Economy

• Friday, December 7th 2012 - 02:18 UTC

  Brazil central bank expected to keep interest rates low for a ‘prolonged period’

  

  The Brazilian central bank indicated it will keep interest rates at their current level for an extended period given favourable signs for the inflation outlook.

• Friday, December 7th 2012 - 01:48 UTC

  ECB slashes Euro-zone growth prospects; further rate cut not discarded

  

  The European Central Bank on Thursday opened the door to a rate cut next year, after slashing its economic growth projections for the 17-member Euro- zone.

• Thursday, December 6th 2012 - 23:29 UTC

  EU, US and Japan ask WTO to rule on Argentine imports’ restrictions

  

  The European Union, the US and Japan have jointly asked the World Trade Organization to rule in a protracted trade dispute with Argentina. They criticize what they believe are unfair import restrictions and protectionism.

• Thursday, December 6th 2012 - 21:09 UTC

  FOGL ends drilling program in south Falklands; begins further seismic surveying

  

  Falklands Oil & Gas (FOGL) announced Thursday it had abandoned its Scotia exploration well in the south basin after disappointing results, thus completing its 2012 two-well drilling (Loligo and Scotia) program in the Falkland Islands.

• Thursday, December 6th 2012 - 07:49 UTC

  Latam needs structural reforms and equality to consolidate as economic power

  

  Economics and finance experts said Latin American must address structural reforms as part of the essential process to consolidate as an economic power and look after the Asian market.

• Thursday, December 6th 2012 - 00:35 UTC

  Repsol sues Chevron in New York over development of YPF energy assets

  

  Spain’s Repsol has sued Chevron Corp. in New York seeking to prevent the US oil giant from developing energy assets in Argentina. The federal lawsuit filed Tuesday follows other legal claims that the Spanish oil company has filed in Madrid and Washington, demanding more than 10 billion dollars in compensation for the majority stake in the YPF oil company that Argentina's government took over in April.

• Wednesday, December 5th 2012 - 23:53 UTC

  Argentina files complaints at WTO against US and EU for bans on beef and bio-diesel

  

  Argentina has filed complaints with the World Trade Organization against the United States over limits on beef and lemon shipments, and against the European Union and Spain for curbs on bio-diesel, Foreign Minister Hector Timerman announced.

• Wednesday, December 5th 2012 - 21:08 UTC

  Uruguay exporters complain about competitiveness and cheap dollar problems

  

  President Jose Mujica admitted on Tuesday before the country’s Exporters Union lobby that Uruguay has competitiveness problems and it is ‘not an easy challenge’ but nevertheless 2012 will again be a record year for overseas sales.

• Wednesday, December 5th 2012 - 20:33 UTC

  Argentine bullying tactics are despicable says Falklands MLA Summers

  

  The Argentine Government’s acts of intimidation towards cruise companies which have planned to visit the Falkland Islands continues to impact on the Islands tourism industry with a further two ships cancelling their February visits on Wednesday.

• Wednesday, December 5th 2012 - 20:06 UTC

  Brazilian industrial output expands in October, first annual increase in over a year

  

  Brazilian industrial output posted its first annual increase in more than a year in October as a tax break on autos helped support a nascent recovery in the country's beleaguered manufacturing sector.