Economy

• Wednesday, October 19th 2011 - 16:33 UTC

  Great China (Beijing, HK, Singapore, Taiwan) reducing holdings of US debt

  

  China has reduced its holdings of US debt to their lowest level in a year, after the US's credit rating was downgraded by Standard & Poor's (S&P). China sold 36.5bn dollars in US Treasuries or bonds to cut its holding to 1.137bn in August, latest data by the US Treasury Department showed.

• Wednesday, October 19th 2011 - 07:27 UTC

  Germany committed to an EU/Mercosur trade agreement said Merkel

  

  The European Union will seek to further discussions over a trade deal with Mercosur at the upcoming G20 summit in Cannes in November announced on Tuesday German Chancellor Angela Merkel alongside visiting Uruguayan president Jose Mujica.

• Wednesday, October 19th 2011 - 07:15 UTC

  Another face of American Airlines

  

  ”Welcome to our oneworld Alliance!” In his jovial and gentlemanly manner, Art Torno, American Airline's Vice President - New York, welcomed members of the Foreign Press Association on board the world of alliances and other topics regarding today's aviation industry.

• Wednesday, October 19th 2011 - 07:11 UTC

  Argentina’s economy still roaring at full speed, say official stats

  

  Argentina’s monthly economic activity index (EMAE) climbed 8.6% in August, compared to the same month of 2010 and 0.6% over July, Indec the national statistics bureau reported Tuesday.

• Wednesday, October 19th 2011 - 06:58 UTC

  The Guardian reports Germany and France agreed on 2 trillion Euros rescued fund

  

  The Guardian newspaper reported on Tuesday that France and Germany had agreed to boost a euro zone financial rescue fund to two trillion Euros pushing US stocks and the Euro higher despite doubts about whether there was such an agreement.

• Wednesday, October 19th 2011 - 06:55 UTC

  Spain’s leading banker says “obligatory” recapitalization could further weaken banking system

  

  Spain’s Banco Santander SA Chairman Emilio Botin warned of the risks of an “obligatory, indiscriminate” recapitalization of European banks without a final resolution of the sovereign debt crisis.

• Wednesday, October 19th 2011 - 06:51 UTC

  Subtle warning from Moody’s to Paris on the French banking system

  

  In a carefully worded statement, Moody's Investor Service hinted that the outlook for France's top-tier credit rating could be at risk. The nation still enjoys “very high government financial strength,” said the ratings agency in its annual credit report on France, released late Monday.

• Wednesday, October 19th 2011 - 06:44 UTC

  Rousseff calls on rich countries for a ‘credible agreement’ to overcome EU crisis

  

  Leaders from India, Brazil and South Africa on Tuesday urged the world's rich countries to contain their financial crises and prevent the global economy from slipping into a double dip recession.

• Wednesday, October 19th 2011 - 06:22 UTC

  “Vulnerable to funding stress” Moody’s downgrades Spain’s sovereign rating

  

  Moody's Investors Service cut Spain's sovereign ratings by two notches, saying high levels of debt in the banking and corporate sectors leave the country vulnerable to funding stress.

• Wednesday, October 19th 2011 - 01:25 UTC

  Good prospects for Falklands’ tourism arrivals, with cruise visitors up 17%

  

  The Falkland Islands Tourist Board has just completed its latest Falklands Forecast and all indications are showing a positive increase across the board for the 2011-2012 tourism season.