Economy

• 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.

• Thursday, September 5th 2013 - 01:48 UTC

  Chilean economy slowing but still vigorous with growth ranging of 4% to 4.5%

  

  Chile's central bank cut its forecast range for 2013 GDP growth but maintained inflation and domestic demand predictions as the effects of a slowdown hitting copper demand are moderated by consumer spending.

• Thursday, September 5th 2013 - 01:30 UTC

  Microsoft buys Nokia mobile phone business to focus on “devices and services”

  

  Microsoft has agreed a deal to buy Nokia's mobile phone business for 5.4bn Euros. Nokia will also license its patents and mapping services to Microsoft. Nokia shares jumped 35% on the news, whereas Microsoft's fell more than 5%. The purchase is set to be completed in early 2014, when about 32.000 Nokia employees will transfer to Microsoft.

• Wednesday, September 4th 2013 - 01:31 UTC

  Brazilean production in all four industry categories down in July

  

  Brazilian industrial output was down 2% in July from June this year. The information was released this Tuesday in the Monthly Industrial Survey by the Brazilian Institute of Geography and Statistics IBGE.

• Wednesday, September 4th 2013 - 01:26 UTC

  Brazil's inflation tendency again picks up as food and transport prices rebound

  

  Brazil’s twelve-month inflation ended August at its lowest level this year, according to a central bank survey of fourteen economists. This means the 12-month IPCA consumer-price index is likely to weigh in at 6.10% for August, down from 6.27% at the end of July.

• Wednesday, September 4th 2013 - 00:36 UTC

  Food, education and healthcare rising prices keep Uruguay’s inflation out of target

  

  Uruguay’s inflation in August kept climbing and reached 1.04%, totalling 6.74% in the first eight months of the year and 8.86% in the last twelve months, which is well above the Central bank target of 4% to 6%, according to the latest report from the local Statistics Office, INE.

• Tuesday, September 3rd 2013 - 23:45 UTC

  Leading industrialist tells Cristina Fernandez to abide by the rules of democracy, otherwise it is ‘Chavism’

  

  Deputy Chairman of the Argentine Industrial Union (UIA) Cristiano Ratazzi said that President Cristina Fernández “should leave office once her term ends” because those are the rules of democracy, otherwise it is ‘Chavism’.

• Monday, September 2nd 2013 - 20:02 UTC

  Uruguay no longer a magnet for Argentine funds looking for real estate investments

  

  Uruguay has ceased to be the magnet for Argentine funds looking for safe places to save and real estate investments since the Argentine revenue service AFIP, following on the neighbouring countries tax-data exchange agreement, could have access to that information, according to Uruguayan private financial and investment advisors.

• Monday, September 2nd 2013 - 19:49 UTC

  Argentine officials admit inflation is higher than the official release from Indec

  

  President Cristina Fernandez Victory Front’s parliamentary candidate for next October mid-term election, Martín Insaurralde admitted on Monday that inflation rate is higher than the one released by INDEC statistics agency although the agency is “transparent” and “must readjust to times and realities.”