Economy

Friday, September 14th 2012 - 05:18 UTC
Auction of Pluna’s Bombardier aircraft collapses: terms “non attractive” and “non viable”

Uruguay’s attempt to auction the bankrupt national airline Pluna aircraft collapsed because none of the groups that showed an initial interest turned up arguing that the 136 million dollars for the seven Bombardier CRJ900 NextGen was “not attractive” and considered the whole business deal “non viable”.
Friday, September 14th 2012 - 00:51 UTC
Brazilian extends tax breaks to two dozen industries to stimulate economy

Brazil rolled out additional stimulus measures to bolster its sluggish economy on Thursday, extending tax breaks to more than two dozen industries and reducing the cost of acquiring capital goods in a bid to help struggling local businesses.
Thursday, September 13th 2012 - 18:42 UTC
Fed announces further financial stimuli for the US economy to help employment

The US central bank announced on Thursday it will resume its policy of pumping more money into the economy via so-called quantitative easing which consists of buying “additional agency mortgage-backed securities at a pace of 40 billion dollars per month”.
Thursday, September 13th 2012 - 17:12 UTC
Switzerland tightens taxes on wealthy foreigners living in the country

Switzerland will keep its special low-tax deals for wealthy foreigners such as music and sports celebrities but increase the amount of tax they pay following a vote by parliament which faced pressure to scrap the system.
Thursday, September 13th 2012 - 17:07 UTC
Argentina’s official inflation for August, 0.9% and 6.8% in the eight months

Argentina’s inflation advanced 0.9% in August and 6.8% in the first eight months of the year according to the controversial official stats office Indec. Whole sale prices were up 1% over July and the construction cost increased 1.3%.
Thursday, September 13th 2012 - 17:03 UTC
Argentina “suggests” banks should limit dollar extractions by credit card holders

The Argentine central bank has informally “suggested” the banking system to limit the advances (in dollars) of credit card holders overseas, reports the Buenos Aires financial press. This is seen as another tightening of the dollar clamp imposed by the administration of President Cristina Fernandez to retain much needed foreign currency.
Thursday, September 13th 2012 - 01:53 UTC
Chile can’t forget Pinochet’s coup: a Carabinero killed, hundreds of protestors injured and arrested

A Carabinero was shot dead, scores of people were injured and 255 others arrested in violent protests marking the 39th anniversary of the military coup that toppled Chilean elected Socialist president Salvador Allende in 1973, reported the Ministry of Interior on Wednesday.
Thursday, September 13th 2012 - 01:51 UTC
Allende shot himself as Pinochet troops stormed the palace, confirms Chilean court

A Chilean court has confirmed that President Salvador Allende killed himself in 1973 as troops attacked the presidential palace to oust him. Official reports, accepted by his family, concluded that his death was suicide but his body was exhumed in 2011 to settle lingering doubts.
Thursday, September 13th 2012 - 01:49 UTC
Arctic conquest: Russia building the world’s biggest nuclear powered icebreaker

Russia's plans to build the world's biggest nuclear-powered icebreaker could attract more trade to the country, says a leading UK analyst. The new ship is meant to be more efficient at breaking ice and able to navigate in deep Arctic waters as well as shallow Siberian rivers.
Wednesday, September 12th 2012 - 19:42 UTC
A comment on the anniversary of the Chilean coup

By Trent Boultinghouse - This week marked the 39th anniversary of the Chilean coup d’etat that ousted the constitutional president of Chile, Salvador Allende, from office and gave rise to the vicious dictatorship of General Augusto Pinochet. Pinochet was known for his adherence as an unabashed apostle to a hard-lined laissez-faire free market economic policy that was widely seen as the impetus for Chile’s economic revival.