Economy

Sunday, April 1st 2012 - 08:13 UTC
Brazil considering tax breaks and higher tariffs to help struggling industries

Brazil will extend a payroll tax break to some manufacturers as part of a package of new measures to help struggling industries in a move to help the recovery of Latin America's top economy, a senior government source revealed to the local media.
Sunday, April 1st 2012 - 08:02 UTC
Argentina targets Mexican car imports and considers revoking trade agreement

Argentina is considering applying measures to restrict the import of Mexican cars, which could include unilaterally denouncing the Economic Complementation Agreement (ACE) 55, which regulates bilateral trade, Argentine government sources told local media, ámbito.com.
Sunday, April 1st 2012 - 07:58 UTC
Oil leaks cast a shadow over the development of Brazil’s offshore huge reserves

Brazilian authorities identified a small oil leak off the shores of Rio de Janeiro on Saturday, the latest in a series of spills that has raised safety concerns over the development of some of the world's largest petroleum reserves.
Saturday, March 31st 2012 - 06:41 UTC
Argentina rejects WTO members’ criticisms; confirms ‘sovereign trade policies’

The Argentine government ratified its trade policies before the World Trade Organization, following the criticism of Argentine trade restrictions from twelve countries, including the US, EU and Japan, and assured it will continue to decide on its trade policies in a sovereign manner.
Saturday, March 31st 2012 - 06:17 UTC
Uruguay reveals the existence of an “Argentina 2020: imports substitution” plan

Uruguay’ Foreign Affairs Minister Luis Almagro revealed that the government of President Cristina Fernandez is fully involved in the implementation of a plan called “Argentina 2020: substitution of imports” and therefore bilateral trade negotiations that are difficult, will continue on that same path for several years.
Saturday, March 31st 2012 - 01:08 UTC
US/Uruguay free trade accord, among priorities of new ambassador in Montevideo

The new US ambassador in Uruguay, confirmed this week by the US Senate, expects to hold contacts with Uruguayan authorities to promote and negotiate a free trade agreement.
Friday, March 30th 2012 - 20:18 UTC
Argentina blasted at WTO for its trade-restrictive measures and lack of transparency

Argentina received a barrage of criticism at the World Trade Organization on Friday where the United States, European Union, Japan and 10 other countries accused it of tying imports up in red tape. They also requested Argentina provide a detailed written explanation of why in its view “these measures and practices are consistent with WTO rules”.
Friday, March 30th 2012 - 17:16 UTC
US lottery jackpot stands as a record 640 million dollars; some recommendations

US lottery officials say they are increasing the MegaMillions lottery jackpot to 640 million dollars increasing what was already a world record prize. The previous record jackpot was 390 million dollars in 2007.
Friday, March 30th 2012 - 17:04 UTC
PetroChina replaces Exxon-Mobil as world’s largest publicly traded oil producer

Beijing oil company PetroChina has become the world’s largest publicly-traded oil producer, surpassing Exxon Mobil Corp. in production last year, reported several international news agencies.
Friday, March 30th 2012 - 16:58 UTC
Spain announced toughest austerity budget since the return of democracy

Spain is cutting 27bn Euros from its budget this year as part of one of the toughest austerity drives in its history. Changes will include freezing public sector workers' salaries and reducing departmental budgets by 16.9%.