Economy

• Wednesday, April 24th 2013 - 22:50 UTC

  US dollar soars in Argentina and is just a few cents away of 9 Pesos in the parallel market

  

  The US dollar in Argentina’s ‘blue’ or parallel market skyrocketed on Wednesday to 8.91 and 8.94 Pesos, beating the previous record of 8.75 Pesos from March 20, previous to Holy Week. The official rate meantime remained relatively stable and closed trading at 5.13 and 5.18 Pesos, which means the gap between the two markets stands at 71%.

• Wednesday, April 24th 2013 - 06:50 UTC

  Cristina Fernandez hosts Rousseff to address political and trade issues

  

  Brazilian president Dilma Rousseff will travel to Buenos Aires on Thursday for a two-day meeting with her Argentine counterpart Cristina Fernández and discuss political and trade matters between the two countries after an imports drop in Argentina last year and the cancelling by Brazil of a major investment project.

• Wednesday, April 24th 2013 - 06:29 UTC

  Falkland Island's booming economy: request to develop two 200-bed accommodations

  

  In anticipation of the business opportunities the oil industry will bring to the Falkland Islands, a leading company has plans to build in the capital Stanley two temporary 200-bed accommodations, according to the planning applications received.

• Wednesday, April 24th 2013 - 06:03 UTC

  Latam/Caribbean region forecasted to expand 3.5% propped by domestic demand

  

  Latin American and Caribbean countries will grow on average 3.5% this year supported by a strong domestic demand and the improved performance of Argentina and Brazil compared with 2012, according to the latest “Updated economic review of Latin America and the Caribbean 2012’ from the UN Economic Commission for Latinamerica and the Caribbean, ECLAC.

• Wednesday, April 24th 2013 - 05:49 UTC

  Brazil to the rescue of the sugar-ethanol industry with lower taxes and soft credit

  

  The Brazilian government has come to the rescue of the sugar-ethanol industry announcing that as of next May first the mandatory content of ethanol in gasoline will increase from 20% to 25%, taxes on the sugar-cane fuel will be eliminated and there will be soft loans to keep expansion going.

• Wednesday, April 24th 2013 - 01:06 UTC

  Chile’s growing concern with soaring Peso and plummeting dollar in local market

  

  Chilean authorities are feeling “calmer” with the exchange rate nearing 480 pesos per US dollar, Finance Minister Felipe Larrain said on Tuesday, as the currency retreated from the year-and-a-half highs it reached earlier this month.

• Tuesday, April 23rd 2013 - 21:17 UTC

  Will Cartes fall prey to the past or make Paraguay part of an emerging new Latinamerica?

  

  By R. Viswanathan (*) - Horacio Cartes of the Colorado party won the presidential elections held last Sunday in Paraguay. The Colorados had ruled the country continuously for 61 years in a one-party dictatorship until 2008 when Fernando Lugo, the leftist “Bishop of the Poor” defeated the Colorado candidate and made history.

• Tuesday, April 23rd 2013 - 21:12 UTC

  World economic forum on Latinamerica’s future begins in Lima

  

  In the midst of global economic uncertainty, Latin America has maintained steady levels of economic growth and financial resilience over the past decade. The region has a forecast of almost 4% economic growth in 2013, and it is this encouraging prospect that is the focus of the 2013 World Economic Forum on Latin America in Lima, Peru, which opened on Tuesday 23 until April 25.

• 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.