Economy

• Sunday, November 4th 2012 - 06:24 UTC

  Argentina to blast ‘vulture funds’ at the G20 ministerial meeting in Mexico

  

  Argentine Economy Minister Hernán Lorenzino and Central Bank Governor Mercedes Marcó del Pont are leading the country’s delegation in the technical G20 meeting in Mexico, where they are expected to insist on the government’s criticisms against ‘vulture funds’ and credit rating agencies.

• Saturday, November 3rd 2012 - 04:20 UTC

  IMF top marks for Uruguay’s economy but beware of inflation and wage indexation

  

  An International Monetary Fund (IMF) mission headed by Ulric Erickson von Allmen visited Uruguay from October 22 to November 2 to conduct the country’s annual Article IV consultation. At the conclusion of the visit, Mr. Erickson von Allmen division chief in the IMF’s Western Hemisphere Department issued the following statement in Montevideo:

• Saturday, November 3rd 2012 - 04:03 UTC

  Bank of England governance ‘defective’ with ‘centralized and hierarchical’ structure

  

  Governance of the Bank of England is “defective”, according to the chairman of the Treasury Committee following the publication of three independent reviews into the Bank's performance. Andrew Tyrie said the reviews were too little, too late.

• Saturday, November 3rd 2012 - 03:44 UTC

  Peru considers rescuing debt to cool inflow of capital and currency appreciation

  

  Peru is considering the anticipated cancelling of public debt to drain ‘dollars’ from the market and impede the sustained appreciation of the local currency, Sol, said Economy minister Luis Castilla. This would be the first step for a new liabilities management approach to extend in time the maturing of Peruvian bonds and other debt papers.

• Friday, November 2nd 2012 - 23:07 UTC

  Falklands extends Rockhopper licences to evaluate further oil potential

  

  The Falkland Islands government has granted a one year extension for Rockhopper Exploration’s production licences PL023 and PL024. The licences, in which Rockhopper has a 40% interest, have been extended until November 2013, with no requirement for the operator to perform further work on the licences in that time.

• Friday, November 2nd 2012 - 08:28 UTC

  Drought in US farms is helping Brazil’s exports of corn and ethanol

  

  Brazil's trade ministry said the country's exports of corn and ethanol rose in October as foreign buyers turned to Brazil after the worst drought in 50 years ravaged US crops.

• Friday, November 2nd 2012 - 06:42 UTC

  Brazil tax-incentives for foreigners to develop local debt markets and finance ‘investment projects’

  

  Brazil granted a tax exemption to foreigners who buy mortgage-backed securities or invest in funds that purchase them after sales of new debt supported by real estate loans fell almost 50% this year.

• Friday, November 2nd 2012 - 06:36 UTC

  Dollar plunges against the Uruguayan Peso in October; massive inflow of capital

  

  The US dollar suffered in Uruguay during October its greatest fall since January 2009 following on the increase of the Central bank basic rate to 9% at the end of September, which turned Uruguayan bonds far more attractive for foreign investors.

• Friday, November 2nd 2012 - 06:33 UTC

  Uruguayan central bank indicator shows inflation is close to 11% in 12 months

  

  Uruguay’s central bank said that consumer prices, excluding the most volatile items, have increased almost 11% in the last twelve months to September. Fresh fruit and vegetables, cigarettes and public utility rates are considered ‘volatile prices’.

• Thursday, November 1st 2012 - 23:33 UTC

  Euro-scepticism spreading in the British political system

  

  Britain faces a crisis that could end with the world's sixth largest economy leaving the European Union, Deputy Prime Minister Nick Clegg warned ahead of a showdown over budget spending with other states in the 27-member bloc.