Economy

• Saturday, June 16th 2012 - 03:00 UTC

  Pitting the idea of growth against budgetary rigour is ‘simply rubbish’ says Merkel

  

  Germany's Angela Merkel regretted the lack of confidence among Euro leaders and warned against “mediocrity” as she stood firm against “growth quick fixes” to Europe's crisis.

• Friday, June 15th 2012 - 19:32 UTC

  Brazil economy continues anaemic; consumption boost expected in second half of 2012

  

  The Brazilian economy contracted in April for the first time on an annual basis since September 2009, reinforcing economists’ expectations that Latin America’s largest economy will slow for a second consecutive year.

• Friday, June 15th 2012 - 19:23 UTC

  Euro central banks prepared for any ‘Greek surprise’, anticipates Draghi

  

  The Euro zone economy faces serious risks and no inflation threat, European Central Bank President Mario Draghi said on Friday in comments that heightened expectations the ECB could cut interest rates or take other policy action soon.

• Friday, June 15th 2012 - 19:20 UTC

  Modest gains in world markets waiting for the Greece’s Sunday election

  

  US stock were modestly higher as optimism over a possible coordinated action by major world central banks if Sunday's Greek election causes financial turmoil was tempered by a weak reading on domestic manufacturing.

• Friday, June 15th 2012 - 19:16 UTC

  Euro-zone financial turmoil will have significant impact on global economy, says Fitch

  

  Fitch Ratings says a new round of adverse shocks centred on the Euro zone is slowing the fragile global economic recovery. In its latest quarterly Global Economic Outlook (GEO), Fitch forecasts real GDP growth of major advanced economies (MAE) to remain weak at 1.1% in 2012, before only a modest rebound to 1.7% in 2013 and 2.2% in 2014.

• Thursday, June 14th 2012 - 23:19 UTC

  US consumer prices fall 0.3% in May as petrol prices drop 6.8%

  

  US consumer prices fell by 0.3% in May, the biggest monthly fall in more than three years, due largely to a sharp drop in petrol prices. Petrol prices fell 6.8%, while food prices were unchanged, the Labour Department said.

• Thursday, June 14th 2012 - 23:08 UTC

  Merkel warns “Germany’s strength is not infinite” and there are “no miracle solutions”

  

  Chancellor Angela Merkel rebuffed pressure for Germany, Europe's most powerful economy, to underwrite debt or guarantee bank deposits in the euro zone.

• Thursday, June 14th 2012 - 11:19 UTC

  Indian delegation after investments and technology cooperation with Brazil

  

  India has invited companies from Brazil to invest in the country’s national infrastructure, manufacturing in Special Economic Zones and the food processing sector.

• Thursday, June 14th 2012 - 11:12 UTC

  Brazil announces 12bn dollars direct aid for state and city governments

  

  Anticipating further global market turmoil and ahead of October municipal elections, the Brazilian government will be announcing measures to prod the economy with direct support for states, cities and reversing corporate tax hikes, involving at least 25 billion Reais equivalent to 12 billion dollars.

• Thursday, June 14th 2012 - 10:49 UTC

  Shell drops plan to buy sugar cane grown on land taken from indigenous people

  

  Shell subsidiary that makes bio-diesel in Brazil has dropped controversial plans to buy sugar cane grown on land taken from indigenous people, according to Survival International.