Economy

• Thursday, June 14th 2012 - 11:19 UTC

  Indian delegation after investments and technology cooperation with Brazil

  

  India has invited companies from Brazil to invest in the country’s national infrastructure, manufacturing in Special Economic Zones and the food processing sector.

• Thursday, June 14th 2012 - 11:12 UTC

  Brazil announces 12bn dollars direct aid for state and city governments

  

  Anticipating further global market turmoil and ahead of October municipal elections, the Brazilian government will be announcing measures to prod the economy with direct support for states, cities and reversing corporate tax hikes, involving at least 25 billion Reais equivalent to 12 billion dollars.

• Thursday, June 14th 2012 - 10:49 UTC

  Shell drops plan to buy sugar cane grown on land taken from indigenous people

  

  Shell subsidiary that makes bio-diesel in Brazil has dropped controversial plans to buy sugar cane grown on land taken from indigenous people, according to Survival International.

• Thursday, June 14th 2012 - 02:47 UTC

  Argentina official May inflation 0.8% and 9.9% in the last 12 months

  

  Argentina's official inflation was 0.8% in May, the same as in April despite slowing economic growth, the government said on Wednesday. Inflation in the last twelve months stands at 9.9% and 4.3% in the first five months of the year.

• Thursday, June 14th 2012 - 01:22 UTC

  Greeks withdrawing money from banks ahead of Sunday election

  

  Greeks are withdrawing money from bank accounts ahead of elections amid fears the country may leave the euro, Greek banking officials say. The rate of cash outflows from Greek banks rose after parliamentary elections in May failed to give any party a mandate to govern.

• Wednesday, June 13th 2012 - 20:53 UTC

  Drastic cut in EU trade aid; most Latam countries will loose tariff preferences

  

  The European Parliament backed plans to take “high and upper-middle income” countries out of the bloc’s tariff preference system, the House informed on Wednesday following a vote on the issue.

• Wednesday, June 13th 2012 - 08:21 UTC

  Argentine dollar restrictions intensify malaise in real estate and the wider economy

  

  On June 7 the Argentine government presented a bill to require debt and new contracts are denominated in pesos, while the government is mulling the de-dollarisation of real estate contracts. This would make real estate purchases even more difficult than they currently are in a country with ever-tightening capital controls.

• Wednesday, June 13th 2012 - 08:17 UTC

  Cristina Fernandez announces plan to build 400.000 new houses in four years

  

  In an attempt to recover the political initiative and sliding opinion polls Argentine President Cristina Fernández announced the launching of an ambitious housing program aimed at building 400.000 homes in the next four years.

• Wednesday, June 13th 2012 - 06:28 UTC

  Stressed Lagarde’ faux pas: “more shortly than three months to save the Euro”

  

  Action to save the Euro is required in “more shortly than three months,” International Monetary Fund Managing Director Christine Lagarde said in an interview to CNN. The IMF chief response came after a reporter pressured the official to access billionaire investor George Soros’ remarks that Euro leaders had three months to save the Euro.

• Wednesday, June 13th 2012 - 06:22 UTC

  Moody’s downgrades Repsol rating, exposing vulnerability to YPF seizure

  

  Moody's Investors Service decided to slash the long-term rating of Spanish oil company Repsol after the Argentine government seized 51% stake of Argentina based YPF, formally run by Repsol.