Economy

Tuesday, June 5th 2012 - 23:22 UTC
G7 members agree to work together to deal with Spain’s financing problems

The Group of Seven finance chiefs agreed in a teleconference call to work together to deal with the problems hitting Spain and Greece, Japanese Finance Minister Jun Azumi said on Tuesday.
Tuesday, June 5th 2012 - 20:03 UTC
Uruguay’s inflation kept climbing in May reaching an annualized 8.06%

Uruguay’s inflation climbed in May to an annualized 8.06% the highest so far this year, according to the Statistics Office release on Tuesday. In May consumer prices were up 0.39% over April accumulating 3.82% in the first five months of the year, which makes the annual target of 4% to 6% hard to achieve.
Tuesday, June 5th 2012 - 07:58 UTC
New car sales balloon and housing market stalls with Argentina’s “clamped dollar”

Trading in the Argentine money exchange market on Monday was relatively calm with very few operations in the so called ‘blue’ or ‘parallel’ dollar but with none of the expectations announced by members from President Cristina Fernandez administration.
Tuesday, June 5th 2012 - 07:46 UTC
Canada and US closely monitoring Uruguay’s flag air carrier in the brink of default

The governments of Canada and the US are “concerned” and “closely following” events in Uruguay’s flag air carrier Pluna since banks and an investment fund from the two countries are heavily involved in the running of the money-loosing company is spite of repeated financial support from the Uruguayan government.
Tuesday, June 5th 2012 - 03:04 UTC
Major Canadian uranium mining company leaves Argentina fearful of populist policies

Another Canadian miner has pulled back from investing in Argentina fearful of the latest moves from a growingly populist government and not so clear rules for the mining industry.
Monday, June 4th 2012 - 22:38 UTC
Bright side of the Puyehue eruption: volcanic ash bricks and natural insecticides

Argentine scientists developed bricks and are analyzing the possibility of making natural insecticides with the ashes from the Chilean Puyehue volcano eruption which this month a year ago covered several cities in Patagonia and caused millions of dollars losses, sources of the University that coordinates the studies announced.
Monday, June 4th 2012 - 22:30 UTC
Argentina accepts consultation with EU on trade restrictions and also drags Falklands’ to the dispute

Argentina announced on Monday it had accepted the request from the European Union for a round of consultations, before the World Trade Organization, on the country’s controversial trade policies, but at the same time rejected all and every one of the questioned points and dragged the Falklands’ dispute into the fray.
Monday, June 4th 2012 - 07:29 UTC
Argentine government wants to regulate the black market for US dollars

Senator and former cabinet chief Aníbal Fernández said on Sunday that the Argentine government is planning, from the open of the black market on Monday, to put pressure on money exchange traders in order for the ‘blue’ dollar rate to not go over 5.10 Argentine Pesos.
Monday, June 4th 2012 - 06:31 UTC
Argentine will issue bills with the likeness of the iconic Evita Peron

Argentina is planning to issue bills bearing the likeness of Evita Duarte to mark the sixtieth anniversary on July 26th of the death of the wife of three times president Juan Domingo Peron, according to the Buenos Aires media.
Monday, June 4th 2012 - 04:13 UTC
Fitch: Chile, Peru best prepared for downturn of global economy; Argentina and Venezuela most vulnerable

Chile and Peru are best positioned in Latin America to withstand a downturn in the global economy and a drop in commodity prices, while Argentina and Venezuela are the most vulnerable to any turmoil, according to a senior official from Fitch Ratings.