Economy

• Friday, November 12th 2010 - 18:10 UTC

  Canadian bank interested in setting foot in Uruguay

  

  Nova Scotia bank is close to buying Advent International Corp.’s 54% stake in Uruguay’s Nuevo Banco Comercial, Business News Americas reported on its website.

• Friday, November 12th 2010 - 18:01 UTC

  Europe ratifies support for Ireland’s budget policy and sovereign debt

  

  Irish Finance minister Brian Lenihan has welcomed a statement of support over Ireland's debts from Germany, Britain, France, Italy and Spain. The five countries attending the G20 summit in South Korea said that bondholders would not be forced to share the pain of the current debt crisis.

• Friday, November 12th 2010 - 17:29 UTC

  G20 agrees on “indicative guidelines” for imbalances and hopes for the best

  

  Leaders of the Group of 20 (G20) member nations meeting in Korea reached a vague compromise Friday on currency and trade issues, calling for a workable resolution for the next G20 summit in France, slated for November next year.

• Friday, November 12th 2010 - 15:43 UTC

  Inflation or no inflation: that is the question for the Argentine government

  

  Fissures inside the Argentine cabinet are surfacing and refer to one of the most irritating issues for the administration of President Cristina Fernandez de Kirchner: inflation or no inflation.

• Friday, November 12th 2010 - 13:52 UTC

  As Argentine farming recovers machinery sales soar

  

  Sales of farm machinery in Argentina soared 73% totalling 7.074 units, in the third quarter compared to the same period a year ago and 33.6% over the previous quarter according to the latest release from the Statistics and Census Office, Indec.

• Friday, November 12th 2010 - 13:44 UTC

  Peruvian economy steaming ahead at 8%; top of the list in the region for business

  

  Finance Minister Ismael Benavides said Peru's economy should grow between 8% and 8.5% this year, with inflation ending the year from 2.2% to 2.5%. The Peruvian Central Bank latest forecast was annual growth of 7.5% to 8%.

• Friday, November 12th 2010 - 05:10 UTC

  G-20 drafts a “standstill” compromise declaration to avoid protectionism

  

  Leaders of the Group of 20 (G20) member nations meeting in Korea are expected to reach a compromise Friday on trade and currency issues that have so far marred the spirit of the global gathering, in a bid to make headway in the G20 process and keep the two-year-old global policy forum afloat.

• Friday, November 12th 2010 - 00:50 UTC

  Deepest austerity measures in decades stall Spanish economy recovery

  

  Spain’s economy stalled in the third quarter as the deepest austerity measures in three decades, aimed at taming the Euro region’s third-biggest budget deficit, undermined the recovery from an almost two-year recession.

• Friday, November 12th 2010 - 00:34 UTC

  China’s inflation peaks 4.4% in October pushed by food prices and tight supplies

  

  China's consumer price index (CPI), a major gauge of inflation, reached its 2010 peak in October but the tendency is likely to slow down over the rest of the year, a report from the Bank of Communications forecast on Thursday.

• Thursday, November 11th 2010 - 22:04 UTC

  Latin American leaders at G-20 call for responsibility from rich countries

  

  Leaders from Brazil, Mexico and Argentina in the framework of the G-20 summit in Korea called on rich countries for a commitment to end the “currencies war” and ensure balanced growth out of the current crisis.