Economy

• Wednesday, February 23rd 2011 - 06:24 UTC

  Ireland flatly opposes beef quotas in current EU/Mercosur trade talks

  

  Beef quotas being sought by the Mercosur countries as part of the ongoing negotiations with the EU were “simply not acceptable”, said Ireland’s Minister for Agriculture, Brendan Smith.

• Tuesday, February 22nd 2011 - 06:58 UTC

  Pan American Energy, --partly Chinese owned--, keeps expanding in Argentina

  

  Argentina's Pan American Energy will sign a deal later this month to buy Exxon Mobil local downstream unit Esso, turning the company into a fully integrated oil and gas producer. Pan American Energy is a unit of Bridas Corp., which is jointly owned by Argentina's Bulgheroni family through Bridas Energy Holdings and China's Cnooc Ltd.

• Tuesday, February 22nd 2011 - 06:42 UTC

  Argentina has ignored Mercosur rules and is now harvesting the benefits

  

  Even when Uruguay and Brazil are in the course of reaching understandings with Argentina regarding the latest trade restrictions to be implemented by President Cristina Fernandez de Kirchner administration, ‘which are not targeted against Mercosur members’, the Brazilian press presents another angle.

• Tuesday, February 22nd 2011 - 06:19 UTC

  “Multiple fatalities” as quake strikes New Zealand’s second city at busy mid-day

  

  Rescuers dug frantically for bodies and people trapped after a major 6.3 earthquake caused “multiple” deaths in New Zealand's second city of Christchurch Tuesday, crushing buildings and vehicles.

• Tuesday, February 22nd 2011 - 06:11 UTC

  Ireland main parties’ leaders pledge to condition any trade deal with Mercosur

  

  Leaders of Ireland’s three main parties pledged on Monday to oppose any trade deal with Mercosur countries which could damage Irish exports if EU standards of production are not adhered to, reports the Irish Times.

• Tuesday, February 22nd 2011 - 04:18 UTC

  Uruguay/Argentina working on ‘fast track’ to address trade differences

  

  Uruguay and Argentina are discussing a ‘fast track’ mechanism that will allow Uruguayan exports to have quick access to the neighbour’s market thus avoiding the controversial trade restrictions recently announced by the administration of President Cristina Fernandez de Kirchner and which have surprised Mercosur partners.

• Tuesday, February 22nd 2011 - 03:52 UTC

  FT warns Brazil could be approaching a “US like sub-prime” situation

  

  The Financial Times warns that in spite of the current optimism about the performance of the Brazilian economy, the country could be heading to a ‘sub-prime’ crisis ‘worryingly’ similar to that experienced by the United States.

• Tuesday, February 22nd 2011 - 00:19 UTC

  President Rousseff promises Brazilian economy will speed up in 2012

  

  Brazil’s economy will pick up speed in 2012, said President Dilma Rousseff on Monday addressing northeast governors concerned that recent announced budget cuts could limit economic activity and support for the area that depends from federal handouts.

• Tuesday, February 22nd 2011 - 00:03 UTC

  China raised fuel prices for the second time in three months

  

  China has raised fuel prices for the second time in three months as it looks to offset a jump in global crude costs. However, the move has raised questions over government attempts to slow inflation.

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

  A fatiguing marathon ahead for debt strained Euro zone countries, says ECB

  

  European Central Bank policymaker Axel Weber said that debt-strained Euro zone countries must make the most of the breathing space bought by aid measures and warned them the hardest part of the reform process was still ahead.