Economy

• Saturday, December 10th 2011 - 05:55 UTC

  Argentina and Brazil agree to jointly promote trade and manufacturing

  

  Argentina and Brazil agreed on Friday to “increase” in the “short term” regional trade in a shared strategy to address the consequences of the global crisis. The commitment was endorsed by Argentina’ Industry minister Debora Giorgi and her Brazilian counterpart Fernando Pimentel.

• Saturday, December 10th 2011 - 05:52 UTC

  IMF praise for Uruguay but warns about the need of labour flexibility

  

  The IMF recommended Uruguay greater flexibility in the management of macroeconomic policy, ahead of unexpected changes in the international scenario.

• Saturday, December 10th 2011 - 05:51 UTC

  “I think I did the right thing for Britain”, says PM Cameron

  

  British PM David Cameron has defended his decision to block an EU-wide treaty change to tackle the Euro zone crisis, despite warnings it will leave the UK isolated.

• Friday, December 9th 2011 - 07:16 UTC

  November inflation in Brazil up 0.52% and 6.64% in last twelve months

  

  Brazilian consumer prices rose faster than expected in November. Inflation as measured by the benchmark IPCA index, quickened to 0.52% last month from 0.43% in October.

• Friday, December 9th 2011 - 07:12 UTC

  Euro rescue deal limited to 17-EU countries and with a March deadline

  

  Attempts to rescue the Euro will focus on a deal among the 17 nations that use the single currency, French President Nicolas Sarkozy said early Friday.

• Friday, December 9th 2011 - 07:08 UTC

  UN expert calls on Argentina to improve living conditions of indigenous groups

  

  A United Nations expert urged Argentina to strengthen its measures to protect the human rights of indigenous groups as well as their rights to land ownership and education, adding that a mechanism to establish dialogue between them and the Government is urgently needed.

• Friday, December 9th 2011 - 07:02 UTC

  European Central bank cuts rate to record low 1% to fight recession and deflation

  

  The European Central Bank cut interest rates by a quarter of a point Thursday to counter the twin threats of recession and deflation in the Euro zone, and is expected to unveil fresh measures to help banks hurt by the bloc's debt crisis.

• Friday, December 9th 2011 - 06:58 UTC

  European banks must increase capitalization to 114.7bn Euros by next June

  

  Europe's banks must increase their capital by 114.7 billion Euros, more than predicted two months ago, to make them strong enough to withstand the Euro zone debt crisis and restore investor confidence, Europe's banking watchdog said.

• Friday, December 9th 2011 - 06:24 UTC

  Falklands condemns Argentina for early opening of the Illex fishery

  

  The new Chair of the Falkland Islands Fishing Company Association condemned Argentina for their two month early opening of their illex (squid) fishing season, “with complete disregard for conservation of the stock”.

• Friday, December 9th 2011 - 06:11 UTC

  Bank of England leaves rates unchanged at the record low 0.5%.

  

  UK interest rates were held at a record low of 0.5% by the Bank of England's Monetary Policy Committee on Thursday.