Economy

• Friday, December 27th 2013 - 00:59 UTC

  China pumps 5bn dollars to help banking system with rising interest rates

  

  China's central bank has pumped 5bn dollars into the banking system to ease concerns over a credit squeeze that has caused rising interest rates. The People's Bank of China did not explain its actions, but over the last few days there has been growing concern over the availability of credit.

• Friday, December 27th 2013 - 00:05 UTC

  Over 10m Argentines live in poverty conditions, says Catholic University

  

  Over a quarter of the Argentine population live in poverty conditions, with no formal job, poor quality education, dreadful housing and insufficient healthcare, according to the latest paper from the Buenos Aires Catholic University Social Debt Observatory.

• Thursday, December 26th 2013 - 23:54 UTC

  Argentina’s socioeconomic statistics: still lying after all these years, says The Economist

  

  For years the IMF turned a blind eye as Argentina doctored its inflation index and plumped up its numbers for economic growth. Then last February the fund steeled itself and censured the country, warning it to improve its statistics by September or face potential suspension or expulsion. This threat was unprecedented in the fund’s history.

• Thursday, December 26th 2013 - 08:31 UTC

  Falklands government contracts local company for provision of IT services

  

  The Falkland Islands Government and local company Synergy Information Systems Ltd have agreed a contract for the provision of IT services to Government. The contract, signed last week following formal approval by Executive Council, involves the management of the Government’s IT network infrastructure and user support and results in the transfer of more than 80% of Government IT work to the local private sector.

• Thursday, December 26th 2013 - 07:43 UTC

  Trickle-down economics in one of South America’s poorest countries, Paraguay

  

  The Economist has dedicated an article to the recently inaugurated Paraguayan president Horacio Cartes, and his attempts to improve the living conditions of the majority of a population which is poor in a country rich in agriculture and energy.

• Thursday, December 26th 2013 - 07:31 UTC

  Gazprom confirms in has started production at Prirazlomnoye field on the Arctic shelf

  

  Gazprom has started producing oil from the Prirazlomnoye field, which is the first Russian project for developing the Arctic shelf and the commencement of their large-scale activities aimed at creating a large hydrocarbon production center in the region, according to the company.

• Thursday, December 26th 2013 - 06:00 UTC

  UK sponsored 'innovation vouchers' for Chilean small and medium sized enterprises

  

  Fifteen “innovation vouchers” were awarded to Chilean (Small and medium enterprises), SMEs who will now begin working with project teams from the Universidad Católica, Universidad de Desarrollo and Universidad de Santiago to improve their company’s products and services.

• Thursday, December 26th 2013 - 05:52 UTC

  US economy picking up strength according to third quarter data

  

  The United States economy grew at a surprisingly robust 4.1% annual pace in the third quarter according to the Commerce Department, which was the strongest advance in nearly two years and only the third time the economy had expanded that quickly from one quarter to the next since 2006.

• Saturday, December 21st 2013 - 21:22 UTC

  Uruguay Economy minister resigns over scandal involving flag air carrier Pluna

  

  Uruguay's economy minister Fernando Lorenzo resigned on Saturday in the face of questions over the alleged irregular sale of government-owned airplanes following the closure of Pluna, the country's flag carrier, President Jose Mujica announced at a brief press conference, with no questions taken, next to Vice president Danilo Astori.

• Saturday, December 21st 2013 - 06:50 UTC

  IDB loan for Sao Paulo State to improve freight and passenger transport

  

  The Brazilian state of Sao Paulo will receive a loan for 480 million dollars from the Inter-American Development Bank (IDB) to improve freight and passenger transport in the state highway system in order to enhance competitiveness and regional and international integration by reducing transport costs and travel time.