Economy

• Thursday, July 12th 2012 - 07:27 UTC

  Brazil lowers benchmark rate for eighth straight time to 8%

  

  Brazil’s central bank cut its benchmark interest rate for the eighth straight time and signaled it will continue to lower borrowing costs, as spillover from a global economic slowdown limits inflation risks.

• Thursday, July 12th 2012 - 07:23 UTC

  Boom year for the Falklands’ tourism industry propped by the war’s anniversary

  

  Tourist arrivals to the Falkland Islands are expected to increase by 14.9% in 2012, with a significant 28.8% jump in the number of leisure visitors, mainly driven by the 30th anniversary of the Falklands War.

• Thursday, July 12th 2012 - 07:11 UTC

  Argentina displaces Venezuela as holder of the region’s highest inflation title

  

  Venezuela’s president Hugo Chavez running for re-election received a considerable boost for his campaign from his peer and political associate President Cristina Fernandez when it was revealed that Argentine inflation in the first half was over two digits.

• Thursday, July 12th 2012 - 07:09 UTC

  Argentine economy suffering from a mix of stagnation and strong inflation

  

  The stagnation of the Argentine economy at the end of the first half of the year is “palpable” and so is tension in the money exchange market because of the restrictions on the purchase of US dollars imposed by the government of President Cristina Fernandez, according to a report from economic advisors Ecolatina from Buenos Aires.

• Thursday, July 12th 2012 - 06:57 UTC

  China cuts retail fuel prices 5%, the third cut in two months

  

  China, the world's second biggest consumer of fuel, has cut retail oil prices by about 5% with immediate effect. This is the third cut in two months, and some analysts say could be an attempt to increase fuel consumption. Demand for oil fell for the first time in three years in April.

• Thursday, July 12th 2012 - 06:54 UTC

  US Fed divided as to when decide on a new round of asset purchases

  

  The US Federal Reserve officials are open to the possibility of a new round of asset purchases, though the US economy may need to get weaker before any further action is taken.

• Thursday, July 12th 2012 - 01:59 UTC

  Chile’s top copper producer placed 2bn dollars in 10 and 30-year bonds

  

  The world’s number one copper producer Codelco announced it had placed 2 billion dollars in bonds, its largest debt issue to date, aimed at refinancing debt and funding a good part of the miner's 2013 investments.

• Wednesday, July 11th 2012 - 22:56 UTC

  'Euroleaf', trademark for the strict EU organic farming standards

  

  The “Euro-leaf” EU organic logo was introduced on 1 July 2010, but in order to help operators adapt to the new rules, and to avoid waste of existing packaging, a 2-year transition period was allowed before it was compulsory on all products.

• Wednesday, July 11th 2012 - 22:33 UTC

  ILO anticipates further job losses in Euro-zone because of austerity measures

  

  The Euro-zone could lose 4.5 million more jobs in the next four years unless the region shifts away from austerity, the International Labour Organization (ILO) has warned. That rise would take unemployment in the 17-nation bloc to 22 million.

• Wednesday, July 11th 2012 - 22:28 UTC

  Rajoy raises VAT to 21% and drastically cuts benefits and other perks

  

  Prime Minister Mariano Rajoy announced a swathe of new taxes and spending cuts designed to slash 65 billion Euros from the budget deficit by 2014 as recession-plagued Spain struggles to meet tough targets agreed with Europe.