Economy

• Tuesday, October 2nd 2012 - 06:31 UTC

  Cristina Fernandez denies any dollar clamp: in nine months paid out 80bn dollars

  

  Argentine President Cristina Fernández again denied the existence of money exchange restrictions over the purchase of dollars by explaining that “Argentina has already paid 79.8 billion dollars so far this year”.

• Tuesday, October 2nd 2012 - 06:07 UTC

  Argentina moves to control prices of a basket of 300 basic products

  

  Argentina's federal government has ordered supermarkets to offer a basket of 300 basic products at low prices amid a backdrop of what many economists say is one of the highest rates of inflation in the Americas.

• Tuesday, October 2nd 2012 - 05:58 UTC

  Strong private sector and creating jobs, the way out of poverty says World Bank

  

  In developing countries, jobs are a cornerstone of development, with a pay off far beyond income alone. They are critical for reducing poverty, making cities work, and providing youth with alternatives to violence, says a new World Bank report.

• Tuesday, October 2nd 2012 - 05:54 UTC

  Bernanke says stimulus plan directed to create jobs; discards threats of inflation

  

  Federal Reserve Chairman Ben Bernanke delivered a broad defence on Monday of the central bank's controversial bond-buying stimulus plan, saying its actions are necessary to support a flagging economic recovery.

• Monday, October 1st 2012 - 21:16 UTC

  Uruguay’s interest rates hike “will aggravate stubbornly high inflation”, anticipates CE

  

  The latest Uruguayan central bank decision to further hike interest rates is “unlikely to do much to tackle stubbornly high inflation” and contrary to this could end acting as a magnet for foreign capital inflow, “aggravating the very problem it seeks to address”, says Michael Henderson from Capital Economics.

• Monday, October 1st 2012 - 20:44 UTC

  UK banking reform at the heart of discussions in the annual Labour conference

  

  UK Labour leader Ed Miliband has indicated that a threat by banks to move abroad would not deter him from breaking them up if they did not agree to revolutionise their operations and put ordinary customers first.

• Monday, October 1st 2012 - 20:32 UTC

  Euro-zone: no end in sight to the scourge of unemployment an increasing poverty

  

  Unemployment in the Euro-zone hit a fresh high of 18.2 million in August, the EU statistics agency has said. The number out of work rose by 34.000, but after the July data was revised up, it meant the unemployment rate remained stable at a record high of 11.4%.

• Monday, October 1st 2012 - 14:32 UTC

  Falkland Islands 2012/13 cruise ship season brings new luxury visitors

  

  Luxury super yacht MY Sherakhan, is one of four vessels new to the Falkland Islands visiting in the 2012/13 season beginning next month. More often spotted in the Mediterranean and Caribbean Seas, she also ventures further afield to Patagonia, Antarctica, French Polynesia, Asia, and Panama.

• Monday, October 1st 2012 - 09:05 UTC

  Renault reviewing production costs in France and bid decisions in the pipeline

  

  French car maker Renault is considering the complete closure of factories because of the dire state of the European automobile market, the company's chief operating officer was quoted on Sunday.

• Monday, October 1st 2012 - 08:43 UTC

  Former minister says Cristina Fernandez in Harvard showed how she really is

  

  Former Economy Minister Domingo Cavallo assured that Argentina’s current problems are much more serious, than back in 2001 since nowadays “people are desperate because they want to preserve the value of their savings and the Government does not allow them to do so”.