Economy

• Wednesday, November 23rd 2011 - 23:07 UTC

  WTO cuts world’s export growth to 5.8%; warns on unilateral actions

  

  The World Trade Organization slashed its forecast for the world’s export growth to just 5.8% for the year, down from 6.5%. WTO Director-General Pascal Lamy, in his annual report said that world trade has slowed “considerably” in recent months.

• Wednesday, November 23rd 2011 - 20:37 UTC

  Brazil expects a flat third quarter but a strong recovery by end of the year

  

  The performance of the Brazilian economy during the third quarter “could very well be flat” according to Nelson Barbosa the second most important man behind Guido Mantega in the Finance ministry.

• Wednesday, November 23rd 2011 - 20:33 UTC

  Berlin and Paris again clash over ECB; Euro confidence crisis on German shore

  

  Germany and France again on Wednesday over whether the European Central Bank should take bolder steps to stem the Euro zone debt crisis, with Chancellor Angela Merkel issuing one of her starkest warnings yet against fiddling with the central bank's strict inflation-fighting mandate.

• Wednesday, November 23rd 2011 - 20:23 UTC

  Weaker currency helps Brazil recover strong trade surplus

  

  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 23rd 2011 - 20:19 UTC

  Global markets slide overwhelmed by negative news

  

  Global markets fell Wednesday after more evidence emerged that the global economy is faltering fast and that the Euro zone is heading for a recession as the debt crisis spreads to the bigger economies like Italy and Spain.

• Wednesday, November 23rd 2011 - 20:07 UTC

  Brazil’s Marfrig deeper in the red but beef division manages turnaround

  

  A slump the Brazilian currency Real landed Marfrig deeper in the red despite an improved operating result, lifted by takeovers and better tailoring its beef operations to a shortage of cattle.

• Wednesday, November 23rd 2011 - 06:27 UTC

  CFK promises pro-growth model, industrial “fine tuning” and dialogue

  

  In a milestone speech on Tuesday anticipating the four years of her next mandate, Argentine President Cristina Fernandez disclosed she would continue with pro-growth policies but also added that a time of ‘fine tuning’ had arrived in which she was willing to address all issues including “investment and inflation” but not through the newspapers.

• Wednesday, November 23rd 2011 - 06:25 UTC

  Head of Spain’s main banking group meets with Brazilian president

  

  The president of Spain’s banking group Santander Emilio Botin described Brazil as “a very interesting market for Spain” following a meeting with Brazilian president Dilma Rousseff.

• Wednesday, November 23rd 2011 - 02:53 UTC

  Argentine minister tells industry to invest 30bn dollars annual to ensure 7% growth

  

  Argentine Industry Minister, Débora Giorgi, came on stage Tuesday at the Industrial Union’s annual conference to defend the “Kirchnerite economic model”, and warned that in order to keep an average growth of 7% as asked by businessmen, they would have to increase their annual investments to 30 billion dollars.

• Wednesday, November 23rd 2011 - 00:44 UTC

  Uruguay business elite and officials reminded of the Asian-Pacific basin might

  

  It was to be a “complaints as usual day” plus the announcement Uruguay is poised for another year of record exports, close to 12 billion dollars. But the speaker contracted for the celebration of Exporter’s Day left the Uruguayan business audience and government officials quite surprised.