Economy

• Tuesday, April 23rd 2013 - 06:46 UTC

  Brazil investigating sale of 20 Embraer E-190 to Aerolíneas Argentinas fearing surcharges

  

  Brazil’ aircraft manufacturer Embrear is again resurfacing suspicions regarding the sale of commercial planes to Aerolineas Argentinas involving several million dollars in surcharges. The company informed the US Securities and Exchange Commission, SEC, that it is investigating companies from five different countries to which it sold aircraft allegedly in transactions suspicious of irregularities.

• Tuesday, April 23rd 2013 - 04:15 UTC

  Ralph Lauren fined in the US for briberies committed by Argentine subsidiary

  

  Ralph Lauren Corp. has agreed to pay 1.6 million dollars to the US Securities and Exchange Commission, SEC, after finding that its subsidiary in Argentina repeatedly bribed customs officials, federal authorities announced Monday.

• Tuesday, April 23rd 2013 - 02:09 UTC

  Argentina and Brazil private sectors team up to promote exports to Arab countries

  

  With the intention of boosting exports to Arab nations, the Argentine and Brazilian chambers of commerce have established an Arab-South American Commerce Federation it was reported in Buenos Aires.

• Monday, April 22nd 2013 - 07:43 UTC

  Mathematician will be responsible for putting Venezuelan inflation back on its feet

  

  President Nicolas Maduro replaced Venezuelan Finance Minister Jorge Giordani, appointing central bank chief Nelson Merentes in his place two days after being sworn in as Hugo Chavez's successor.

• Saturday, April 20th 2013 - 09:07 UTC

  Uruguay investing hundreds of millions to support the US dollar and exports edge

  

  Uruguay’ financial and political stability is backfiring as the Central bank is forced to buy a massive inflow of foreign capital which in turn creates an abundance of Pesos that need to be absorbed to control inflation and support the competitive edge of the country’s exports.

• Saturday, April 20th 2013 - 09:01 UTC

  Positive cruise season for Uruguay and further growth prospects for 2013/14

  

  Last Wednesday April 17 ‘Splendour of the Seas’ and its 1.940 passengers marked the end of the 2012/13 cruise season for Uruguay, which took off on 23 October and totalled 222 calls between the port of Montevideo and Punta del Este sea resort.

• Saturday, April 20th 2013 - 08:56 UTC

  Fitch trims UK top credit rating on weaker economy and fiscal outlook

  

  Britain's credit standing took a further blow when Fitch Ratings became the second major international agency to strip the country of its top-notch credit rating. The move is an embarrassment for the Conservative-led government which promised to protect the country's rating when it took power in 2010, and will heighten the debate about whether austerity is still the right approach.

• Saturday, April 20th 2013 - 08:39 UTC

  US hedge funds reject Argentina’s offer to settle defaulted sovereign bonds suit

  

  Two US hedge funds suing Argentina for full payment on defaulted bonds rejected on Friday, President Cristina Fernandez government offer to settle the suit with a deal that would give them approximately 25% of what they were seeking.

• Saturday, April 20th 2013 - 08:32 UTC

  Argentines expecting inflation above 30% for the next twelve months

  

  Argentines are expecting an inflation of 34.2% in the coming twelve months according to the average from a monthly report released by a prestigious private university research centre based on surveys,

• Saturday, April 20th 2013 - 06:26 UTC

  IMF again warns Argentina: new inflation index “is not enough”

  

  Argentina's new inflation measure is not enough to overcome the International Monetary Fund's censure of the country for inadequate data, an IMF official said Friday.