Economy

• Saturday, December 3rd 2011 - 08:59 UTC

  Argentina and Brazil agree greater ‘productive integration mechanism”

  

  Argentine and Brazilian presidents Cristina Fernandez and Dilma Rousseff agreed in Caracas the creation of a Productive Integration Mechanism, MIP, to deepen bilateral relations.

• Saturday, December 3rd 2011 - 08:53 UTC

  Argentine government announces end of most subsidies for Buenos Aires City

  

  Argentine Economy Minister Amado Boudou and Planning Minister Julio De Vido announced on Friday further subsidy eliminations for utility services particularly in the City of Buenos Aires, which follows on previous subsidy cuts to several sectors implemented last month by the government of Cristina Fernandez.

• Saturday, December 3rd 2011 - 08:46 UTC

  US unemployment falls in November to a two and a half years low: 8.6%

  

  The US unemployment rate fell to a two and half year low of 8.6% in November and companies stepped up hiring, further evidence the economic recovery was gaining momentum.

• Friday, December 2nd 2011 - 22:42 UTC

  Sarkozy prepares the stage for next week’s announcement of a new EU treaty

  

  Prime Minister David Cameron held emergency talks with French President Nicolas Sarkozy on Friday, as France and Germany tried to drum up support for a new EU treaty to enforce budget discipline.

• Friday, December 2nd 2011 - 22:12 UTC

  Merkel warns Europeans face long, hard ‘marathon’ to restore lost credibility

  

  German Chancellor Angela Merkel called for rapid EU treaty change to remedy the root causes of the Euro zone's debt crisis but warned that Europeans faced a long, hard “marathon” to restore lost credibility.

• Friday, December 2nd 2011 - 20:01 UTC

  Paraguay’s November inflation index negative helped by a glut of beef

  

  Paraguay experienced negative inflation during the month of November influenced by the fall in meat prices, mainly beef, because of a ban on exports, which more than compensated an increase in fuel costs.

• Friday, December 2nd 2011 - 19:41 UTC

  Brazil ready to support IMF but demands greater power for BRICS countries

  

  Brazil conditioned the disbursement of more funds for the IMF to help countries in crisis to a greater say in the multilateral organization and the advance of European initiatives to solve the current Euro and debt crisis.

• Friday, December 2nd 2011 - 15:38 UTC

  Spanish regions pledge to control spending; unemployment reaches 21.52%

  

  Leaders of Spain’s indebted autonomous regions pledged on Thursday to control spending after meeting incoming Prime Minister Mariano Rajoy to discuss their troubled accounts, which are at the heart of the country’s economic crisis.

• Friday, December 2nd 2011 - 06:23 UTC

  Third quarter capital flight from Argentina reaches 8.433bn dollars, reports Central bank

  

  Capital flight from Argentina during the third quarter of this year totalled 8.443 billion dollars, almost four times during the same period a year ago, according to the latest report from the country’s central bank.

• Friday, December 2nd 2011 - 05:27 UTC

  In spite of regional challenges, Uruguay expects another successful summer season

  

  The loss of competitiveness with Brazil, the strong devaluation of the Argentine peso, the rigorous foreign exchange controls imposed by the government of President Cristina Fernandez and their possible impacts on the coming summer season, is some of the main concerns of the Uruguayan tourism industry.