Economy

• Friday, August 3rd 2012 - 08:25 UTC

  Falkland Islands debates and prepares for the development of the oil industry

  

  A public debate on the future of the Falkland Islands in the face of income from oil exploitation is required rapidly, according to a Member of the elected Legislative Assembly.

• Friday, August 3rd 2012 - 08:06 UTC

  IMF calls for “policy game changer” in the Euro zone to arrest spread of debt crisis

  

  The IMF called on Thursday for a “policy game changer” in the Euro zone to arrest the spread of the debt crisis it now says is clearly engulfing the entire currency bloc and its smaller neighbours.

• Friday, August 3rd 2012 - 08:01 UTC

  ECB disappoints but keeps markets’ expectations of bold actions alive

  

  Asian shares and the Euro eased on Friday as the European Central Bank, as happened with the Federal Reserve on Wednesday, disappointed markets looking for an imminent move to deal with the Euro zone debt crisis.

• Friday, August 3rd 2012 - 07:57 UTC

  Bank of England waiting for the latest stimuli measures to filer into the economy

  

  The Bank of England has kept interest rates on hold for August, and also held off from any more stimulus measures, as had been expected. Its rate-setting Monetary Policy Committee (MPC) has voted to maintain rates at the historic low of 0.5%.

• Friday, August 3rd 2012 - 07:46 UTC

  State of emergency in south Peru to protect mining projects from guerrillas

  

  Peru’s government has extended a state of emergency for 60 days in several districts of south-central regions because of the presence of the guerrilla group Shining Path remnants.

• Friday, August 3rd 2012 - 07:10 UTC

  Bolivia seizes silver and indium mine operated by Canadian firm

  

  Confirming the growing trend in several South American countries, Bolivia expropriated a silver and indium mine operated by a local unit of Canadian firm South American Silver, a move criticized by Ottawa and likely to scare off foreign investors.

• Thursday, August 2nd 2012 - 22:57 UTC

  Argentina’s noose on Falklands: Buenos Aires province bans UK flagged vessels

  

  In what is seen as another step of Argentina’s noose-tightening of the Falkland Islands’ economy and development, the Buenos Aires Province Senate passed a law on Thursday banning British flagged vessels from calling at Argentina’s largest province ports.

• Thursday, August 2nd 2012 - 07:26 UTC

  Argentina admits slower economy; blames global crisis, drought and Brazil’s low growth

  

  Argentina acknowledged the slowing down of the economy as the result of the global crisis, prolonged drought and a lesser growth rate from Brazil, according to a report from the Central Bank released this week.

• Thursday, August 2nd 2012 - 07:20 UTC

  IMF praise for Brazil’s financial system but warns of home-grown risks

  

  Thanks to sound policies and built-in cushions, Brazil’s financial system weathered the global crisis that began in 2008 remarkably well, but now policymakers need to monitor for signs of home-grown financial trouble, the IMF said in its later report.

• Thursday, August 2nd 2012 - 07:04 UTC

  Massive capital outflow in Spain: €163 billion left in five months

  

  Capital outflows from Spain more than quadrupled in May to €41.3 billion compared with May 2011, according to figures released on Tuesday by the Spanish central bank. In the first five months of 2012, a total of €163 billion left the country, the figures indicate. During the same period a year earlier, Spain recorded a net inflow of €14.6 billion.