Economy

• Friday, May 3rd 2013 - 02:24 UTC

  EU “nightmare of unemployment” debate reaches ECB, which cuts rates to record low 0.5%

  

  The European Central Bank cut interest rates to a new record low on Thursday amid a chorus of calls for the Euro zone to focus on growth to end a “nightmare of unemployment” in the bloc. It was the first cut in ten months.

• Thursday, May 2nd 2013 - 08:03 UTC

  Where is Uruguay’s economy headed?

  

  Fitch Ratings in March joined two other major ratings agencies in giving Uruguay its coveted investment grade, a move that lowers the nation’s borrowing costs and opens up opportunities for new investors.

• Thursday, May 2nd 2013 - 07:56 UTC

  British tax havens will have to open their banking systems to UK and EU scrutiny

  

  Tax havens such as Bermuda and the Cayman Islands will work more closely with Britain and other European countries to fight tax evasion, British finance minister George Osborne said.

• Thursday, May 2nd 2013 - 07:37 UTC

  Falkland Islands’ economy ‘strangling’ and intimidation by Argentina reported in British media

  

  Argentina’s ongoing attempts to strangle the Falkland Islands economy by intimidating cruise vessels from calling at Stanley and other islands has been picked up by the Daily Mail in an article written by Ian Drury.

• Thursday, May 2nd 2013 - 07:29 UTC

  Brazil’s primary surplus well below target because of ‘government efforts to prop the economy’

  

  Brazil posted a budget primary surplus of 3.5 billion Reais (1.75bn dollars) in March, recovering after a deficit in February, but still the worst performance in the first quarter of the last four years, according to central bank data released this week.

• Thursday, May 2nd 2013 - 07:06 UTC

  YPF admits ‘inflation in Argentina is a problem” and could be higher by next year

  

  Argentine nationalized energy company YPF warned on Tuesday that inflation in the country may keep rising and affect its results, a rare admission considering the company is controlled by a government known for playing down the problem.

• Thursday, May 2nd 2013 - 06:33 UTC

  Fire in Argentina knocks out main refinery and imports of gasoline and diesel trebled

  

  Almost four million barrels of diesel and gasoline were shipped from Europe and the US to Argentina where a recent major fire in the country’s main refinery significantly diminished the supply of refined produce. The situation could extend for another two years, according to private estimates from the oil industry.

• Thursday, May 2nd 2013 - 06:25 UTC

  Argentina natural gas imports in March soar 74% compared to a year ago

  

  Argentina's natural gas imports rose 74% to 28.4 million cubic meters/d in March, compared with 16.3 million cu m/d in the year-earlier period, the country’s Energy Secretariat said Monday. Imports were up 16% compared with 24.5 million cu m/d in February, according to a monthly data report.

• Wednesday, May 1st 2013 - 02:18 UTC

  Unpleasant surprises for the Uruguayan economy predicts a US financial group

  

  A serious deterioration is taking place under the surface of the Uruguayan economy and when the current inflow of foreign capital reverts, the country is going to suffer unpleasant shocks with a strong rise in the price of the US dollar and an increase in inflation, according to a report from the US based BCP Securities.

• Tuesday, April 30th 2013 - 07:22 UTC

  Argentine and Chilean ports publish book to promote cruise visits to Patagonia

  

  Five Argentine and Chilean Patagonia ports have teamed up to promote their tourism attractions and potential for the cruise industry by launching a hardcover limited edition book (1.000), in English and Spanish, with digital support under the heading of “Patagonia, cruises destination”.