Economy

• Thursday, August 11th 2011 - 23:17 UTC

  Unasur planning an emergency fund to help contain capital flight attacks

  

  The Unions of South American Nations, Unasur, finance officials are considering creating a 10 to 20 billion dollars emergency fund to assist nations that experience capital flight should the global economic crisis deepen, according to financial sources.

• Thursday, August 11th 2011 - 23:00 UTC

  Argentina’s financial “spin”

  

  On Sunday, Cristina Fernández de Kirchner will be seeking approval to lead the FPV in October’s general elections. With the country currently braving the world’s economic storm, she is keen to keep up appearances.

• Thursday, August 11th 2011 - 07:16 UTC

  Latam markets begin to take distance from the US and Euro zone

  

  Latin American stocks marked their own course on Wednesday as the region remained relatively distant to turmoil in the United States and Europe.

• Thursday, August 11th 2011 - 06:57 UTC

  Euro debt problems trigger hyper volatility in sensitive world markets

  

  Asian shares were mixed on Thursday as fears about the European debt crisis overshadowed the region's growth prospects. Japan's Nikkei 225 index was down 1.3%, with Hong Kong's Hang Seng also dropping by 1.5%.

• Thursday, August 11th 2011 - 06:31 UTC

  Three credit rating agencies confirm France as triple-A with stable outlook

  

  Moody’s, Standard & Poor's (S&P) and Fitch confirmed Wednesday that France still rates as a triple-A country with a stable outlook. The comments came in response to market rumours of a French sovereign credit rating downgrade, which hit French bank stocks.

• Thursday, August 11th 2011 - 06:27 UTC

  Snow storms in Magallanes have left 300.000 sheep and 9.200 cattle at risk

  

  Almost 300.000 sheep and 9.200 cattle are exposed to serious life risk following heavy snow storms which covered the Magallanes Region in the extreme south of Chile with a white blanket anywhere between 70 and 150 centimetres thick.

• Wednesday, August 10th 2011 - 20:32 UTC

  US to ask China why it needs an aircraft carrier and calls for military transparency

  

  The United States said Wednesday it would like China to explain why it needs an aircraft carrier amid broader US concerns about Beijing's lack of transparency over its military aims.

• Wednesday, August 10th 2011 - 19:33 UTC

  Zero probability of US default, “we can always print money to pay any debt”

  

  Former Federal Reserve Chairman Alan Greenspan downplayed the risk of a double-dip recession in the United States saying the domestic economy was in better shape compared to its European peers.

• Wednesday, August 10th 2011 - 18:11 UTC

  Brazil, as in 2008, will boost domestic market to cushion impact of global crisis

  

  For the second time in a week Brazilian president Dilma Rousseff said the country was prepared for the global financial turbulence, but said a strengthened domestic market was crucial to overcome the tough times ahead.

• Wednesday, August 10th 2011 - 17:54 UTC

  Venezuelan inflation soars 2.7% in July; accumulates 25.1% in twelve months

  

  Venezuelan July inflation, as measured by the national index INPC, came in on the high side of expectations at 2.7%, up from June.