Economy

Monday, December 9th 2013 - 16:57 UTC
Election confirms Venezuelan remains split and with no reconciliation on sight

Venezuelan President Nicolas Maduro declared victory in municipal elections as his ruling Socialists won a majority of votes nationwide on Sunday, even though they lost to the opposition in five key cities. He also pledged to deepen his “economic offensive” to force businesses to cut prices, which was a turning point in his campaign.
Monday, December 9th 2013 - 14:28 UTC
Gibraltar in a list of potential “risks or threats” to Spain's maritime security strategy

The Spanish Government has included Gibraltar in a list of potential ‘risks or threats’ to its national maritime security. The claim is contained in a single paragraph of a new 48-page national maritime security strategy policy approved by the Spain’s National Security Council last Thursday.
Monday, December 9th 2013 - 14:09 UTC
Chilean presidential debate first round favors under-dog Matthei

Evelyn Matthei of the right-wing Independent Democratic Union (UDI) and Michelle Bachelet of the left-leaning Socialist Party (PS) partook in their opening head-to-head presidential debate, as for the first campaign in Latin American history two women compete against each other in a presidential election second round.
Saturday, December 7th 2013 - 06:51 UTC
Following marathon negotiations WTO reaches global deal to boost commerce

The World Trade Organization has agreed its first ever global deal aimed at boosting commerce. The agreement reached in Bali, Indonesia, simplifies trade procedures and also makes it easier for the poorest countries to sell their goods.
Saturday, December 7th 2013 - 06:43 UTC
US November data on jobs triggers optimism in world markets and strengthens the dollar

Global equity markets surged and the dollar rose against the Yen after stronger-than-expected US jobs data gave investors confidence the economy is strong enough to withstand an expected reduction in Federal Reserve stimulus.
Saturday, December 7th 2013 - 06:34 UTC
Brazil says Argentina will again open the doors to bilateral trade next week

Argentina will from next week open the doors for Brazilian imports held up on the border between the two nations, including footwear and motor vehicles, according to Brazilian Minister of Development, Industry and Foreign Trade Fernando Pimentel.
Saturday, December 7th 2013 - 06:08 UTC
US government intervenes in favor of Argentina in defaulted-bonds ongoing case

The US government has asked the US Supreme Court to intervene over a hedge fund's effort to gain information about Argentina's non-US assets as part of an ongoing litigation, which is rapidly becoming a lead case regarding sovereign assets and sovereign debts rescheduling.
Saturday, December 7th 2013 - 06:03 UTC
Brazil inflation slows down in November to an annualized 5.77%

Brazil's annual inflation cooled in November falling to 5.77%, reported the Institute of Geography and Statistics, IBGE, on Friday. The November reading was the lowest since registering 5.84% in December 2012.
Friday, December 6th 2013 - 23:31 UTC
Despite strong signs of recovery, Bank of England leaves interest rates unchanged

The Bank of England held interest rates at a record low once more this week in spite of mounting optimism over the UK recovery. A flurry of encouraging signs on the UK economy has fuelled expectations for growth to pick up to around 1% this quarter.
Friday, December 6th 2013 - 23:16 UTC
Europe demanding a decision from Mercosur on advancing the trade talks

The European Commission president Jose Manuel Barroso called on Mercosur to decide whether it wishes to advance in trade talks with the European Union jointly, as a block, and suggested the idea of a 'two-speed negotiation', since it is clear that Brazil is interested in advancing and wants to reach an agreement.