Economy

• Wednesday, October 24th 2012 - 05:41 UTC

  Spanish economy continues to contract with no short term expectations of change

  

  Spain’s economy contracted 0.4% in the third quarter and continues to face strong headwinds, the central bank said on Tuesday. Adverse financial conditions eased “somewhat” and the decline in domestic demand was 1.2%, an improvement over the 1.4% fall in the second quarter.

• Wednesday, October 24th 2012 - 05:14 UTC

  Foreign direct investment inflow to Latam rises 8% in six months to 94.3bn dollars

  

  Inflows of foreign direct investment (FDI) to 17 of Latinamerica’s countries rose 8% in the first six months of 2012, compared to the same period a year ago, reaching 94.331 billion dollars, according to figures released on Tuesday by the Economic Commission for Latin America and the Caribbean, ECLAC.

• Wednesday, October 24th 2012 - 05:09 UTC

  Airlines must pay compensation to delayed passengers says EU Court of Justice

  

  Airlines must pay compensation to passengers who are delayed by three hours or more, the European Court of Justice (ECJ) has ruled. The judgement upholds the court's 2009 ruling, which was challenged by a group of airlines including BA and Easyjet.

• Wednesday, October 24th 2012 - 05:03 UTC

  Mexico asks WTO to begin dispute procedure over Argentina’s trade restrictions

  

  Mexico will ask a World Trade Organization panel to adjudicate a dispute over trade restrictions with Argentina, said Economy Minister Bruno Ferrari.

• Tuesday, October 23rd 2012 - 07:33 UTC

  Brazil says all Mercosur leaders have to decide lifting Paraguay’s suspension

  

  Brazil said it is hard to see Paraguay rejoining Mercosur and Unasur before next year’s presidential election. The two blocks suspended the landlocked country following the removal of Fernando Lugo last June and replacing him with President Federico Franco.

• Tuesday, October 23rd 2012 - 07:27 UTC

  Brazil will invest 2bn dollars in promoting fishing industry and doubling catches

  

  Brazilian president Dilma Rousseff announced on Monday an ambitious program to boost and make competitive the fishing industry doubling catches for which she promised the government would invest 4.1bn Reais (2bn dollars).

• Tuesday, October 23rd 2012 - 07:14 UTC

  Sao Paulo police arrest former head of bankrupt Brazilian bank

  

  Police in Sao Paulo said on Monday they had arrested the former head of bankrupt Brazilian lender Banco Cruzeiro do Sul on charges of money laundering and crimes against the country's financial system and capital markets.

• Tuesday, October 23rd 2012 - 07:07 UTC

  Argentine ‘soybean king’ forecasts a new but “green industrial revolution”

  

  The man known in Argentina as “soybean king” said the country was facing a “new industrial revolution”, but factories now won’t have chimneys because they will really be “green factories”.

• Tuesday, October 23rd 2012 - 07:01 UTC

  Argentine with ‘clear long term policies’ can easily become the ‘Saudi Arabia of food’

  

  Former Argentine central bank president, IMF economist and Bank of England consultant Mario Bléjer said that with clear long term policies Argentina could rapidly become the “Saudi Arabia of food” because food demand at world level will grow 20% in the next decade.

• Tuesday, October 23rd 2012 - 06:38 UTC

  ARA Libertad: Argentine president pledges to never yield to ‘vulture’ funds

  

  Argentine president Cristina Fernández in a national broadcast blasted ‘vulture funds’ retaining the impounded training frigate ARA Libertad in Ghana and pledged never to yield the dignity and sovereignty of the country to these funds.