Economy

• 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.

• Tuesday, November 22nd 2011 - 23:03 UTC

  Uruguay hopeful it can reach a tax-data exchange agreement with Argentina

  

  “Negotiations are on the right track” and should be concluded in coming months, said Uruguayan sources adding that one of the current difficulties is what will happen with the Argentine negotiating team, following December 10 when re-elected President Cristina Fernandez takes office for her second consecutive four year mandate.

• Tuesday, November 22nd 2011 - 22:13 UTC

  Astori forecasts record tourist season in Uruguay but cautions about the US dollar

  

  Uruguay’s Vice president Danilo Astori downplayed the effects of Argentina’s restrictive measures for the purchase of dollars and forecasted an excellent summer season with hundreds of thousands of Argentines tourists visiting Uruguay.

• Tuesday, November 22nd 2011 - 22:07 UTC

  Uruguay’s central bank confident about commodities’ price prospects

  

  Uruguay’s Central bank sees “few probabilities” of a strong deceleration in emerging economies or a ‘significant’ fall in commodities prices even when lately there has been a drop in the value of grains although still above their historic average.

• Tuesday, November 22nd 2011 - 22:00 UTC

  Brazil makes official support for Uruguay in ‘fiscal haven’ controversy with G20

  

  Brazil’s Foreign Affairs minister Antonio Patriota said Brasilia supports Uruguay in its controversy with France following President Nicholas Sarkozy claim, at the recent G20 summit, that Uruguay was a ‘fiscal haven’.