Economy

• Saturday, November 3rd 2012 - 03:44 UTC

  Peru considers rescuing debt to cool inflow of capital and currency appreciation

  

  Peru is considering the anticipated cancelling of public debt to drain ‘dollars’ from the market and impede the sustained appreciation of the local currency, Sol, said Economy minister Luis Castilla. This would be the first step for a new liabilities management approach to extend in time the maturing of Peruvian bonds and other debt papers.

• Friday, November 2nd 2012 - 23:07 UTC

  Falklands extends Rockhopper licences to evaluate further oil potential

  

  The Falkland Islands government has granted a one year extension for Rockhopper Exploration’s production licences PL023 and PL024. The licences, in which Rockhopper has a 40% interest, have been extended until November 2013, with no requirement for the operator to perform further work on the licences in that time.

• Friday, November 2nd 2012 - 08:28 UTC

  Drought in US farms is helping Brazil’s exports of corn and ethanol

  

  Brazil's trade ministry said the country's exports of corn and ethanol rose in October as foreign buyers turned to Brazil after the worst drought in 50 years ravaged US crops.

• Friday, November 2nd 2012 - 06:42 UTC

  Brazil tax-incentives for foreigners to develop local debt markets and finance ‘investment projects’

  

  Brazil granted a tax exemption to foreigners who buy mortgage-backed securities or invest in funds that purchase them after sales of new debt supported by real estate loans fell almost 50% this year.

• Friday, November 2nd 2012 - 06:36 UTC

  Dollar plunges against the Uruguayan Peso in October; massive inflow of capital

  

  The US dollar suffered in Uruguay during October its greatest fall since January 2009 following on the increase of the Central bank basic rate to 9% at the end of September, which turned Uruguayan bonds far more attractive for foreign investors.

• Friday, November 2nd 2012 - 06:33 UTC

  Uruguayan central bank indicator shows inflation is close to 11% in 12 months

  

  Uruguay’s central bank said that consumer prices, excluding the most volatile items, have increased almost 11% in the last twelve months to September. Fresh fruit and vegetables, cigarettes and public utility rates are considered ‘volatile prices’.

• Thursday, November 1st 2012 - 23:33 UTC

  Euro-scepticism spreading in the British political system

  

  Britain faces a crisis that could end with the world's sixth largest economy leaving the European Union, Deputy Prime Minister Nick Clegg warned ahead of a showdown over budget spending with other states in the 27-member bloc.

• Thursday, November 1st 2012 - 23:28 UTC

  Argentina tightens ‘dollar-clamp’: end to mortgage loans in US currency

  

  Argentina tightened the ‘dollar clamp’ a further notch by including mortgage credits, which means people wanting to become home owners will not have access to the US currency.

• Thursday, November 1st 2012 - 23:07 UTC

  Cristina Fernandez criticizes US court and promises all debt bonds will be paid in dollars

  

  President Cristina Fernández returned to stage on Thursday and assured that Argentina's dollar-denominated debt bonds are to be “paid in dollars” whilst criticizing the New York judiciary for its latest ruling against Argentina, in a speech at the Government House.

• Thursday, November 1st 2012 - 16:29 UTC

  September industrial production down 1% in Brazil; 12.4% in nine months

  

  Industrial production in Brazil contracted more than expected in September. According to a release from the government stats office IBGE output from Brazilian factories and mines shrank 1% in September from August on a seasonally adjusted basis.