Economy

• Monday, July 2nd 2012 - 06:19 UTC

  PM Cameron suggests referendum on UK’s conditions and EU membership

  

  British Prime minister David Cameron has indicated that a referendum on the United Kingdom’s conditions of European Union membership is increasingly likely, but ruled out one that offers voters a straight “in or out” choice.

• Monday, July 2nd 2012 - 05:56 UTC

  New World Bank president pledges to help emerging markets keep expanding

  

  Jim Yong Kim, who took over as World Bank president said his first task will be to help emerging markets keep expanding at a time of stress for the world economy.

• Monday, July 2nd 2012 - 05:43 UTC

  World’s largest brewer takes over Mexico’s Corona-Modelo group for 20.1bn

  

  Anheuser Busch InBev, the world's biggest brewer, is taking over Mexico's Grupo Modelo for 20.1 billion dollars giving it dominance in Latin America's second-largest economy and adding Corona, the top-selling imported beer in the United States, to its brands.

• Monday, July 2nd 2012 - 05:38 UTC

  Brazil extends cut breaks on home appliances to help boost consumption

  

  Brazilian government extended domestic tax breaks on home appliances and furniture, emphasizing efforts to help ailing Brazilian industries.

• Monday, July 2nd 2012 - 05:28 UTC

  Brazil’s Vale gets green light for largest ever iron ore mining project

  

  The world's number two mining company, Brazil’s Vale Doce said it received an environmental license to build its biggest-ever iron ore mine, an Amazon region project that holds about one trillion dollars of reserves at current prices.

• Saturday, June 30th 2012 - 05:39 UTC

  Mercosur doubles list of goods that can have tariffs raised unilaterally 35% by each member

  

  Mercosur rejected an Argentine proposal to raise imports tariffs on all goods from outer zone to protect local industries, but accepted Brazil’s initiative to raise tariffs unilaterally on 200 goods, up from 100 agreed last December.

• Saturday, June 30th 2012 - 05:25 UTC

  Relief in EU: German parliament approved Euro rescue fund and fiscal pact

  

  As expected, more than two-thirds of the lawmakers in Germany's parliament moved on Friday to approve the permanent Euro rescue fund, the European Stability Mechanism, and a fiscal pact long championed by Chancellor Angela Merkel.

• Saturday, June 30th 2012 - 05:19 UTC

  Brazil farmers rush to cash soy exports on high prices and favourable exchange rate

  

  Brazil could soon run out of soybeans to export this year after farmers’ frontloaded their shipments more than normal to cash in on high international prices and a favourable exchange rate.

• Saturday, June 30th 2012 - 04:37 UTC

  China prepares the ground for the Yuan to gradually become a reserve currency

  

  China will make part of the booming Shenzhen economic zone, a test ground for freer Yuan usage and capital account convertibility, the National Development and Reform Commission said on Friday.

• Saturday, June 30th 2012 - 03:52 UTC

  Mercosur ‘suspended’ Paraguay feels free to establish trade links with other countries

  

  President Federico Franco announced in a press conference that if Paraguay is suspended from Mercosur the country will feel free to look for other trade agreements and international relations.