Economy

• Tuesday, October 9th 2012 - 04:07 UTC

  Chinese auto manufacturers flocking to open plants in Brazil

  

  Anhui Jianghuai Automobile Co Ltd has become the latest Chinese automaker to invest in a production project in Brazil, the world's fourth-largest automobile market, to avoid the high taxes on imported vehicles.

• Tuesday, October 9th 2012 - 03:15 UTC

  IMF top economist points to global uncertainty; wishes forecasts were ‘inaccurate’

  

  The IMF cut its global growth forecast for the second time since April and warned US and European policymakers that failure to fix their economic ills would prolong the slump.

• Tuesday, October 9th 2012 - 03:10 UTC

  Euro-zone launches 500bn bailout fund; Spain “needs no aid program”

  

  Euro-zone finance ministers launched their permanent 500 billion Euro bailout fund on Monday but said Spain, the country widely expected to be first to draw on it, was taking steps to overhaul its economy and did not need a bailout for now.

• Tuesday, October 9th 2012 - 02:48 UTC

  IMF cuts Latam growth forecast to 3.2% and 2.9% in 2013; Brazil 1.5% and 4%

  

  The IMF cut its growth forecasts on Monday for Latin America and its largest economy Brazil, against a backdrop of deteriorating global growth and contagion risks if the Euro zone crisis deepens and China's growth slows more than expected.

• Tuesday, October 9th 2012 - 00:03 UTC

  Designer brands fleeing from Argentina’s imports and exchange restrictions

  

  Kenzo, Louis Vuitton, Armani, Calvin Klein, Polo Ralph Lauren, Cartier are some of the designer luxury brands that have left or are leaving Argentina forced by the very strict import restrictions and money exchange controls.

• Monday, October 8th 2012 - 20:43 UTC

  Paraguay expects 9.5% expansion next year propped by a ‘super soybean crop’

  

  Paraguay’s economy is forecasted to contract 1.5% in 2012 but in 2013 will soar 9.5% based on a “super soybean crop” and the recovery of other sectors, according to the latest report from the country’s Central bank confirming its previous 2012 GDP estimate.

• Monday, October 8th 2012 - 06:26 UTC

  Brazilian banks have room “to cut consumer lending rates in half”

  

  Brazilian banks have room to cut consumer lending rates in half, Brazil's Finance Minister Guido Mantega said in remarks published this weekend in the O Globo newspaper.

• Monday, October 8th 2012 - 06:18 UTC

  PM Cameron anticipates further cuts in public spending to reduce the deficit

  

  Britain will have to keep cutting public spending to reduce the budget deficit, Prime Minister David Cameron said, underlining the government's tough task of trying to shunt the economy out of recession and winning back waning public support.

• Monday, October 8th 2012 - 06:15 UTC

  Sunday of protests against austerity measures in cities across Spain

  

  Thousands of Spaniards on Sunday marched in cities across the country to decry tough austerity measures, part of a growing protest movement that shows no signs of abating and could culminate in a general strike in November.

• Saturday, October 6th 2012 - 15:16 UTC

  IMF cuts global growth estimates; calls for clear political leadership to restore confidence

  

  The IMF has cut its global growth forecasts for this year and 2013 and called on politicians in the Euro-zone and the US to take “decisive” steps to restore confidence, a German newspaper said Friday.