Economy

• Tuesday, August 30th 2011 - 03:55 UTC

  CFK instructions for the day after: public spending cap of 20% for 2012 budget

  

  Argentina's 2012 budget bill aims to cap public spending growth at 20%, below current rates of more than 35%, as state expenditure surges ahead of the October presidential election, according to a newspaper report on Monday.

• Tuesday, August 30th 2011 - 03:54 UTC

  Argentina regulator to investigate YPF and Repsol YPF on accounting standards

  

  Argentina’s securities regulator said it will investigate the chairman and chief executive officer of YPF SA, the nation’s largest oil producer, as part of a probe into the company’s accounting.

• Tuesday, August 30th 2011 - 03:53 UTC

  Uruguay plan to regularize 676 shanty towns (200.000 people), most in Montevideo

  

  Uruguay announced it will invest 150 million dollars for the eradication of shanty towns, 90% of which are located in Montevideo, half of them in contaminated and flood-prone areas.

• Tuesday, August 30th 2011 - 03:52 UTC

  In divided ballot Japan’s ruling party chooses new PM, the sixth in five years

  

  Japanese Finance Minister Yoshihiko Noda was chosen Monday to become the sixth prime minister in five years, but he needs to overcome a divided parliament and deep rifts in the ruling party if he is to make more of a mark than his recent predecessors.

• Tuesday, August 30th 2011 - 03:48 UTC

  Obama names labour expert as White House advisor in economics

  

  US President Barack Obama announced Monday he has chosen Princeton University labour economist Alan Krueger to become the top White House economist, a White House official said.

• Tuesday, August 30th 2011 - 03:47 UTC

  New York City recovering from Irene, but Vermont ravaged by flood waters

  

  Although hurricane Irene crossed into Canada overnight Sunday but wasn't yet through with the United States, where flood waters in Vermont caused the greatest damage in 75 years and in New York state big city commuters had to make do with slowly reawakening transit systems.

• Tuesday, August 30th 2011 - 03:44 UTC

  Chilean judge investigating Carabineros over killing of student

  

  An officer from Chile’s gendarmerie-police, Carabineros was asked to resign Monday after admitting to using his firearm in the Macul borough of Santiago near where 16-year-old Manuel Gutiérrez Reinoso was shot and killed Thursday night.

• Tuesday, August 30th 2011 - 03:42 UTC

  Business leaders and organized labour ignore Argentina’s official inflation index

  

  Following the agreement which raised the Argentine minimum wage by 25%, equivalent to 549 dollars per month, business leaders and representatives from the labour unions admitted that when it comes to salaries negotiations the official inflation index from the government statistics office, Indec, “is not taken into account”.

• Tuesday, August 30th 2011 - 03:39 UTC

  Argentina expects another car production record next year: a million units

  

  The Argentine automobile industry will expand its production capacity to a million units annually by 2012 following on the expected record production of 840.000 this year boosted by domestic demand and exports to brazil, said Anibal Borderes president of the country’s Automobile Manufacturers Association, Adefa.

• Monday, August 29th 2011 - 08:34 UTC

  Brazil loosing industry to Mercosur members with cheaper costs and lower taxes

  

  Brazilian business and manufacturing leaders are demanding a “fiscal harmonization” of the Mercosur block since other full members are attracting a growing number of Brazilian companies to those countries lured by cheap energy and qualified labour.