Economy

• Wednesday, February 20th 2013 - 05:26 UTC

  Interpol cracks down on illegal logging in Central and South America: 200 arrested

  

  Interpol has announced that it arrested nearly 200 people in a wide-ranging international operation against illegal logging and the trafficking of timber. The three-month effort spanned 12 Central and South American countries, and 8 million dollars worth of timber was seized.

• Tuesday, February 19th 2013 - 05:24 UTC

  Buenos Aires City property sales plummet 27% in 2012 because of the dollar clamp

  

  Property sales in the City of Buenos Aires plummeted 27% during 2012 according to a release from the Notaries College of the Argentine capital. The release shows 46.627 deeds were signed in 2012, which represents a significant 27% shrinkage in comparison to 2011 while the figure in Pesos dropped 21.2%.

• Tuesday, February 19th 2013 - 05:18 UTC

  Brazil heading for record crop of 185 million tons of grains, anticipated Rousseff

  

  Brazil this year will harvest the largest grain and oilseed crop in the country’s history, which could reach 185 million tons, according to an announcement from President Dilma Rousseff during her weekly radio message.

• Monday, February 18th 2013 - 16:29 UTC

  Morales nationalizes control of Bolivia three main airports

  

  Populist Bolivian President Evo Morales on Monday nationalized control of the country’s three main airports from Spain’s operator Abertis-Aena, arguing that the company had not fulfilled investments commitments promised for years.

• Monday, February 18th 2013 - 06:18 UTC

  Mantega anticipates higher interest rate to help keep inflation under control

  

  Brazil’s Finance minister Guido Mantega in Moscow for the G-20 meeting, said that inflation above the government's target raises a yellow flag and that monetary policy, not the exchange rate, is the right tool to control prices.

• Monday, February 18th 2013 - 00:24 UTC

  Cruise industry warns South America: itinerary costs are three times higher than in the Mediterranean

  

  Representatives from the cruise industry have cautioned Uruguay that port operational costs in South America could have a negative impact on what has been a steady increase of business in the last few seasons and this impact could be felt as soon as next year despite the fact that the 2012/2013 season on the Atlantic is proving to be quite successful despite an uncertain start. “Itineraries’ costs in South America are three times those of the Mediterranean”.

• Saturday, February 16th 2013 - 21:05 UTC

  G-20 rejects a ‘currency war’, but global situation too fragile to confirm it in facts

  

  The Group of 20 nations declared there would be no 'currency war' and deferred plans to set new debt-cutting targets in an indication of concern about the fragile state of the world economy.

• Saturday, February 16th 2013 - 20:50 UTC

  Brazilian business community demands the country signs trade accords with third countries

  

  Brazilian businesspeople and diplomats expressed their disappointment with Mercosur and said it was crucial for Brazil to sign free trade agreements on its own with third countries, which under current rules of the South American trade block are not allowed.

• Saturday, February 16th 2013 - 20:39 UTC

  Cristina Fernandez inflation index for January less than half private estimates

  

  Official inflation in Argentina increased 1.1% in January compared to the previous month, Indec national statistics bureau reported on Friday. The hike in prices was led by transport as train and bus fares increased by 6.1%. The annualized rate jumped to 11.1%.

• Saturday, February 16th 2013 - 20:34 UTC

  Nationalized YPF in 2012 cut oil production decline and showed modest increase

  

  Argentina’s nationalized oil and gas corporation YPF said oil output rose 2.5% last year, compared with an 8% decline in 2011 while natural gas output fell 2.3% on the year, versus an 11% decline in 2011. According to the statement YPF aims to boost oil production by 4% and gas output by 1.8% in 2013.