Economy

• Wednesday, December 5th 2012 - 19:15 UTC

  Inflation in Uruguay remains out of target despite government efforts

  

  Uruguay’s inflation in November was over 9% in the last twelve months despite government efforts to contain it by agreeing a price freeze with leading supermarkets and having public utilities’ rates unchanged.

• Wednesday, December 5th 2012 - 18:45 UTC

  Brazil extends tax breaks to construction industry to spur growth

  

  The Brazilian government extended tax breaks to the country's construction industry in a new effort to encourage investment and boost flagging growth which is putting pressure on the government to further include other stimuli measures.

• Wednesday, December 5th 2012 - 05:26 UTC

  EU and Mercosur to resume free trade talks at two events next January

  

  The European Union and Mercosur will resume talks on a free trade agreement during a coming summit in Brazil and later at a meeting in Santiago de Chile, both in January, according to the EU chief delegate in Brazil, Ana Paula Zacarias.

• Wednesday, December 5th 2012 - 00:07 UTC

  US court rules in favour of Argentina: denies security deposit requested by hedge funds

  

  US appeals court refused to order Argentina to post a security deposit of at least 250 million dollars while it seeks to overturn a lower court ruling that orders it to pay holdout investors 1.33 billion.

• Tuesday, December 4th 2012 - 18:42 UTC

  Spain’s jobless almost 5 million and no prospects of a rebound in near future

  

  Spain's jobless grew to a new record in November, official data showed Tuesday. The number of people registered as unemployed grew by 74.296 or 1.5% to 4.91 million in November from the previous month, the Labour Ministry said on Tuesday.

• Tuesday, December 4th 2012 - 16:24 UTC

  Punished by inflation a third of Argentines with difficulties to face monthly payments

  

  A third of Argentines have difficulties to face monthly costs because of inflation and lagging salaries, and 11% admit to “many difficulties” according to the latest Poliarquía public opinion poll released this week.

• Tuesday, December 4th 2012 - 16:10 UTC

  Mexico strikes largest on land light oil deposit in a decade

  

  Mexico’s government oil and gas giant Pemex confirmed the discovery of a crude reserve which could hold over 500 million barrels, and described as the largest on land strike in the last decade.

• Tuesday, December 4th 2012 - 05:49 UTC

  Spending galore: Argentine central bank financing Treasury outlay shortcomings

  

  The Argentine central bank has been financing the Treasury with so called ‘transitory advances’ to the tune of 101 billion Pesos (approx 20bn dollars), a sum which is expected to increase given the additional outlays of the end of the year particularly with the Christmas bonus.

• Tuesday, December 4th 2012 - 05:44 UTC

  Paraguay economy poised to expand 11.3% in 2013 propped by agriculture

  

  The Paraguayan economy is poised to expand 11.3% next year propped by the strong recovery from agriculture according to Pricewaterhouse Coopers, an estimate far more optimist than the 9.5% of the government budget.

• Tuesday, December 4th 2012 - 03:12 UTC

  Bolivia confirms willingness to become Mercosur full member at Friday’s summit

  

  Bolivia will announce to its peers at the Mercosur summit in Brasilia, later this week that it is willing to adhere to the trade block as a full member, reported Amanda Dávila, Communications minister.