Economy

• Thursday, November 3rd 2011 - 07:55 UTC

  Fitch warns Argentina on foreign exchange controls and inflation

  

  Fitch Ratings agency warned Wednesday that Argentina’s new dollar controls and measures aimed at curbing capital flight could narrow Cristina Fernández political options range.Likewise, the agency stated in the communiqué that the “continuity of such unorthodox policies represent nothing but risk.”

• Thursday, November 3rd 2011 - 07:45 UTC

  Sarkozy tells the Greeks: shape up or ship out from the Euro zone

  

  Greece will receive no more European bailout aid until it has put an end to uncertainty and agreed to meet its commitments to the Euro zone, the leaders of France and Germany said on Wednesday.

• Wednesday, November 2nd 2011 - 20:54 UTC

  Brazil receives 8bn dollars loan to lift another 16 million people from ‘misery’

  

  Brazil will receive 8 billion dollars in financing from the World Bank to push its campaign to uproot extreme hardship deeper into some of the country's poorest areas, the bank said on Wednesday.

• Wednesday, November 2nd 2011 - 20:35 UTC

  Germany/France lashes out at Papandreou and establish mid-December deadline

  

  Germany and France told Greece on Wednesday it should make up its mind by mid-December whether it wants to stay in the Euro zone when Greeks vote on a 130-billion-Euro bailout.

• Wednesday, November 2nd 2011 - 20:26 UTC

  “End of subsidies with no utility rates modifications” announces Argentina

  

  Economy Minister Amado Boudou and Planning Minister Julio de Vido announced Wednesday in a press briefing, a full lift on subsidies; a decision which will reach various public sectors, including electricity gas and water companies. The changes imply annual fiscal savings of 600 million pesos (140 million dollars).

• Wednesday, November 2nd 2011 - 18:08 UTC

  Federal Reserve in upbeat tone votes to maintain bond buying program

  

  The US Federal Reserve announced Wednesday after a two-day meeting to keep interest rates on hold and maintain its bond buying programs. The decision was entirely as expected by markets and economists.

• Wednesday, November 2nd 2011 - 04:44 UTC

  Brazil heading for another record trade surplus close to 30 billion dollars

  

  Brazil posted a trade surplus of 2.355 billion dollars in October, beating forecasts for a third straight month, outpacing imports in the final days of the month following a recovery in global commodities prices.

• Wednesday, November 2nd 2011 - 04:40 UTC

  Brazilian industrial production contracts the most in five months

  

  Brazilian industrial production fell more than expected in September, posting its steepest decline in five months and bolstering the central bank’s argument for more interest-rate cuts in Latin America’s largest economy.

• Wednesday, November 2nd 2011 - 04:20 UTC

  Argentine economy to expand 9% this year, says the Central Bank

  

  Argentina’s central bank estimates that the country’s economy will expand 9% in 2011, above the central government forecast of 8.3%, according to the latest quarterly report released this week.

• Wednesday, November 2nd 2011 - 03:53 UTC

  LAN and TAM move ahead with merger to be completed in early 2012

  

  Chilean flag-carrier LAN SA and Brazil's TAM SA have unveiled senior management changes as their plan to merge advances. The merger is expected to be completed in the first quarter, and will see the two airlines taken over by a new holding company, LATAM Airlines Group, the companies said in a statement.