Economy

• Friday, November 23rd 2012 - 23:20 UTC

  Mujica calls for prudence with salaries: “look at what is happening on the other side (Argentina)”

  

  Uruguayan president Jose Mujica appealed to workers and entrepreneurs to avoid an escalation of salaries and prices which leads “to all sort of fiddling” as is happening in Argentina.

• Friday, November 23rd 2012 - 21:15 UTC

  Brazil steering its currency to competitive ground for manufacturing

  

  Brazil's exchange rate is at a reasonable level though not totally satisfactory said Finance Minister Guido Mantega on Friday, in an indication that the government is prepared to further weaken the Real to boost a still weak economy.

• Friday, November 23rd 2012 - 20:06 UTC

  CPR confirms potential of Desire Petroleum discoveries in the Falklands

  

  Falklands’ oil explorer Desire Petroleum announced on Friday that the findings of a Competent Person’s Report, CPR, have confirmed the potential of its discoveries offshore the Islands in the North Falkland Basin.

• Friday, November 23rd 2012 - 13:10 UTC

  Argentina wheat forecast down because of flooding in key parts of farm belt

  

  Argentina's government cut this season's wheat output forecast, citing three months of heavy rains that started in August and flooded key parts of the Pampas farm belt, the Agriculture Ministry said on Thursday.

• Friday, November 23rd 2012 - 13:06 UTC

  Bolivia accepts invitation to become a full member of Mercosur

  

  Bolivia accepted the official invitation to become full member of Mercosur and hopes to sign the first accords during the coming summit of the block in early December in Brasilia, said President Evo Morales.

• Friday, November 23rd 2012 - 05:24 UTC

  Argentina to request on Monday a review of US Judge Griesa latest ruling

  

  Argentine Economy Minister Hernán Lorenzino assured during a press conference on Thursday that “paying off the vulture funds is illegal,” and said that the ruling by US District Judge Thomas Griesa against Argentina is “unfair”.

• Friday, November 23rd 2012 - 01:46 UTC

  Roubini warns Argentina is heading for a highly vulnerable “State capitalism”

  

  Argentina is adopting measures that impact negatively on investors and consumers confidence warned US economist Nouriel Roubini who became world famous for having anticipated the international crisis of the sub-prime mortgages and junk bonds.

• Thursday, November 22nd 2012 - 21:09 UTC

  Brazilian labour market robust with unemployment 5.3% in October

  

  Brazil's unemployment rate fell in October, suggesting the country’s robust labour market will continue to support domestic demand through an incipient economic recovery.

• Thursday, November 22nd 2012 - 14:50 UTC

  Argentina’s outbursts backfire: Judge Griesa orders payment to holdout bond investors

  

  Argentina suffered a stinging blow late Wednesday when New York federal judge Thomas Griesa, citing threats by the country's leaders to defy his rulings in a decade-old dispute over defaulted sovereign bonds, ordered immediate payment.

• Wednesday, November 21st 2012 - 21:18 UTC

  Another Argentine province confirms ‘pesification’ of dollar-denominated bonds

  

  Another Argentine province, Formosa announced that it would be repaying in Pesos its dollar-denominated bonds (FORM3) issued under local law, at an exchange rate of 4.81 Pesos per dollar.