Economy

• Friday, May 17th 2013 - 06:46 UTC

  Argentine whitewash bill turning into ugly electoral debate

  

  Argentina’s whitewashing bill or more modestly ‘tax amnesty’ has joined the political debate of the coming October mid-term elections. The tax revenue bureau or AFIP confirmed taxpayers’ “legitimate externalization right” “will not be affected” even in the “hypothetical case that the opposition manages to rally a majority parliamentary stance” after October’s legislative elections.

• Friday, May 17th 2013 - 06:40 UTC

  Pope Francis condemned the global ‘cult of money’ and the ‘new idols’

  

  Pope Francis has condemned the global “cult of money” and urged world leaders to do more for the poor. In his first major speech on finance and the economy, the pontiff said money should be made to “serve” people, not to “rule” them.

• Friday, May 17th 2013 - 02:38 UTC

  Prince Harry and PM Cameron launch in New York global campaign to promote Britain

  

  HRH Prince Harry and UK Prime Minister David Cameron this week kicked off a global tour promoting Britain as a world class destination for trade, tourism, investment and education as part of the GREAT Britain campaign.

• Friday, May 17th 2013 - 00:19 UTC

  IAATO Search and Rescue workshop in Punta Arenas underlines importance of good communications

  

  The International Association of Antarctica Tour Operators (IAATO) and the Chilean Marine Rescue Coordination Centre (MRCC) provided on Thursday details on a joint Search and Rescue Workshop conducted last month in Punta Arenas, Chile.

• Thursday, May 16th 2013 - 06:55 UTC

  Argentina inflation in April was 0.7%, according to the official stats office

  

  Argentina’s Consumer Price Index was up 0.7% in April and 3.1% in the first four months of the year according to the official stats office, Indec. Clothing, education, transport and communications were the items which experienced the strongest increase over March.

• Thursday, May 16th 2013 - 03:24 UTC

  Chevron agrees to invest 1.5bn dollars in developing YPF shale field in Patagonia

  

  Argentina’s nationalized oil company YPF signed on Wednesday an agreement with US oil major Chevron Corp to define the terms and conditions of Chevron's investment of 1.5 billion dollars in the vast Vaca Muerta shale field.

• Wednesday, May 15th 2013 - 22:15 UTC

  EU recession for the sixth consecutive quarter; France joins the club with 0.2% contraction

  

  Wednesday’s economic growth numbers make it official: the Euro zone is in its longest recession since records began in 1995. The 17-nation economy shrank by 0.2% between January and March, compared with last quarter's decline of 0.6%, deepening the bloc's recession as economic output fell for the sixth consecutive quarter.

• Wednesday, May 15th 2013 - 21:59 UTC

  Paraguay on Independence Day blasts Argentina and Brazil over “power resource exploitation”

  

  President Federico Franco said Paraguay has long cancelled its debts for the construction of two huge shared hydroelectric dams with its powerful neighbours and demanded Argentina pay for the surplus energy it receives and compensation for flooding Paraguayan territory.

• Wednesday, May 15th 2013 - 17:26 UTC

  North American oil production surge forecasted to transform world market in next five years

  

  The supply shock created by a surge in North American oil production will be as transformative to the market over the next five years as was the rise of Chinese demand over the last 15, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report (MTOMR) released this week.

• Wednesday, May 15th 2013 - 07:32 UTC

  Argentina April inflation 23.67% in 12 months; partial prices-freeze to continue until October election

  

  Argentina’s inflation in April was 1.52% and 23.67% in the last twelve months according to the so called Congress index which is calculated by private agencies and was released on Tuesday.