, says former president

  

  Former Brazilian president Fernando Henrique Cardoso said it was convenient to consider a trade integration with the Unites States given the very modest advances with Mercosur, where open trade has stalled or is far less than was expected when the original idea and is subjected to protectionist lobbies.

• Monday, December 3rd 2012 - 04:54 UTC

  Holdout funds want Argentina to deposit 250m by December 10

  

  Investment funds suing over Argentina's 2002 debt default have asked a US court to order the country to post a security deposit of at least 250 million dollars by December 10, while an appeal of a lower court's order is pending.

• Saturday, December 1st 2012 - 07:25 UTC

  Unasur summit rejects Falklands’ referendum and wants to limit ‘vulture funds’

  

  The Union for South American Nations (Unasur) agreed to limit the actions of ‘special situation funds’ (hedge funds or ‘vulture funds’) and categorically rejected a referendum that will take in place in the Falkland Islands in March to decide the political status of the archipelago, during the summit that took place in Lima.

• Saturday, December 1st 2012 - 07:00 UTC

  Moody’s downgrades EU financial support funds after France loses top grade

  

  Moody's Ratings agency announced it has downgraded the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) from “Aaa” to “Aa1,” with negative outlook on each.

• Friday, November 30th 2012 - 23:54 UTC

  Rousseff vetoes part of oil royalties’ bill: victory for producer states

  

  President Dilma Rousseff vetoed on Friday parts of a controversial oil royalties bill that pit Brazil's oil-producing states against the rest of the country in a battle over future oil wealth.

• Friday, November 30th 2012 - 23:51 UTC

  Surprisingly disappointing performance of Brazilian economy in third quarter

  

  Brazil on Friday reported slower than expected economic growth in the third quarter putting more pressure on President Dilma Rousseff to make deeper structural reforms and adding to fears that the global slowdown is reaching big emerging markets.

• Friday, November 30th 2012 - 08:40 UTC

  YPF takes over Argentina’s main gas distribution company belonging to BG

  

  Argentina’s nationalized oil and gas company YPF announced it has taken control of Metrogas, after acquiring 54.67% of the shares of Gas Argentino (GASA) from the company British Gas (BG). The takeover leaves the oil company as the main stockholder and controller of 70% of the largest gas distribution company in Argentina.

• Friday, November 30th 2012 - 06:39 UTC

  Unasur summit will address Paraguay situation; Brazil and Argentina absent

  

  The Union of South American Nations, Unasur leaders meet on Friday in Peru to consider advances to the integration process and a report on the political and electoral situation in Paraguay, which remains suspended from the group since last June.

• Friday, November 30th 2012 - 06:15 UTC

  Falklands’ fishing company seeking good management label from MSC

  

  For the first time a Falkland Islands fishing company is seeking to have its good management certificated by the internationally recognised Marine Stewardship Council (MSC).

• Friday, November 30th 2012 - 06:02 UTC

  Seabourn Cruise Line no longer will call at the Falklands, reports Ushuaia media

  

  The Bahamas flagged cruise vessel ‘Seabourn Sojourn’ that on Thursday berthed at Ushuaia reported to Argentine port authorities it has no plans to visit the Falklands/Malvinas Islands according to press reports from the capital of Argentine Tierra del Fuego.