Economy

• Thursday, October 20th 2011 - 21:36 UTC

  Brazil lowers basic rate half a point for a second time running to 11.5%

  

  Brazil’s central bank cut borrowing costs by half a point for a second straight meeting. The bank’s board, led by President Alexandre Tombini, voted unanimously to reduce the benchmark Selic rate to 11.5% from 12% percent.

• Thursday, October 20th 2011 - 21:22 UTC

  European Union remains split on how to strengthen Euro zone bailout fund

  

  The European Union has agreed that around 100 billion Euros is needed to recapitalise the European banking system, but splits remain before a high-profile summit on Sunday over how to strengthen the Euro zone's bailout fund.

• Thursday, October 20th 2011 - 07:08 UTC

  “Few chances” of an EU/Mercosur trade agreement in a context of global crisis

  

  In the current global context “it’s hard to see an advance in the free trade negotiations with the European Union” said on Wednesday the block’s High representative Ambassador Samuel Pinheiro Guimaraes.

• Thursday, October 20th 2011 - 07:05 UTC

  IBSA group plans 25bn trade and FTA with Mercosur and Sacu

  

  In an attempt to accelerate talks on a trilateral free trade agreement (FTA) , the India-Brazil-South Africa (IBSA) summit decided to hold an annual meeting of trade ministers from the three countries beginning from March next year.

• Thursday, October 20th 2011 - 07:00 UTC

  Lula da Silva: only way out for the crisis is growth and jobs, not balanced budgets

  

  Former Brazilian president Lula da Silva recommended European Union leaders to stop discussing balancing budgets and recapitalization of banks and find a solution to the current crisis through more economic growth, more trade and more jobs.

• Thursday, October 20th 2011 - 06:42 UTC

  Argentina poised to become a poultry power over the coming years

  

  The Dutch-based agro-investment bank Rabobank believes that Argentina is primed for significant and very competitive growth, where poultry production is concerned over the coming years.

• Thursday, October 20th 2011 - 04:21 UTC

  ‘The role of the State’ to be discusses in the Ibero-American summit

  

  “State reform and development” will be driving force of the coming Ibero-American summit to take place next week, October 28/29 in Paraguay and already has the attendance confirmation of eighteen presidents, according to the organizers.

• Thursday, October 20th 2011 - 04:07 UTC

  UK Parliament praises Brazil, but regrets its ‘hardening’ policy towards Falklands

  

  Britain’s House of Commons strongly supports a closer bilateral relationship with Brazil, which it describes as a democratic, well governed, responsible state but regrets the hardening position of Brazil towards the Falklands and the HMS Clyde incident.

• Thursday, October 20th 2011 - 00:03 UTC

  European leader shocked by Argentine arrogance and satisfaction over EU crisis

  

  Spain’s former president Felipe Gonzalez said that Latin American countries which in the eighties suffered financial problems because of the debt crisis are now looking on the European economic situation with “some joy”.

• Wednesday, October 19th 2011 - 23:12 UTC

  Plan to tackle Euro debt crisis stalled; Sarkozy flies to Berlin to meet Merkel

  

  Plans to tackle the Euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region's bailout fund, French President Nicolas Sarkozy said on Wednesday afternoon.