Economy

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.
Thursday, August 23rd 2012 - 00:58 UTC
Chavez pledges 130bn investment to boost oil production to 6 million bpd by 2019

Some 130 billion dollars will be invested in Venezuela's Orinoco Oil Belt between 2013 and 2019 to boost national production from 3 million barrels per day to 6 million bpd, President Hugo Chavez announced on Tuesday evening.
Thursday, August 23rd 2012 - 00:50 UTC
Where’s the cheapest to ‘fill her up’? Venezuela: 12.8 US cents a liter of petrol

Venezuela, the latest entry as full member of Mercosur has the cheapest petrol price in the world, 8 pennies per liter, (1 £ trading at 1.59 dollars on 22 August) according to the latest report from UK website, “This is money”, based on a research from Evans Halshaw.
Wednesday, August 22nd 2012 - 05:24 UTC
UN: Latam 20% richest earn on average 20 times more than the 20% poorest

The gap is widening between the rich and poor in much of Latin America which is the world’s most economically unequal and its most urbanized region, the UN said Tuesday. The richest 20% of the population now earn on average nearly 20 times more than the 20% poorest, a study by the UN Human Settlements Program (UN-HABITAT) found.
Wednesday, August 22nd 2012 - 05:20 UTC
Brazil despite its economic success remains one of the inequality champions

Brazil might be the leading economy in Latin America and has had a significant performance in reducing poverty in recent years, but it still remains among the countries with he highest inequality in the region together with Guatemala, Honduras and Colombia, points out the UN-Habitar report.
Wednesday, August 22nd 2012 - 05:12 UTC
Argentina consumers’ 12-month inflation expectations reach 39.8%

Argentine consumers’ inflation expectations for the next twelve months reached a record of 39.8% climbing for the third month running, according to the latest release from the University of Torcuato Di Tella.
Wednesday, August 22nd 2012 - 05:07 UTC
Lawmaker rejects idea of ‘Kirchnerite era’ end if CFK is not re-elected in 2015

Argentine lawmaker and close counsellor of President Cristina Fernandez Carlos Kunkel rejected on Tuesday the idea that the ‘Kichnerite era’ could end if President Cristina Fernández is not re-elected in 2015 presidential elections as has been suggested by some of her followers and the opposition.
Tuesday, August 21st 2012 - 22:49 UTC
Argentina hits back at US and will complain in WTO trade barriers on meats and lemons

The Argentine Foreign Ministry on Tuesday hit back at the United States amid various trade barrier complaints and allegations of illegality saying that it would report the country for violating the World Trade Organization’s (WTO) rules for stopping imports of Argentine meat and citrus fruits to the US.
Tuesday, August 21st 2012 - 22:08 UTC
Peru to punish “negationism”, denying a past of killings and destruction by terrorist gangs

The Peruvian government announced that it will be sending Congress a bill that punishes the negation of the terrorist violence suffered by the country during the last decades of the last century. The bill against “negationism” is in ‘support of democracy and a unified front against terrorism’ which is still active in some parts of the country in alliance with the drug lords.
Tuesday, August 21st 2012 - 22:01 UTC
Brazil with the lowest performance in the first half of 2012 among BRIC countries

Russian GDP growth in percentage terms surpassed Brazil in the first half of the year and even if the market still prefers Brazil’s diverse economy over Russia, the South American country is now dead last in terms of economic growth in the big four emerging markets, BRIC.