Economy

• Friday, December 9th 2011 - 07:16 UTC

  November inflation in Brazil up 0.52% and 6.64% in last twelve months

  

  Brazilian consumer prices rose faster than expected in November. Inflation as measured by the benchmark IPCA index, quickened to 0.52% last month from 0.43% in October.

• Friday, December 9th 2011 - 07:12 UTC

  Euro rescue deal limited to 17-EU countries and with a March deadline

  

  Attempts to rescue the Euro will focus on a deal among the 17 nations that use the single currency, French President Nicolas Sarkozy said early Friday.

• Friday, December 9th 2011 - 07:08 UTC

  UN expert calls on Argentina to improve living conditions of indigenous groups

  

  A United Nations expert urged Argentina to strengthen its measures to protect the human rights of indigenous groups as well as their rights to land ownership and education, adding that a mechanism to establish dialogue between them and the Government is urgently needed.

• Friday, December 9th 2011 - 07:02 UTC

  European Central bank cuts rate to record low 1% to fight recession and deflation

  

  The European Central Bank cut interest rates by a quarter of a point Thursday to counter the twin threats of recession and deflation in the Euro zone, and is expected to unveil fresh measures to help banks hurt by the bloc's debt crisis.

• Friday, December 9th 2011 - 06:58 UTC

  European banks must increase capitalization to 114.7bn Euros by next June

  

  Europe's banks must increase their capital by 114.7 billion Euros, more than predicted two months ago, to make them strong enough to withstand the Euro zone debt crisis and restore investor confidence, Europe's banking watchdog said.

• Friday, December 9th 2011 - 06:24 UTC

  Falklands condemns Argentina for early opening of the Illex fishery

  

  The new Chair of the Falkland Islands Fishing Company Association condemned Argentina for their two month early opening of their illex (squid) fishing season, “with complete disregard for conservation of the stock”.

• Friday, December 9th 2011 - 06:11 UTC

  Bank of England leaves rates unchanged at the record low 0.5%.

  

  UK interest rates were held at a record low of 0.5% by the Bank of England's Monetary Policy Committee on Thursday.

• Thursday, December 8th 2011 - 20:39 UTC

  OIE puts Paraguay in FMD list; Brazil reopens market to mature boneless beef

  

  The World Animal Health Organization, OIE, dependent from FAO, informed Paraguay that its territory had lost the condition of free of foot and mouth disease with vaccine, following an outbreak of the disease reported September 18.

• Thursday, December 8th 2011 - 20:26 UTC

  Hammond: “no going back” on defence cuts and “it will not be easy or pain-free”

  

  The UK Defence secretary Philip Hammond issued a sharp warning that there can be ‘no going back’ on the government’s cuts to the armed forces made in last year’s Strategic Defence and Security Review (SDSR).

• Thursday, December 8th 2011 - 19:54 UTC

  Uruguay with “two economic teams, let us not play with fire” warns top economist

  

  The academic director of a Conservative think-tank, questioned Uruguayan president Jose Mujica attitudes and expressed the growing concern in the local business community and internationally about the fact the country seems to have two different economic teams.