Economy

• Saturday, September 7th 2013 - 02:13 UTC

  Final presentation from three PMs to decide what city will host 2020 Olympics

  

  From the Fukushima nuclear leak to the war in Syria to Europe's economic crisis, the choice of the host city for the 2020 Olympics is fraught with risks. Picking the site with the least risks shapes up as the challenge for the International Olympic Committee on Saturday in a tight three-city contest that members say is too close to call.

• Friday, September 6th 2013 - 02:06 UTC

  Pacific Alliance again shows its trade growth muscle in 2012

  

  The Alliance of the Pacific, Chile, Peru, Colombia and Mexico, has again given evidence of its potential in Latinamerica: total exports in 2012 reached 556 billion dollars and imports 551 billion, which means the four countries consolidated concentrate 50% of the continent’s foreign trade.

• Friday, September 6th 2013 - 02:00 UTC

  Mujica confirms: no intention of irritating Argentina on pulp mills’ controversy

  

  Uruguay’ President Jose Mujica said the decision authorizing a possible expansion, or not, of the UPM/Botnia pulp mill is closely linked to Argentina and the construction of a third plant along an inside Uruguayan river and not a shared one as is the case now.

• Friday, September 6th 2013 - 01:52 UTC

  Repsol expands gas production in Bolivia to supply growing Argentine demand

  

  Spain’s Repsol inaugurated on Thursday, a month before schedule, a new module of its gas processing plant in Margarita in the south of Bolivia which will allow the company in three weeks, to significantly increase its production and delivery to Argentina, its main client.

• Friday, September 6th 2013 - 01:42 UTC

  Debt-struck Madrid believes its modest budget will end hosting the 2020 Olympics

  

  Debt-struck Madrid is betting its penny-pinching bid to host the Olympics in 2020 will reap rich economic dividends for recession-hit Spain. The Spanish capital is banking on a low-cost 5 billion dollars Olympic bid that relies heavily on existing stadiums to surprise Tokyo and Istanbul when Olympic chiefs make their decision in Buenos Aires on Saturday.

• Friday, September 6th 2013 - 01:17 UTC

  Cristina Fernandez meets WTO chief and blasts world powers ‘protectionism’

  

  With a busy agenda prior to her G20 Summit address, Argentine President Cristina Fernández renewed her criticism of so called world powers’ “protectionism” and warned about a “crisis of the multilateral system” both in the economic and political arenas.

• Friday, September 6th 2013 - 00:57 UTC

  FAO food price index drops for fourth month running; abundant cereal crops

  

  FAO Food Price Index dropped for the fourth month in a row in August reaching its lowest level since June 2012. The index, which measures the monthly change in the international prices of a basket of food commodities, averaged 201.8 points in August 2013, nearly 4 points (1.9%) below its July value and 11 points (5.1% less than in August 2012.

• Friday, September 6th 2013 - 00:43 UTC

  Bank of England leaves key rate and bond-buying program unchanged

  

  Bank of England officials left their bond-buying program unchanged on Thursday as they assessed the impact of Governor Mark Carney’s forward guidance policy to keep interest rates low amid a strengthening economic recovery.

• 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.