Economy

• Monday, March 11th 2013 - 08:15 UTC

  China’s February inflation and exports with positive messages for the economy

  

  China's inflation rate hit a 10-month high in February, as Lunar New Year festivities drove up food prices. Consumer prices rose 3.2% from a year earlier, with food prices up by 6%. Likewise exports rose more than expected in February, probably indicating that the Chinese economy could be in an upturn.

• Monday, March 11th 2013 - 05:32 UTC

  Brazil to scrap federal taxes on food staples to lower inflation

  

  Brazil announced it will scrap federal taxes on certain food staples and toiletries, the latest in a series of measures to curb prices after a surprise jump in inflation in February triggered alarm bells.

• Sunday, March 10th 2013 - 11:38 UTC

  PM Cameron fumble turns austerity and budget cuts policy into a national debate

  

  Prime Minister David Cameron was reprimanded by a budget watchdog for claiming that it did not see his austerity agenda as a drag on Britain's economy. In a speech on Thursday, Cameron said his deficit-cutting agenda was not responsible for the country's depressed growth rate which was instead caused by the financial crisis, the Euro zone's problems and higher oil prices - a view he said was endorsed by the independent watchdog.

• Sunday, March 10th 2013 - 11:29 UTC

  Fitch downgrades Italy’s debt rating; economy forecasted to contract 1.8% this year

  

  Ratings agency Fitch added to Italy's mounting problems this week by cutting its credit rating due to the political uncertainty after last week's election, deep recession and rising debt. Fitch lowered Italy's sovereign rating by one notch to BBB plus, with a negative outlook, raising the risk that its next ratings change will be a further downgrade.

• Saturday, March 9th 2013 - 04:40 UTC

  US jobs market picks up in February but budget dispute with Congress looms

  

  Hiring in the US has gathered momentum after government figures showed that the economy created 236.000 jobs in February. The figure was much higher than analysts had expected, and more than the 157,000 jobs created in January.

• Saturday, March 9th 2013 - 04:16 UTC

  ECB calls on governments to promote growth and combat the tragedy of unemployment

  

  European Central Bank President Mario Draghi urged indebted governments to move beyond spending cuts and tax hikes and introduce reforms that would boost growth and reduce the “tragedy” of unemployment.

• Friday, March 8th 2013 - 07:58 UTC

  Uruguay completes investment-grade ‘triple crown’ from the three big credit rating agencies

  

  Uruguay finally managed on Thursday to achieve investment grade debt rating from the three major agencies when Fitch raised the country’s rating to BBB-minus from BB-plus, citing economic resilience as well as the political and social stability of the country, squeezed between Brazil and Argentina.

• Friday, March 8th 2013 - 07:50 UTC

  IDB approves largest financial operation for Uruguay: 550 million dollars

  

  The Inter-American Development Bank (IDB) has approved a 550 million dollars operation for Uruguay to fund the Program for Strategic International Positioning, which aims to substantially increase investment and exports by strengthening the regulatory and institutional framework, promoting and facilitating trade, and boosting entrepreneurial innovation.

• Thursday, March 7th 2013 - 07:01 UTC

  IMF mission in Argentina to check financial system, in framework of G20

  

  Officials from the International Monetary Fund and the World Bank arrived in Argentina on Tuesday to evaluate the country's financial system as part of checkups agreed among Group of 20 nations, according to a report from the official state news agency, Telam.

• Thursday, March 7th 2013 - 06:56 UTC

  Cuban leadership trusts Venezuelan oil and financial aid will continue to pour in

  

  A mix of sorrow, self-interest and dread took hold of Cuba as word spread like wildfire that Venezuelan President Hugo Chávez, who had done so much for the country, was dead. While the official newscast devoted its entire program to events unfolding in Caracas, the government reaction was slow in coming.