Economy

Monday, February 11th 2013 - 21:13 UTC
Everybody fears Berlusconi, who keeps climbing in the polls for Italian elections

Prime Minister Mario Monti accused his media magnate rival Silvio Berlusconi of trying to buy votes with impossible promises as Italy's election campaign entered its last phase. With February 24-25 vote two weeks away, polls suggest the centre-left Democratic Party (PD) will win a solid lower house majority but may need a deal with Monti's centrists to gain the control of the Senate it must have to govern.
Monday, February 11th 2013 - 01:00 UTC
Hague accuses Argentina of “bullying and intimidatory behavior” towards the Falklands

Foreign Secretary William Hague has accused Argentina of “bullying and intimidatory behaviour” towards the Falkland Islands. Mr Hague in a Sunday interview with The Sun promised never to negotiate over the islands' sovereignty unless their people called for it - a referendum will take place next month.
Monday, February 11th 2013 - 00:56 UTC
Brazil January inflation spike triggers concern for the government and investors

Brazilian inflation in January climbed to 0.86%, the highest for the month in the last ten years, according to the country’s stats office, IBGE. Inflation in December was 0.79%, ending the twelve months of last year at 5.82% which was in the target range with a ceiling of 6.5%.
Saturday, February 9th 2013 - 09:32 UTC
Venezuela devalues currency 32% to help cut 11% of GDP fiscal gap

Venezuela devalued its currency for the fifth time in nine years as ailing President Hugo Chavez seeks to narrow a widening fiscal gap and reduce a shortage of dollars in the economy. The new exchange rate falls by 32% to 6.3 Bolivar per dollar starting Feb. 13, Finance Minister Jorge Giordani told reporters in Caracas.
Saturday, February 9th 2013 - 09:16 UTC
India signs ambitious mining agreement with Uruguay

India has shown great interest in mining iron ore, granite, gold and diamond in Uruguay and has entered into a deal for exploring and encouraging investment opportunities in the mining sector, according to Indian sources visiting Uruguay.
Saturday, February 9th 2013 - 09:01 UTC
EU agreement on multi-annual budget with a 3.3% reduction for the time

After lengthy talks in Brussels European leaders have reached an agreement on the budget for 2014-20 with a ceiling of 960 billion Euros, the first time the EU multi-annual budget has been reduced.
Saturday, February 9th 2013 - 08:53 UTC
Breathing space for Ireland as EU softens bail-out conditions

Ireland clinched a long-awaited deal to ease the burden of its bank debts, sending its borrowing costs falling to pre-crisis levels and bolstering its chances of ending its reliance on EU-IMF loans this year.
Friday, February 8th 2013 - 06:51 UTC
“No big deal with inflation, I grew up in a country with 70%/80% inflation”

Two contrasting views have surfaced in the Uruguayan government regarding inflation which has been steadily climbing and seems so far immune to monetary tools, but is now the second highest in the region behind Argentina.
Friday, February 8th 2013 - 05:13 UTC
Economic activity in Chile expanded 4.7% in December and 5.5% in the twelve months

Economic activity in Chile grew 4.7% in December from the year earlier on gains in the service and retail industries, and ended the twelve months of 2012 with an expansion of 5.5% over the previous year according to Central bank data.
Friday, February 8th 2013 - 00:30 UTC
Air France returns to Uruguay as of next April with five flights a week

Uruguay seems to be recovering its air connectivity after a rough year that saw the closing down of its flag air carrier Pluna, and the announcement by Spanish airline Iberia that it will cease flights between Montevideo and Madrid as of next April. Iberia is the only European airline currently calling in Uruguay.