Economy

Tuesday, May 14th 2013 - 23:13 UTC
Venezuela net importer of gasoline in 2012 because of Amuay refinery fire

Venezuela in 2012 became a net importer of gasoline as a result of escalating problems at its refineries and increasing demand for fuel in its internal market, joining a growing list of countries that struggle with fuel supplies despite ample oil reserves.
Tuesday, May 14th 2013 - 23:04 UTC
Record FDI year confirms Latam as commodities supplier but with little technology input

Latin America and the Caribbean received last year a record 173.361 billion dollars in foreign direct investment (FDI) (6.7% more than in 2011), despite an international context characterized by shrinking FDI flows worldwide, according to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
Tuesday, May 14th 2013 - 23:00 UTC
New WTO chief says it’s time for ‘modulating’ ambition and pushing protectionism back

Brazil’s Roberto Azevedo vowed to revive the deadlocked World Trade Organisation, as he was confirmed this week as the incoming leader of the body which sets the rules for global commerce.
Tuesday, May 14th 2013 - 18:58 UTC
Argentine inflation controversy: court vindicates private stats agencies

An Argentine appeals court threw out the fines that Domestic Trade Secretary Guillermo Moreno had slapped on private firms that issued inflation estimates that were much higher than the government’s official rate.
Tuesday, May 14th 2013 - 18:32 UTC
Monsanto wins leading soybean seed replicating case to the relief of biotechnology industry

In a decision that drew sighs of relief from the biotechnology industry, the US Supreme Court ruled that an Indiana farmer violated agribusiness company Monsanto Co’s patent for a type of soybean. The court agreed unanimously with Monsanto that Vernon Bowman, 75, had performed an end-run around the law when he used the company’s patented soybean seeds without seeking a licence.
Tuesday, May 14th 2013 - 06:49 UTC
Whitewashing draft bill and Moreno have US ‘blue’ dollar market in Argentina flat

Trading of the ‘blue’ or parallel dollar in Argentina remained flat on Monday for a second day following last week’s events when the 10 Pesos barrier was broken and the government reacted with a tax amnesty or whitewashing draft bill promising all dollar assets holders a new clean record and no questions asked if they turn their greenbacks into government bonds or promissory notes.
Tuesday, May 14th 2013 - 06:40 UTC
A British-American tax and trade agenda

By PM David Cameron - The Wall Street Journal - Britain and America have a proud history of working together to meet the great challenges of the day. Ours is a partnership without parallel, rooted in our values of freedom and enterprise—advancing not just Britain’s and America’s interests but the good of people around the world.
Tuesday, May 14th 2013 - 06:36 UTC
Petrobras completes record bond offering and collects 11 billion dollars

Brazil’s state-controlled oil firm Petrobras sold 11 billion dollars of global debt on Monday in the largest-ever bond offering by a Latin American company. The deal was split in six tranches comprised of fixed- and floating-rate debt with maturities ranging from three to 30 years, according to a report from Thomson Reuters.
Tuesday, May 14th 2013 - 06:26 UTC
Watch out for the new dollars bills: Treasury bans loopy signatures

US Treasury Secretary Jack Lew, who was mocked for his loopy signature, has offered a more legible version. His new sign-off, on a recent Treasury report, showed an attempt to lay out the letters more clearly.
Tuesday, May 14th 2013 - 06:13 UTC
Tougher regulations and responsibilities for credit rating agencies in Europe

Credit rating agencies (CRA) such as Moody’s, Fitch or Standard & Poor’s will have to work under more strict regulations in the European Union where they could face claims if investors suffer a loss due to an infringement committed by the agency intentionally or with gross negligence, according to a European Council directive approved on Monday.