Economy

• Wednesday, July 11th 2012 - 22:16 UTC

  Germany expected to grow 1.9% in 2013 because of Euro crisis

  

  Germany's DIW economic research institute slashed its 2013 forecast for Europe's largest economy by 0.5 percentage points to 1.9% on Wednesday, saying the Euro zone debt crisis would have a bigger impact than it had originally expected.

• Wednesday, July 11th 2012 - 22:09 UTC

  OECD/FAO anticipate promising future for farm-commodity prices

  

  World farm commodity prices will edge higher in the next decade, and oilseeds are set to outperform wheat and other cereals, both trends fuelled by demand in emerging economies, the OECD said on Wednesday, presenting a joint report with the UN's food agency FAO.

• Wednesday, July 11th 2012 - 19:57 UTC

  German proposal: richest citizens should pay more taxes or loan long term to governments

  

  A leading German economic research institute has come up with one way to help countries involved in the euro crisis pay down their sovereign debt: get the wealthiest citizens to pay higher taxes, or force them to loan money to their governments.

• Wednesday, July 11th 2012 - 19:24 UTC

  With Venezuela, Mercosur will extend from Patagonia to the Caribbean

  

  Brazilian Foreign minister Antonio Patriota again supported the access of Venezuela as full member of Mercosur and the suspension of Paraguay, which he described as a clear message for all those possible “anti-democratic adventures”.

• Wednesday, July 11th 2012 - 06:23 UTC

  Uruguay dairy exports jump 20% in value in first half of 2012 and reach 346m

  

  Uruguayan dairy exports in the first half of this year increased 30% in volume and 20% in value over the same period a year ago totalling 346 million dollars, according to the latest release from the National Milk Institute, Inale.

• Wednesday, July 11th 2012 - 03:03 UTC

  Roubini says ‘perfect storm’ is closer; forecasts Finland will leave the Euro before Greece

  

  Nouriel Roubini, or “Mr. Doom” who predicted earlier this year that a “perfect storm” scenario would play out in the global economy, has now said that his prediction is coming true, pointing to slow growth currently hitting the United States, Europe and China.

• Tuesday, July 10th 2012 - 21:17 UTC

  China feeling the strain of global slowdown: US overtakes EU as main export market

  

  China's June trade data stoked anxiety about the strength of domestic demand in the world's second biggest economy as imports rose at only half the pace expected, signalling a need for Beijing to do more to bolster growth.

• Tuesday, July 10th 2012 - 21:07 UTC

  Argentina reports the US and Japan before the WTO for restrictions on beef and lemons

  

  Argentina announced it has formally reported the United States and Japan before the World Trade Organization for the constant barriers set to Argentina’s meat and lemon exports to the afore mentioned countries.

• Tuesday, July 10th 2012 - 21:02 UTC

  The 34-country OECD has 48 million jobless with little hopes until 2014

  

  Unemployment in advanced economies will remain high until at least the end of 2013, with young people and the low-skilled bearing the brunt of what is by far the weakest economic recovery in the past four decades, the OECD said today.

• Tuesday, July 10th 2012 - 05:21 UTC

  Spain applies further budget savings and is granted another year to reach targets

  

  Euro-zone ministers agreed early on Tuesday to grant Spain an extra year until 2014 to reach its deficit reduction targets in exchange for further budget savings and set the parameters of an aid package for Madrid's ailing banks.