Economy

• Wednesday, September 11th 2013 - 22:06 UTC

  Venezuela inflation running at annualized 45.4%; government “admits economic success debt”

  

  Venezuela's annual inflation rate hit 45.4% in August, the central bank revealed this week, the highest in five years and the highest in the region, even as consumer price increases slowed from the previous month.

• Wednesday, September 11th 2013 - 22:02 UTC

  ”If Brazil devalues, Uruguay will follow”, President Mujica tells farmers

  

  President Jose Mujica said that Uruguay is ‘aligned’ with Brazil in economic policy, and if the government of President Dilma Rousseff decides to devalue its currency, “Uruguay will follow” and as Brazil, “Uruguay is not satisfied with the functioning of Mercosur”.

• Wednesday, September 11th 2013 - 00:57 UTC

  Good news from China: manufacturing, retail sales and investment up in August

  

  China's industrial production increased by more than expected in August the latest sign that the world's second-largest economy may be on the mend. According to data released on Tuesday factory output climbed 10.4% from a year earlier. Retail sales and fixed asset investment also rose during the month.

• Tuesday, September 10th 2013 - 22:59 UTC

  Bank of England planning polymer notes; five pound featuring Churchill expected in 2016

  

  The Bank of England is moving closer to ditching paper pounds and switching to plastic banknotes instead. It would follow in the footsteps of Australia, Canada and others. The central bank said it would ask the public its opinion before taking a decision in December on whether to adopt polymer pounds which also would be smaller than current notes.

• Tuesday, September 10th 2013 - 01:11 UTC

  Brazil’s 124 billionaires own 12.3% of GDP and half the population lives on 130 dollars per month

  

  The 124 richest people in Brazil hold assets totalling 544 billion Reais equivalent to 238.6bn dollars or 12.3% of the country’s GDP, which is considered one of the most unequal in the world. The 124 are included in Forbes magazine latest publication that brings together all those Brazilians with fortunes over a billion Reais (approx 438 million dollars).

• Tuesday, September 10th 2013 - 00:52 UTC

  Global trade growth estimates down to 2.5% this year and 4.5% in 2014, says Azevedo

  

  World trade is expected to grow by 2.5% this year and 4.5% in 2014, the World Trade Organisation's new chief, Roberto Azevedo, said on Monday, revising down previous estimates of 3.3% and 5%.

• Tuesday, September 10th 2013 - 00:42 UTC

  BRICS agree on a 100bn ‘financial firewall’ in anticipation of ‘currency shocks’

  

  BRICS nations (Brazil, Russia, India, China and South Africa) have agreed to a 100 billion dollars currency reserve pool as a “financial firewall” in anticipation of liquidity strains and ‘currency shocks’ as the United States Federal Reserve moves to reduce monetary stimulus.

• Monday, September 9th 2013 - 02:36 UTC

  Argentina, Uruguay and Venezuela fall dramatically in WEF Competitiveness ranking

  

  The World Economic Forum Competitiveness report published last week shows Latinamerica is loosing ground in the world economy and the three countries which most plunged in the ranking in the last twelve months were: Venezuela, Argentina and Uruguay.

• Monday, September 9th 2013 - 02:29 UTC

  Cristina Fernandez now refers to the IMF chief as “Madame (Christine) Lagarde”

  

  IMF Managing Director ‘Madame (Christine) Lagarde’ had words of support for Argentina’s position in the dispute with ‘vulture’ (hedge) funds during an informal encounter with Argentine officials on the sidelines of the recent G20 summit in Russia.

• Monday, September 9th 2013 - 02:04 UTC

  Falklands (1901) 5 shillings and (1899) £1 bills on sale at London’s Spink’s

  

  Two Falkland Islands bills will go on sale at Spink’s London World Bank Notes next October 2-4, which are considered to be of great interest for British Empire and/or low serial number enthusiasts.