Economy

• Wednesday, December 14th 2011 - 18:05 UTC

  China questions safety of Brazil’s dry bulk carriers, the world’s largest

  

  China should be in no rush to allow Brazil’s new Valemax ships, the world's largest dry bulk carriers, into its ports, as they have not been thoroughly tested and any oil leak from one could be catastrophic, an influential Chinese industry group warned on Tuesday.

• Wednesday, December 14th 2011 - 17:48 UTC

  Mexican president criticizes the US on its financial misbalances

  

  President Felipe Calderon criticized its powerful neighbour, United States during a speech in which he outlined the G20 agenda for the next twelve months, including the summit, which is under the presidency of Mexico.

• Wednesday, December 14th 2011 - 17:04 UTC

  October marks UK highest unemployment level in 17 years

  

  The number of Britons out of work rose to its highest level in more than 17 years in October, and these jobless figures look set to rise further as firms facing the threat of a renewed recession cut back on staff.

• Wednesday, December 14th 2011 - 16:48 UTC

  OPEC agrees 30m bpd supply target; Saudis want oil below 100 dollars per barrel

  

  OPEC oil producers on Wednesday sealed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels firmly in Saudi Arabia's favour.

• Wednesday, December 14th 2011 - 05:02 UTC

  Brazilian bus manufacturer expands into the Australian market

  

  Brazil’s Marco Polo one of the world’s largest manufacturers announced on Tuesday it had purchased a 75% stake in the Volgren Australia bus building industry an operation involving 53 million dollars.

• Wednesday, December 14th 2011 - 03:56 UTC

  Argentine November inflation 1.44% and 22.63% in eleven months, say lawmakers

  

  Argentine Lower House opposition lawmakers announced on Tuesday that inflation in November had reached 1.44%, accumulating so far this year, 22.63%. The so called ‘Congressional index’ is an average of the estimates from private consultants who face heavy fines if they make public their numbers.

• Wednesday, December 14th 2011 - 03:52 UTC

  Sony to manufacture notebooks in Tierra del Fuego

  

  Argentina’s Ministry of Industry announced Tuesday an investment of 30 million dollars for the manufacturing of mini-components, notebooks and LCD television sets in the province of Tierra del Fuego, extreme south of the country.

• Wednesday, December 14th 2011 - 03:45 UTC

  Brazil’s development bank helping finance wind energy farms

  

  Brazil’s development bank, Banco Nacional de Desenvolvimento Economico e Social, BNDES, will provide 1.8 billion Reais (966 million dollars) to finance wind farms as the renewable energy source dominates government auctions for new power capacity.

• Tuesday, December 13th 2011 - 23:39 UTC

  US prosecutors charge former Siemens executives for paying bribes in Argentina

  

  United States prosecutors charged eight former Siemens AG executives with paying 100 million dollars in bribes for more than a decade to Argentina officials to help win a one billion dollars contract to produce national identity cards.

• Tuesday, December 13th 2011 - 23:33 UTC

  Fed anticipates exceptional low level rates at least through mid 2013

  

  The Federal Reserve on Tuesday made no changes to its interest rate policy but left the door open for further monetary easing next year depending on the impact of strains in the global financial markets (Europe’s debt problems).