Economy

• Sunday, November 3rd 2013 - 00:16 UTC

  Latam needs to invest 2 trillion dollars in infrastructure in next 20 years

  

  Latin America will need 2 trillion dollars investment in the energy sector during the coming twenty years to sustain its development growth, according to a conference on “Energy: a vision of the challenges and opportunities in Latin-American and the Caribbean” sponsored by Latam Development Bank, CAF.

• Sunday, November 3rd 2013 - 00:03 UTC

  Brazil's golden boy files for bankruptcy; an example of overblown expectations?

  

  Just a few year ago, flashy Brazilian billionaire Eike Batista was bragging that he would soon overpass Carlos Slim as the world's richest man. He even liked to show visitors his Mercedes-Benz McLaren parked right in the living room of his mansion. But his fall has been deep and fast.

• Saturday, November 2nd 2013 - 15:55 UTC

  Unemployment in Euro-zone remained at record high 12.2% in September

  

  The unemployment rate in the 17-nation Euro-zone remained at a record high of 12.2% in September as the bloc’s recent recovery failed to generate new jobs, official data shows. The number rose by 60,000 to 19.45 million, while the jobless rate for those aged under 25 edged up to 24.1% from 24% in August, according to Eurostat, the European Union’s statistics agency.

• Saturday, November 2nd 2013 - 15:41 UTC

  “From the ”Labyrinth of Solitude“ to a ”Network of Partnerships”, the new story of Mexico

  

  By R. Viswanathan (*) Octavio Paz, the celebrated Mexican writer who was Ambassador to India in the sixties, wrote in his book “The Labyrinth of Solitude“ that the ”Mexican is always remote from the world and other people”. This was his conclusion after an in-depth analysis of the character and identity of the Mexicans who have inherited a mix of Aztec and Mayan Indian traditions and European culture and have been influenced overwhelmingly by the culture of US.

• Friday, November 1st 2013 - 21:36 UTC

  Dollar-short Venezuela creates new exchange rate system for arriving tourists

  

  Venezuela will create a new exchange rate for tourists to buy up to US$10,000 of the local Bolivar currency per year in a measure intended to help reduce black market trading, the government said in its official gazette.

• Friday, November 1st 2013 - 18:05 UTC

  London Luxury Quarter red carpet to court the rich and famous from China

  

  Luxury retailers in London are hoping to cash in on the growing ranks of high-net worth Chinese travelers in the wake of relaxed visa application rules for tourists and business people from the mainland, which were announced in October by the British government.

• Friday, November 1st 2013 - 08:48 UTC

  Experts dismiss forecasts of soaring wine prices: worldwide production on the rise

  

  In a much-publicized report released Wednesday, US bank Morgan Stanley said that a worldwide fall in production and growing thirst for wine among Chinese and Americans would send prices rocketing. However industry experts say worldwide production actually rose this year.

• Friday, November 1st 2013 - 05:49 UTC

  Falklands' electoral debate suggests alternative air-link and better facilities for tourism

  

  An alternative north-south air-link and better facilities for tourism development surfaced at the Falkland Islands candidates debate ahead of 7 November General Election during the FIRS/Penguin News press conference earlier this week.

• Friday, November 1st 2013 - 05:40 UTC

  IMF warns about global slowdown and appeals to Latam governments' prudence

  

  The Director of the International Monetary Fund’s (IMF) Western Hemisphere Division, Alejandro Werner, says Latin American and Caribbean economies are well placed to once again sustain relatively high growth rates.

• Thursday, October 31st 2013 - 06:35 UTC

  IDB approves 300 million dollars loan for north Argentina road network

  

  The Inter-American Development Bank (IDB) has approved a 300 million dollars loan to finance a multiple-work road program aimed at improving the conditions of accessibility, efficiency, and safety of priority roads of Argentina’s Norte Grande Region’s provincial road network and at contributing to the area’s sustainable economic development.