Economy

Saturday, January 5th 2013 - 05:53 UTC
Argentina among select group with the highest inflation in the last fiv-year period

Argentina is among the world’s countries which experienced the highest inflation in the last five years based on average data from the country’s private consultants and the IMF. The double digit inflation was estimated at 21.3%, an approximate average for the 2008/2012 period, and compiled by IERAL an Argentine business think-tank.
Saturday, January 5th 2013 - 05:41 UTC
Blackouts and agriculture collapse forecasted in drought stricken north-east Brazil

North-east Brazil is suffering its worst drought in decades, threatening hydro-power supplies in an area prone to blackouts and potentially slowing economic growth in one of the country's emerging agricultural frontiers.
Friday, January 4th 2013 - 23:40 UTC
Brazil appeals to sovereign fund and state companies’ profits to meet 2012 fiscal target

Brazil tapped into its sovereign wealth fund and state companies’ profits in an effort to meet its 2012 fiscal target.
Friday, January 4th 2013 - 22:15 UTC
EU expects to advance trade talks with Mercosur late this month in Chile

The European Union expects to advance cooperation and trade discussions with Mercosur late this month in Chile in the sidelines of the EU/Celac (Community of Latin American and Caribbean States), said EU ambassador in Chile, Rafael Dochao Moreno.
Friday, January 4th 2013 - 22:13 UTC
Swiss bank pleads guilty in US court to helping tax evasion and closes definitely

Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin, which was established in 1741, has also agreed to pay 57.8m dollars in fines to US authorities. The bank had admitted to allowing more than 100 American citizens to hide 1.2bn dollars from the Internal Revenue Service for almost 10 years.
Friday, January 4th 2013 - 22:09 UTC
Argentina implements strict rules and controls on the soccer industry

Every soccer team from the Argentine First and Second Division will as of this week have to open a bank account where they will deposit the total sum of money generated from soccer player transfers. Financial rights will now solely belong to the entities involved.
Friday, January 4th 2013 - 05:29 UTC
Former Director of three Departments awarded MBE ‘for services to Falklands’ interests’

The only Falkland Islander to figure in this year’s New Year’s Honours List was recently retired Director of Mineral Resources, Phyllis Mary Rendell, who was awarded an MBE for, “services to Falkland Islands interests.”
Thursday, January 3rd 2013 - 17:57 UTC
Argentina “again ignores the rights and wishes of the Falkland Islands people”

The Falkland Islands are an British Overseas Territory by choice, entirely self-governing except for defence and foreign affairs and have been settled for at least nine generations, well before Argentina even claimed what is today Tierra del Fuego, points out the Falklands’ elected government in a release-reply to the open letter from Argentine President Cristina Fernandez published on Thursday in the British press.
Thursday, January 3rd 2013 - 15:46 UTC
Uruguay exports in 2012 reach 8.7bn dollars, a new numerical record

Uruguay exports increased 9% last year over 2011 reaching 8.751 billion dollars a numerical historic record according to the primary figures released by the Instituto Uruguay XXI, a government funded organization to promote foreign trade. Soybeans, beef and rice remain as Uruguay’s main export items.
Thursday, January 3rd 2013 - 15:41 UTC
Brazil posts smallest annual trade surplus since 2002; sales to Argentina drop 20.7%

Brazil posted its smallest annual trade surplus in a decade last year as a sluggish global economy curbed demand for its products despite government efforts to boost exports. Brazil's trade surplus fell 35% to 19.44 billion dollars from the prior year, the weakest performance since 2002, Trade Ministry data showed on Wednesday.