Economy

• Thursday, August 23rd 2012 - 06:31 UTC

  Argentina/US trade conflict escalates following Argüello claims and strong reply from Washington

  

  The current war of words over trade barriers going on between the US and Argentina further escalated tensions on Wednesday as Argentine Ambassador to the US Jorge Argüello highlighted: “the United States has been reported for a number of trade law violations.”

• Thursday, August 23rd 2012 - 06:24 UTC

  Animal welfare demand inquiry into death of 400 pregnant heifers en route to Russia

  

  The Animal Welfare Institute (AWI) and Compassion in World Farming are calling on the US Department of Agriculture (USDA) to take immediate action following reports that 400 pregnant cattle among a total of 3,900 cattle being transported by ship from the United States to Russia have died en route.

• Thursday, August 23rd 2012 - 06:14 UTC

  Chile’s 2013 budget based on 5% growth and copper at 3.06 dollars the pound

  

  Chile is planning a 2013 budget with a tendency growth of 5% and an average long term basic copper price of 3.06 dollars the pound revealed finance minister Felipe Larraín together with Rosanna Costa, head of the Budget Office during a presentation before Congress.

• Thursday, August 23rd 2012 - 05:59 UTC

  Investors wanting safe parking for their money buy 0% German bonds

  

  Germany got bids for 6.24 billion Euros of two-year notes at an auction Wednesday exceeding its 5 billion-Euro maximum sales target, according to a statement from the Bundesbank.

• Thursday, August 23rd 2012 - 05:52 UTC

  Global confidence index for next twelve months at its gloomiest in five quarters

  

  Confidence in the state of the world economy over the next 12 months fell to the lowest level in five quarters, according to the Global Confidence Index prepared by the World Economic Forum.

• Thursday, August 23rd 2012 - 05:33 UTC

  A billion dollars trade surplus for Argentina in July; Mercosur main partner

  

  Argentina’s trade surplus reached 1.014 billion dollars in July, which is 54% higher than the same month a year ago. Exports totalled 7.4 billion and imports 6.37bn according to the latest release from the official stats office, Indec.

• Thursday, August 23rd 2012 - 01:46 UTC

  Argentine government economists agree the Peso in over-valued and hurts non primary exports

  

  Three Argentine economists, particularly close to the government of President Cristina Fernandez have admitted that the Argentine Peso is overvalued and is causing problems for non commodity exports which need to be addressed.

• Thursday, August 23rd 2012 - 01:38 UTC

  US Congress budget office warns “fiscal cliff” is already holding back the economy

  

  The US Congress budget office launched on Wednesday a stern warning: massive spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution.

• Thursday, August 23rd 2012 - 01:33 UTC

  The US Fed considering round of monetary stimulus “fairly soon”

  

  The Federal Reserve is likely to deliver another round of monetary stimulus “fairly soon” unless the economy improves considerably, minutes from the US central bank's August meeting show.

• Thursday, August 23rd 2012 - 01:27 UTC

  Russia joins WTO after for 18 years; Putin plans greater global role for Moscow

  

  Russia's formally joined on Wednesday 22 August the World Trade Organization after having waited for 18 years. On July 21, President Vladimir Putin signed the final accession document approved by all WTO countries, a final step clearing the way for Wednesday’s formal entry.