Economy

• Friday, January 11th 2013 - 08:36 UTC

  Argentine tourists must pay 8 pesos for the US dollar in neighbouring countries

  

  Following on the climbing tendency since the beginning of the year, the ‘blue’ or ‘parallel’ US dollar traded in Buenos Aires at 7.25 Argentine Pesos with a 46% gap over the ‘official’ dollar that remained relatively stable at 4.95 Pesos.

• Friday, January 11th 2013 - 08:32 UTC

  An optimistic Dragui sees a “positive contagion” in the Euro zone economy

  

  European Central Bank (ECB) president Mario Draghi spoke on Thursday of a “positive contagion” in the Euro zone economy, saying that the financial situation is improving and growth is set to return in the second half of the year.

• Friday, January 11th 2013 - 08:25 UTC

  Obama nominates budget expert to replace Geithner as Treasury Secretary

  

  US President Barack Obama on Thursday nominated his chief of staff, Jack Lew, as the next Treasury secretary, praising him as a expert on the pressing national issues of spending cuts and deficit reduction.

• Friday, January 11th 2013 - 08:21 UTC

  Bank of England keeps monetary policy unchanged waiting for GDP figures

  

  The Bank of England on Thursday decided not to extend its quantitative easing (QE) stimulus program, which has injected £375bn into the UK financial system. It is also keeping its key interest rate unchanged at 0.5%, where it has been since March 2009.

• Thursday, January 10th 2013 - 18:56 UTC

  FAO food price index finished the turbulent 2012 down 7% compared to 2011

  

  The United Nations reported on Thursday that food prices fell for the third month in a row in December last year, balancing out sharp increases registered earlier in 2012, which had previously sparked fears of a food crisis.

• Thursday, January 10th 2013 - 03:54 UTC

  Brazilian corporations fearful of Venezuelan situation despite Brasilia support for Maduro

  

  Brazilian corporations with strong interests in Venezuela have expressed concern about the future of the country and its impact on Mercosur if the political transition, because of President Hugo Chavez health condition, does not follow the constitutional process

• Thursday, January 10th 2013 - 03:35 UTC

  How the Americas can secure much needed ‘game-changing’ global expansion in higher education

  

  By Anka Mulder - Over the next decade, it is estimated by the World Economic Forum (WEF) that the global economy will need to create some 600 million new jobs to preserve social cohesion, and ensure sustainable growth. In the midst of ongoing economic fragility across much of the world, this poses a monumental challenge, and will thus be one of the topics discussed at WEF annual meeting in Davos later this month.

• Wednesday, January 9th 2013 - 16:50 UTC

  Argos Resources storms ahead of its Falklands’ oil drilling rivals

  

  Argos Resources the only Falklands explorer to not drill a well has had the most successful year of them all in share price terms. Results of interpretation of 3D seismic data are encouraging with a number of prospects identified and the company is looking for industry partners to take exploration drilling forward. Year to date share price performance: up 107.92% at 24.95p.

• Wednesday, January 9th 2013 - 16:39 UTC

  Rockhopper planning minimum three wells offshore Falklands in 2014

  

  Rockhopper Exploration which discovered oil offshore the Falkland Islands in 2010 at its Sea Lion prospect is planning a minimum of three exploration and appraisal wells on its North Falkland Basin acreage in 2014 including Sea Lion satellites Casper, Casper South, and Beverley.

• Tuesday, January 8th 2013 - 21:13 UTC

  Sub-prime mortgage scandal: several US banks agree compensations totalling 20bn

  

  Bank of America has agreed to pay US government mortgage agency Fannie Mae 11.6bn dollars to settle claims relating to residential home loans. The bank will pay 10.3bn to settle claims relating to the loans and 1.3bn in compensation to the agency.