Economy

• Monday, December 3rd 2012 - 23:08 UTC

  Argentina rejects complaint, accuses UK of illegal appropriation of Malvinas resources

  

  Argentina energetically rejected the UK complaint about alleged intimidation of vessels linked to Falklands/Malvinas activities as well as the awarding of squid licences in waters close to the South Atlantic archipelago.

• Monday, December 3rd 2012 - 21:17 UTC

  Argentine ambassador summoned over ‘intimidation’ to cruise lines calling in Falklands

  

  Britain summoned Argentina's ambassador to London on Monday after masked men ransacked the offices of a shipping company in Buenos Aires, a move the Foreign Office alleged was aimed at deterring ships from visiting the disputed Falkland Islands.

• Monday, December 3rd 2012 - 20:49 UTC

  Uruguay budget deficit trebles in twelve months and soars to 3% of GDP

  

  Uruguay’s budget deficit soared to 3% of GDP in the twelve months to the end of October, the highest since November 2003, (3.1%) when the country was recovering from the financial crisis which spilt over from Argentina. The deficit also exposes Uruguay’s precarious power generating situation.

• Monday, December 3rd 2012 - 06:01 UTC

  IMF reminds Argentina it must deliver a report on statistics advances by Dec 17

  

  The IMF ratified last week that by December 17 Argentina must reply to Managing Director Christine Lagarde on the latest advances referred to the country’s statistics both on inflation and GDP growth.

• Monday, December 3rd 2012 - 05:57 UTC

  Brazil farmland prices quadrupled over the past decade outpacing inflation

  

  Prices for farmland in Brazil surged by an average 14% a year to nearly quadruple over the past decade, well outpacing inflation and nearly matching gains made by São Paulo's blue-chip Ibovespa stock index, a new study shows.

• Monday, December 3rd 2012 - 05:11 UTC

  Brazil ‘trapped and isolated’ in Mercosur, should try trade agreements with US, says former president

  

  Former Brazilian president Fernando Henrique Cardoso said it was convenient to consider a trade integration with the Unites States given the very modest advances with Mercosur, where open trade has stalled or is far less than was expected when the original idea and is subjected to protectionist lobbies.

• Monday, December 3rd 2012 - 04:54 UTC

  Holdout funds want Argentina to deposit 250m by December 10

  

  Investment funds suing over Argentina's 2002 debt default have asked a US court to order the country to post a security deposit of at least 250 million dollars by December 10, while an appeal of a lower court's order is pending.

• Saturday, December 1st 2012 - 07:25 UTC

  Unasur summit rejects Falklands’ referendum and wants to limit ‘vulture funds’

  

  The Union for South American Nations (Unasur) agreed to limit the actions of ‘special situation funds’ (hedge funds or ‘vulture funds’) and categorically rejected a referendum that will take in place in the Falkland Islands in March to decide the political status of the archipelago, during the summit that took place in Lima.

• Saturday, December 1st 2012 - 07:00 UTC

  Moody’s downgrades EU financial support funds after France loses top grade

  

  Moody's Ratings agency announced it has downgraded the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) from “Aaa” to “Aa1,” with negative outlook on each.

• Friday, November 30th 2012 - 23:54 UTC

  Rousseff vetoes part of oil royalties’ bill: victory for producer states

  

  President Dilma Rousseff vetoed on Friday parts of a controversial oil royalties bill that pit Brazil's oil-producing states against the rest of the country in a battle over future oil wealth.