Economy

Wednesday, November 21st 2012 - 20:07 UTC
Brazil increases gold holdings to 52.5 tons, according to the IMF

Brazil increased gold reserves for a second month in October to the highest level in more than 11 years as emerging nations from Kazakhstan to Russia boosted holdings by more than 40 metric tons.
Wednesday, November 21st 2012 - 08:03 UTC
Chile reopens market for Paraguayan beef after a twelve-month ban

Chile has re-opened its market to Paraguayan beef announced on Tuesday to his peers Sixto Miranda, head of the country’s Rural Society, following a meeting with Foreign Minister Jose Fernandez Estigarribia.
Wednesday, November 21st 2012 - 07:53 UTC
Cristina Fernandez: “no one is going to pressure me especially with bullying or thugs”

After the first national strike against her administration, Argentine President Cristina Fernández blasted the CGT and CTA-led protest claiming they appealed to “bullying” tactics and called on workers to defend the “economic development and inclusion model”.
Wednesday, November 21st 2012 - 07:48 UTC
Day of protest a “complete success” and “much stronger than we expected”

Argentine labour unions leaders said that support for the successful national strike was “much stronger than we expected” and urged President Cristina Fernández to listen to “people’s message.”
Tuesday, November 20th 2012 - 06:33 UTC
Major national strike in Argentina with pickets to implement the measure

Argentina’s three main organized labour groupings, and in opposition to Argentine president Cristina Fernandez, have called for a national strike on Tuesday which counts with the support of several tens of camp and city organizations plus hundreds of pickets in the main cities ‘to ensure there is no activity’.
Tuesday, November 20th 2012 - 01:40 UTC
Uruguay admits inflation is “decisively much higher” than expected

Inflation is a priority and is “decisively much higher than what authorities and public opinion would like” admitted Mario Bergara, Uruguay’s Central bank president during the opening on Monday of a two-day annual economic conference.
Tuesday, November 20th 2012 - 01:36 UTC
Repsol presses charges against Chevron for making business with nationalized YPF

Spanish oil company Repsol has pressed charges against Chevron over “disloyal competition”, after the US company reached an agreement with its former Argentine branch YPF to conduct explorations in the Vaca Muerta reservoir, a company spokesman announced.
Tuesday, November 20th 2012 - 00:46 UTC
Repsol wants fair compensation from Argentina; will appeal to all legal resources

Repsol Chairman Antonio Brufau has expressed his determination to reach a solution on compensation for the nationalisation of its shares in YPF, and says that he is willing to take the matter to an international court level to ensure a fair amount is paid.
Tuesday, November 20th 2012 - 00:02 UTC
Argentina “will not enter in default” and will honour all re-scheduled bonds

“The only possibility” Argentina contemplates regarding its debt is “to honour all payments” of creditors that entered debt swaps after the sovereign default of 2001, said Economy minister Hernan Lorenzino who underlined that Argentina “cannot and will not enter in default”.
Monday, November 19th 2012 - 12:22 UTC
Latin America pledges support for Spain but warns austerity only deepens the crisis

Latin America pledged investment opportunities for recession-hit Spanish and Portuguese companies but warned its former colonial masters drastic cost cutting would only deepen their misery.