Economy

Friday, August 3rd 2012 - 07:46 UTC
State of emergency in south Peru to protect mining projects from guerrillas

Peru’s government has extended a state of emergency for 60 days in several districts of south-central regions because of the presence of the guerrilla group Shining Path remnants.
Friday, August 3rd 2012 - 07:10 UTC
Bolivia seizes silver and indium mine operated by Canadian firm

Confirming the growing trend in several South American countries, Bolivia expropriated a silver and indium mine operated by a local unit of Canadian firm South American Silver, a move criticized by Ottawa and likely to scare off foreign investors.
Thursday, August 2nd 2012 - 22:57 UTC
Argentina’s noose on Falklands: Buenos Aires province bans UK flagged vessels

In what is seen as another step of Argentina’s noose-tightening of the Falkland Islands’ economy and development, the Buenos Aires Province Senate passed a law on Thursday banning British flagged vessels from calling at Argentina’s largest province ports.
Thursday, August 2nd 2012 - 07:26 UTC
Argentina admits slower economy; blames global crisis, drought and Brazil’s low growth

Argentina acknowledged the slowing down of the economy as the result of the global crisis, prolonged drought and a lesser growth rate from Brazil, according to a report from the Central Bank released this week.
Thursday, August 2nd 2012 - 07:20 UTC
IMF praise for Brazil’s financial system but warns of home-grown risks

Thanks to sound policies and built-in cushions, Brazil’s financial system weathered the global crisis that began in 2008 remarkably well, but now policymakers need to monitor for signs of home-grown financial trouble, the IMF said in its later report.
Thursday, August 2nd 2012 - 07:04 UTC
Massive capital outflow in Spain: €163 billion left in five months

Capital outflows from Spain more than quadrupled in May to €41.3 billion compared with May 2011, according to figures released on Tuesday by the Spanish central bank. In the first five months of 2012, a total of €163 billion left the country, the figures indicate. During the same period a year earlier, Spain recorded a net inflow of €14.6 billion.
Thursday, August 2nd 2012 - 06:59 UTC
Argentina on track to become world’s fourth largest producer of poultry meat

Industry Minister Debora Giorgi said that Argentina is on track to become, in the short term, the fourth largest producer of poultry meat. According to the Industrial Strategic Plan 2020, the sector achieved in less than a decade exports of 600.000 tons per year.
Thursday, August 2nd 2012 - 06:53 UTC
Brazilian government to the rescue of pork farmers; excess production

The Brazilian government will spend 30.4 million Reais (15.05 million dollars) to buy 76,000 metric tons of excess live swine, through a minimum-price plan created to help Brazilian producers get out from under a national oversupply of pork, the Ministry of Agriculture announced.
Thursday, August 2nd 2012 - 06:46 UTC
The next December solstice celebration in Bolivia will have Coca Cola after all

Bolivia said on Wednesday that statements from Foreign minister David Choquehuanca about “the end of Coca Cola” were taken out of context adding there are no plans to expulse the US Company from the country, as published in the local media.
Thursday, August 2nd 2012 - 06:34 UTC
India’s two power outage incidents in two days punished almost a billion people

New Delhi’s Metro shut down and hundreds of coal miners were trapped underground after three Indian electric grids collapsed in a cascade on Tuesday cutting power to 620 million people in the world’s biggest blackout.