Economy

Tuesday, November 22nd 2011 - 07:19 UTC
Argentine industry supports subsidy-elimination policy, but calls for gradualism

Argentine president Cristina Fernandez received strong support from the industrial sector for her latest policy of eliminating subsidies which are widely extended in the economy, but manufacturers also called for prudence and gradualism.
Tuesday, November 22nd 2011 - 03:54 UTC
Peruvian president at China trade forum: “we sell oranges and they send us marmalade”

Peruvian President Ollanta Humala emphasized on Monday the importance of trade and investment relations with China, both for Peru and the region during the opening in Lima of the two-day 5th China-Latin America Business Summit
Tuesday, November 22nd 2011 - 01:46 UTC
World Bank loan to help Uruguayan farmers address climate change consequences

The World Bank approved last week a loan for 49 million dollars to support Uruguayan farmers in adopting environmentally sustainable practices to improve the resilience of their production systems in response to the effects of climate variability.
Tuesday, November 22nd 2011 - 00:40 UTC
Brazil imposes maximum fine on Chevron for oil spill, but more sanctions in the pipeline

$Environment Minister Teixeira, “five of six more fines if more infractions are found”$

Brazil’s environmental agency said on Monday it will fine US Chevron 50 million Reais, nearly 28 million dollars, for a continuing oil spill off the coast of Rio de Janeiro and the company could face several more similar fines in the coming days.
Tuesday, November 22nd 2011 - 00:33 UTC
France in the Euro-debt firing line: Moody’s warns of negative outlook

A rise in interest rates on French government debt and weaker growth prospects could be negative for the outlook on France's credit rating, Moody's warned in a report released Monday, adding to pressure on European debt markets.
Tuesday, November 22nd 2011 - 00:25 UTC
CNN poll shows same partisan divide on federal budget deficit cuts among US voters

The latest CNN poll shows that the same partisan divide that has kept the US congressional super committee from reaching a federal budget deficit reduction deal also exists among US voters who identify with a political party.
Tuesday, November 22nd 2011 - 00:19 UTC
US political stalemate as the Congress fails to agree on budget cuts and debt

A special debt-reduction committee in the US Congress failed to reach agreement, extending partisan gridlock into the 2012 election year and setting the stage for 1.2 trillion dollars in automatic spending cuts.
Tuesday, November 22nd 2011 - 00:11 UTC
Spanish president-elect Rajoy will only say he has mandate for austerity measures

President-elect Mariano Rajoy resisted pressure on Monday to disclose his plans for rescuing Spain from economic disaster, keeping anxious Spaniards and impatient investors on edge following his election triumph.
Monday, November 21st 2011 - 15:31 UTC
A third of metropolitan Buenos Aires live below poverty line claims Catholic Church

Over a third of metropolitan Buenos Aires, 34.9%, live below the poverty line which is equivalent to 4.4 million people, more than double the official Argentine government estimate, according to a paper from the Argentine Catholic University, UCA, and the local Caritas chapter from the Catholic Church.
Monday, November 21st 2011 - 07:47 UTC
Mujica says Brazil supports Uruguay in the fiscal haven controversy with G20

President Jose Mujica said on Sunday that his peer from Brazil Dilma Rousseff will make a strong declaration in support of Uruguay when the next G20 summit to counter French President Nicholas Sarkozy recent statements in Cannes describing one of Mercosur junior members as a “fiscal haven”