Economy

• Friday, November 18th 2011 - 05:27 UTC

  Peugeot and GM Argentina promise not to remit dividends for two years

  

  The French auto consortium Peugeot-Citröen agreed with the Argentine government not to remit earnings during two years (2011/2012), approximately 50 million dollars announced Argentine government sources.

• Thursday, November 17th 2011 - 23:41 UTC

  Paraguay’s wheat exports doubled in a year to over a million tons

  

  Paraguay’s wheat exports have doubled in 2011 compared to the previous year and has increased 33 fold in the last decade, and this has been based on a government-private effort of investing in scientific research and technology.

• Thursday, November 17th 2011 - 22:25 UTC

  Santiago air terminal will be expanded to handle 24m pax annually by 2017

  

  Chilean Public Works minister Laurence Golborne announced this week a 500 million dollars plan to revamp Santiago’s air terminal to address the ever growing number of national and international passengers.

• Thursday, November 17th 2011 - 22:20 UTC

  Greek bond holders prepare for 50% ‘hair cut’ discussions involving 100bn Euros

  

  Greece and holders of its debt hope to agree on a proposal to halve its privately held debt within weeks, both sides said on Thursday, raising hopes that a key pillar of Greece's 130 billion Euros bailout is still on track.

• Thursday, November 17th 2011 - 20:01 UTC

  Latin American economy has entered cooling phase, says Brazilian think-tank

  

  The Latin American economy has entered a declining phase and will further slow down in coming months according to a report from the Brazilian think-tank Getulio Vargas Foundation, FGV.

• Thursday, November 17th 2011 - 19:56 UTC

  Germany and France clash over a greater role for the European Central bank

  

  German Chancellor Angela Merkel reiterated Thursday her opposition to a greater role for the European Central Bank in helping to solve the Euro zone debt crisis, saying political action was required.

• Thursday, November 17th 2011 - 19:53 UTC

  Moody downgrades ratings of ten German public-sector banks

  

  Moody’s ratings agency decided on Thursday to surprisingly downgrade the rating of ten German public-sector banks. This is the first time Europe’s largest economy in the region, which keeps the Euro zone afloat, is hit.

• Thursday, November 17th 2011 - 18:54 UTC

  Uruguay is Mexico’s strategic partner in Mercosur says President Calderon

  

  The Mexican president underlined the strategic importance of Uruguay since it is the only Mercosur member that has a free trade agreement with Mexico, thus making it the ‘strategic partner’ of Mexico in Mercosur.

• Thursday, November 17th 2011 - 07:08 UTC

  Mercosur is not moving but Uruguay “will not stay put licking its wounds”

  

  Uruguayan president Jose Mujica said that Mercosur “is not moving forward or backwards” but is certainly working much better than the European Union where old experienced nations “made a mess of it”. Nevertheless, Uruguay will not stay put “licking its wounds”, it will look for other trade links.

• Thursday, November 17th 2011 - 07:04 UTC

  Top banker forecasts ‘dollar run’ in Argentina will dissolve: plenty of reserves

  

  The former head of the Argentine Central Bank, Mario Blejer assured on Wednesday that in the exchange market “tension has been created which will only start to dissolve as and when we minimize the analysis of the subject.”