Economy

• Wednesday, March 26th 2014 - 07:44 UTC

  Brazil hits back at S&P; says economy is well positioned to new challenges in the global scenario

  

  Brazil's central bank on Tuesday said it will continue to respond to challenges in the international scenario after Standard & Poor's decision to downgrade the country's credit ratings. This includes a rigorous set of macroeconomic policies, a flexible exchange rate regime and the use of liquidity buffers “to smooth out moves in asset prices” the bank said in a statement.

• Wednesday, March 26th 2014 - 05:54 UTC

  NML Capital targets Argentina's contract for satellite launches with private US company

  

  An Argentine bondholder seeking to collect on hundreds of millions of dollars in judgments stemming from the country's historic 2002 default filed a lawsuit on Tuesday aiming to take control of the country's rights under a contract for satellite launches with a private US firm.

• Wednesday, March 26th 2014 - 05:33 UTC

  Country and organizations support for Argentina's litigation with hedge funds increases

  

  Argentina underlined the support from Brazil, France, Mexico, (even the IMF), among other institutions in the country's long exhausting litigation with hedge funds, an issue which is “crucial for Argentina and the whole international financial system”.

• Tuesday, March 25th 2014 - 23:09 UTC

  China's manufacturing sector contracted in March, according to private survey

  

  China's manufacturing sector showed further contraction in March, according to a new report which mainly tracks activity in smaller factories. The HSBC Purchasing Managers' Index (PMI) gave a reading of 48.1 for March, compared to 48.5 in February.

• Tuesday, March 25th 2014 - 08:51 UTC

  S&P downgrades Brazil’s sovereign debt rating to BBB minus

  

  Standard & Poor's cut Brazil's sovereign debt rating closer to speculative territory in a blow to President Dilma Rousseff administration. Brazil had its long-term debt rating downgraded to BBB minus, the agency's lowest investment-grade rating. S&P changed its outlook to stable from negative, meaning further downgrades are unlikely for now, which will come as a relief for both politicians in Brasilia and financial markets.The move was widely expected but the timing surprised some investors.

• Monday, March 24th 2014 - 06:55 UTC

  Brazil, France and Mexico to file papers before the US Supreme Court in support of Argentina

  

  Brazil, France and Mexico are expected to file papers in the US Supreme Court on Monday backing Argentina in its legal battle with bondholders who refused to take part in debt restructurings from the country's 2002 default, according to a source familiar with the litigation.

• Saturday, March 22nd 2014 - 08:01 UTC

  The Falklands/Malvinas: Brazil’s next regional headache?

  

  By Oliver Stuenkel (*) - Brazil, foreign policy observers often point out, is blessed. Contrary to many other emerging powers such as China or India, it is located in a region that rarely experiences interstate tension or war. Not only can Brazil live on a relatively small defense budget, while India is the world's largest arms importer. Brazil can also dedicate considerable time and energy towards extending its global diplomatic reach without constantly being forced to deal with trouble in its neighborhood.

• Saturday, March 22nd 2014 - 07:31 UTC

  Mercosur and EU in another effort to advance in the long delayed trade agreement

  

  Mercosur and European Union chief negotiators met on Friday in Brussels to define if conditions are ready for the exchange of tariffs reductions proposals with the purpose of reaching an ambitious trade agreement which was started back in 1999 and has yet to mature.

• Friday, March 21st 2014 - 05:56 UTC

  Argentina's grain shipping blocked by vessel grounded in the Paraná

  

  Argentina's river Paraná is blocked since early March when a Cypriot flagged vessel broke down with a 45.000 tons cargo of soybeans, thus holding back access of another eighty vessels waiting to load in Rosario and other ports in the heartland of the grains and oilseeds country.

• Thursday, March 20th 2014 - 03:26 UTC

  US Fed hints interest rates could start to rise in early 2015 as jobs picture improves

  

  The US Federal Reserve Chair Janet Yellen hinted on Wednesday that interest rates in the US could start to rise in early 2015, that is six months after it halts its monthly bond-buying program. Ms Yellen made the remarks after the Fed said it will scale back bond purchases by a further 10bn dollars per month.