Economy

Sunday, January 27th 2013 - 02:03 UTC
With Argentine navy’ honour lying on her side, Minister Puricelli could be next official removed

The Argentine government has removed two top naval officers from their duties following the sinking, this week at her moorings pier-side of the destroyer “Santisima Trinidad” once the flagship of the service and which was actively involved in the invasion of the Falklands in 1982.
Saturday, January 26th 2013 - 21:31 UTC
IMF: Latam growth estimates contained because of Brazil’s poor performance

The IMF downgraded growth estimates for Latinamerica in 2013 from 3.9% to 3.6%, mainly because of an anticipated poor showing of the region’s largest economy Brazil, according to the Fund’s latest report on the world economy prospects.
Saturday, January 26th 2013 - 21:23 UTC
Lagarde surprised at the ‘very slow’ recovery of the Brazilian economy

IMF Managing Director Christine Lagarde said she is unsure about Brazil’s economic outlook despite the country’s official estimate of 3.5% growth this year, since recovery is “very slow” as the 1% of 2012 showed.
Saturday, January 26th 2013 - 20:59 UTC
Major summit in Santiago with inverted roles: EU knocks on the door of Latam

Representatives from sixty countries begin Saturday in Santiago de Chile the two day summit which breaks with recent tradition: Latin American countries, full of economic confidence, are hosting their European partners and are expected to volunteer to help with Europe’s economic problems.
Saturday, January 26th 2013 - 19:01 UTC
EU27/CELAC trade experienced sharp decline in 2009 with strong recovery since

The European Union27 international trade in goods with the Community of Latin American and Caribbean States, (CELAC), has been characterised in recent years by steady growth between 2003 and 2008, a sharp decline in 2009 and a strong recovery since then.
Saturday, January 26th 2013 - 04:26 UTC
Spain’s jobless soars to 26%; 1.8 million households with no member employed

Spain’s unemployment rate shot up to a record 26% in the fourth quarter of 2012, leaving almost six million people out of work, the National Statistics Institute said on Friday. The rate rose from 25% in the third quarter as the country’s recession deepened.
Saturday, January 26th 2013 - 04:10 UTC
Chancellor Osborne will ‘not run away’ from UK economic woes despite triple-dip recession signals

Chancellor George Osborne has vowed not to “run away” from Britain's economic woes amid fresh signs the UK is heading for an unprecedented triple dip recession. The first official estimate from the Office for National Statistics (ONS) revealed the economy shrank by 0.3% between October and December, slamming the recovery into reverse after the 0.9% growth seen in the previous quarter.
Friday, January 25th 2013 - 17:48 UTC
Argentina easing imports’ restrictions mainly for Mercosur associates

The government of President Cristina Fernandez has decided to revoke non-automatic licensing requirements which had been placed on certain products before they could be imported into Argentina for consumption, according to a resolution published Friday on the Official Gazette. But earlier in the week Argentina increased the import tariff on a hundred products to the maximum authorized by WTO, which is 35%.
Friday, January 25th 2013 - 07:43 UTC
Argentina’s industrial production down in 2012, first time in a decade

Industrial output dropped 1.2% in 2012 compared to the volume registered in 2011, Indec national statistics bureau reported on Thursday. The Industrial Monthly Estimator (EMI) stated that industrial production dropped 3.4% in December when compared to the same month of 2011
Friday, January 25th 2013 - 07:39 UTC
Global economic rebound in 2014 following on a weakened 2013, says IMF

An unexpectedly stubborn Euro zone recession and weakness in Japan will weigh on global economic growth this year before a rebound in 2014 that should deliver the fastest expansion since 2010, according to the International Monetary Fund.