Economy

• 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”.

• Monday, April 29th 2013 - 23:22 UTC

  US dollar in Argentina drops a few cents on Monday trading but remains volatile

  

  The ‘parallel’ or ‘blue’ dollar in Argentina which last week soared day after day to reach on Friday a record 9.30 Pesos, on Monday edged down four cents to 9.26 Pesos while the official ‘dollar’ remained stable at 5.13 and 5.19 Pesos (buying and selling).

• Monday, April 29th 2013 - 23:17 UTC

  Argentine government considering options to contain the ‘parallel’ dollar

  

  The Argentine government is considering different options to contain the current skyrocketing of the US dollar, but according to the financial media there are different positions in the cabinet of President Cristina Fernandez. One of those calls for direct interventions while the other adopts a more passive attitude saying the issue is speculative and ‘marginal’.

• Monday, April 29th 2013 - 20:17 UTC

  Argentina transfers 400 million dollars to IMF to have greater access to emergency cash

  

  Argentina which the IMF censured for underreporting inflation less than three months ago after three warnings over the past two years, last week authorized the deposit of 400 million dollars with the Washington-based lender to increase the nation’s access to emergency cash.

• Monday, April 29th 2013 - 06:15 UTC

  Technician Saccomanni will be responsible for Italy’s economy

  

  Italy's new government line-up brings together personalities from across the political spectrum, from Silvio Berlusconi's apparent successor to a crime fighter and a militant feminist from the radical party. Some of the key names of the ‘grand coalition’ members tasked with tackling the social and economic crisis in recession-hit Italy-.