Economy

• Friday, May 24th 2013 - 07:10 UTC

  As the US before IMF lines up behind Argentina in the litigation with hedge funds

  

  For the first time since the litigation of hedge funds against Argentina the International Monetary Fund warned about the ‘risks’ which would entail ratifying Judge Thomas Griesa ruling condemning Argentina to pay over a billion dollars plus interests to the so called ‘vulture funds’.

• Friday, May 24th 2013 - 07:05 UTC

  Argentina raids factory of US investor head of a hedge fund litigating defaulted sovereign bonds

  

  Argentine authorities investigating alleged tax and currency exchange fraud searched this week the factory of a U.S. investor who is among litigants seeking hundreds of millions over Argentina's 2001 default.

• Friday, May 24th 2013 - 06:51 UTC

  Argentina’s trade surplus shrank 38% in April as imports soar 32%

  

  Argentina's trade surplus shrank 38% in April from a year earlier to 1.15bn, revealed the national statistics institute Indec, indicating the government has significantly loosened restrictions on imports. A year ago the surplus was 1.85bn dollars.

• Thursday, May 23rd 2013 - 19:45 UTC

  Energy - Balancing the Bonanza: Interview with Mark Thoma

  

  Interview by James Stafford of Oilprice.com - If you want an objective view of energy, ask an economist, who can tell you what to expect to pay at the pump in the coming years, and why, as well as what to expect from medium- and long-term economic growth and what the real drivers will be. These are questions that are crucial to a pending decision by the US government over natural gas exports, and while we know where big oil stands versus its manufacturing rivals—it's the economist who can set things straight.

• Thursday, May 23rd 2013 - 19:40 UTC

  Global economy to pick up in second half forecasts UN agency

  

  Global economic growth is projected to gain slow momentum for the rest of the year while developing countries will expand an estimated 5%, a United Nations economic forecast said on Thursday.

• Thursday, May 23rd 2013 - 19:23 UTC

  Brazil freezes budget outlays in an effort to meet its primary surplus target

  

  Brazil has frozen 28 billion Reais (approx 13.7 billion dollars) in its 2013 budget as it tries to meet its primary surplus target, Finance Minister Guido Mantega said on Thursday in Brasilia. President Dilma Rousseff’s administration is trying to meet targeted primary surplus goal of 155.9 billion Reais without undermining economic growth.

• Thursday, May 23rd 2013 - 07:20 UTC

  Beware inflation: CFK announces “political groups” will keep track of prices in shops

  

  Argentine President Cristina Fernández (CFK) indirectly acknowledged that inflation has become a major challenge for her government despite the fact that the official reading in twelve months is 10.6%, even when private estimates indicate 24% and expectations have soared to 34%.

• Thursday, May 23rd 2013 - 07:16 UTC

  Europe’s three largest economies call for stricter rules on corporate tax avoidance

  

  Britain, France and Germany called for stricter rules to stop companies such as Google, Apple and Amazon aggressively avoiding taxes in austerity bitten Europe, while acknowledging they had done nothing unlawful.

• Thursday, May 23rd 2013 - 07:01 UTC

  Cristina Fernandez administration limits overseas dollar extractions to a minimum

  

  Continuing with the so called ‘dollar clamp’ Argentine institutions issuing credit cards will further limit the extraction of dollars from automatic cashiers: travellers to neighbouring countries will only be allowed 100 dollars every three months and those visiting non neighbouring countries, 800 dollars per month.

• Thursday, May 23rd 2013 - 02:13 UTC

  Rest cool, toilet paper is on the way for the beleaguered Venezuelan consumers

  

  Venezuela's National Assembly approved a 79 million dollars credit for the import of toilet paper, toothpaste and soap. The measure comes after Venezuela hit the news with its dire toilet paper shortage.