Economy

• Saturday, June 1st 2013 - 03:10 UTC

  Germany fearing a ‘lost generation’, more conciliatory with youth unemployment

  

  Chancellor Angela Merkel, stung by criticism she is cracking the whip of fiscal discipline in Europe, has shown a more caring approach by pledging to fight record youth unemployment on the crisis-hit continent.

• Saturday, June 1st 2013 - 03:04 UTC

  Europe unable to counter increasing youth unemployment

  

  Unemployment among the under 25s rose in April to 23.5% within the EU and 24.4% across the Euro area. The rates released by EU statistics office Eurostat show an increase on the same month last year, when youth unemployment reached 22.6% across both zones.

• Saturday, June 1st 2013 - 02:51 UTC

  Chinese company targets US biggest pork firm in a 7.1bn dollar deal

  

  The biggest pork firms in China and the US plan to join forces in a 4.7bn dollar deal that aims to feed the world's most populous country. China's Shuanghui International has agreed to pay cash for the Virginia-based Smithfield Foods, which including debt, values the firm at 7.1bn.

• Saturday, June 1st 2013 - 02:39 UTC

  OAS warns about ‘distinct categories of citizens’ in terms of access and quality to basic services

  

  The Organization of American States (OAS), Secretary General José Miguel Insulza, highlighted the “important progress” made in the region’s democratization in recent decades, but also warned about worrying “risks of deconstruction” which are creating ‘distinct categories of citizens’ particularly in terms of access and quality to basic services such as education, health and security.

• Friday, May 31st 2013 - 17:23 UTC

  Falklands’ government praised for five year plan to develop oil and gas industry

  

  The Specialist Oil & Gas Advisor for the Falkland Islands Government (FIG), Anne Drinkwater has stated that the Falkland Islands are an attractive location for the oil and gas industry and has praised FIG five year plan which sets the desired economic and social context for development generally.

• Friday, May 31st 2013 - 07:34 UTC

  Vice-president Biden praises and challenges Brazil; meets Rousseff on Friday

  

  U.S. Vice President Joe Biden encouraged Brazil to open its economy further to keep up with free trade trends worldwide during a visit aimed at boosting business between the two largest economies in the Americas.

• Friday, May 31st 2013 - 07:19 UTC

  Despite great agriculture performance Brazil’s economy first quarter result disappoints

  

  Brazil's economy grew 0.6% in the first quarter of 2013, compared with the final quarter of last year, the government said this week. The figure could confirm official projections that the economy would recover following the slowdown experienced over the past two years.

• Friday, May 31st 2013 - 07:15 UTC

  Fearing high inflation Brazil raises basic rate 50 basic points to 8%

  

  Brazil's central bank raised its benchmark interest rate on Wednesday to 8% from 7.5%, as part of an effort to battle high inflation in an economy that keeps struggling with slow growth.

• Tuesday, May 28th 2013 - 22:05 UTC

  Uruguay’s Mujica: Integration with Asia is our “Strategy for the Future”

  

  On Tuesday Uruguayan President Jose Mujica said that the policy of integrating the economies of Asia and his country is a necessary “strategy for the future.”

• Tuesday, May 28th 2013 - 21:52 UTC

  EU imposes duties on Argentine biodiesel

  

  The European Union is imposing punitive duties on imports of biodiesel from Argentina and Indonesia, charging them with selling the product into the bloc at unfairly low prices, setting provisional tariffs ranging from 6.8 to 10.6 % for imports from Argentina and between zero and 9.6 % for those from Indonesia.