Economy

• Friday, September 6th 2013 - 00:39 UTC

  ECB ready to cut rates or pump more money to help sustain Euro-zone recovery

  

  The European Central Bank said it was ready to cut interest rates or pump more money into the Euro zone economy if necessary to bring money market rates down and help the Euro zone's economic recovery. ECB chief Mario Draghi said the policymaking Governing Council did discuss a possible rate cut at its monthly meeting, partly due to concern about money market rates and the uncertain “very green” nature of the recovery.

• Friday, September 6th 2013 - 00:06 UTC

  Iran trade with Latinamerica remained stable at 4bn dollars in 2012, says Latinvex

  

  Iran's trade with Argentina grew last year while trade with Brazil declined, according to an analysis by online business publication Latinvex based on data from the IMF. Iran's total trade with Latin America grew by 0.9% to 4 billion dollars in 2012. Brazil and Argentina still dominate Iran's trade with Latin America, accounting for 93% of the region's total trade with the Persian country.

• Thursday, September 5th 2013 - 03:53 UTC

  Argentine politicians warn Uruguay on possible expansion of pulp mill production capacity

  

  The bilateral conflict between Argentina and Uruguay over the UPM/Botnia pulp mill, on the Uruguayan side of the Uruguay River is once again leading to tension between the two neighbours amid reports that the plant’s Finnish owners plan to increase production from 1.1 to 1.3 million tons of cellulose paste per year.

• Thursday, September 5th 2013 - 03:50 UTC

  US economy grows at 2.5% in second quarter; August sales car in six-year high

  

  The US economy grew at an annualised pace of 2.5% in the second quarter of the year, the Commerce Department said in revised figures. That was more than double the pace recorded in the previous three months, and above estimates of 2.2%.

• Thursday, September 5th 2013 - 03:35 UTC

  Falklands’ lawmaker has full round of political and business contacts in Uruguay

  

  “We have come for people-to-people contacts, to talk about business opportunities and for the resumption of the close and historic links between the Falkland Islands and Uruguay”, repeated Falklands’ lawmaker Dick Sawle during one of his many presentations in Montevideo.

• Thursday, September 5th 2013 - 02:25 UTC

  Brazil’s protests will affect IOC future decisions; Madrid favourite for 2020

  

  International Olympic Committee President Jacques Rogge said his organization and future games hosts must overcome the challenge of convincing the wider public about the benefits of staging sports’ biggest event.

• Thursday, September 5th 2013 - 02:20 UTC

  Latam/China trade highly vulnerable: raw materials for manufactured goods

  

  Over the past decade China has become a key partner for Latin America and the Caribbean with bilateral trade increasing 22 fold between 2000 and 2012, albeit with a strong deficit for Latin American countries, according to Alicia Bárcena, Executive Secretary of the UN Economic Commission for Latin America and the Caribbean.

• Thursday, September 5th 2013 - 02:13 UTC

  S&P claims lawsuit is US government ‘retaliation’ for downgrading credit rating

  

  Ratings agency Standard and Poor's (S&P) has claimed the lawsuit filed against it by the US Justice Department was “retaliation” against its decision to downgrade the US's credit rating.

• Thursday, September 5th 2013 - 02:06 UTC

  Nobel Prize Stiglitz comes out strongly in support of Argentina in bonds litigation

  

  “A recent decision by a United States appeals court threatens to upend global sovereign-debt markets. It may even lead to the US no longer being viewed as a good place to issue sovereign debt. At the very least, it renders non-viable all debt restructurings under the standard debt contracts.

• Thursday, September 5th 2013 - 01:59 UTC

  Advanced economies taking the global relay from emerging countries, says IMF

  

  Advanced economies led by the United States will increasingly drive global growth while emerging countries are at risk of slowing due to tighter US monetary policy, the IMF said in a note according to Reuters news agency.