Economy

• Wednesday, May 30th 2012 - 04:43 UTC

  If lucky at the end of the labyrinth, CFK might bless you with a few bucks

  

  The following is an instructive of the steps to follow in the labyrinth set up by the Argentine bureaucracy to have access to a limited amount of US dollars. The instructive should help clear some of the latest measures implemented by the administration of President Cristina Kirchner and was published on Tuesday by The Buenos Aires Herald and Ambito Financiero.

• Wednesday, May 30th 2012 - 04:30 UTC

  Argentines will have “to change their mentality and start thinking in Pesos”

  

  Argentine Senator Aníbal Fernández and Interior Minister Florencio Randazzo came on stage in defence of the new restrictions placed on the purchase of dollars by assuring “they are there to preserve the value of the currency,” and that further actions might be taken.

• Wednesday, May 30th 2012 - 04:06 UTC

  High wages and regulations making EU companies in China think twice

  

  One in five European companies operating in China may invest elsewhere in the future as wages are getting too high and regulations too cumbersome, according to a poll released Tuesday.

• Tuesday, May 29th 2012 - 17:41 UTC

  Indonesia stops US beef imports because of a mad cow case in California

  

  Indonesia has stopped imports of US beef, following a case of mad cow disease that was detected in California, reports Farming News Daily. Indonesia Agriculture Minister Suswono said the government had no time frame, but said the suspension applied to all beef shipped after April 24.

• Tuesday, May 29th 2012 - 04:02 UTC

  Spain calls on Europe for a show of force “to dissipate any doubts about the Euro”

  

  Spanish Prime Minister Mariano Rajoy called for a show of force from European authorities as his government sought ways to avoid tapping markets to fund the bailout of the nation’s third-biggest lender.

• Tuesday, May 29th 2012 - 00:14 UTC

  Dollar restrictions target money of ‘non-declared origin’ argues Argentine Senator

  

  Argentine Senator and former cabinet chief Anibal Fernandez strongly defended on Monday restrictions imposed by the government on dollar purchases arguing it would be “suicidal” to return to a flexible scheme which he insisted was implemented in defence of “the interests of Argentina”.

• Monday, May 28th 2012 - 23:12 UTC

  Mercosur raises maximum allowed tariff, 35% on 100 imported goods, says Brazil

  

  Brazil raised to the maximum the common external tariff, AEC, that Mercosur charges on imported goods from out of the zone. The decree was published in Monday’s edition of the Official Gazette and includes a hundred goods.

• Monday, May 28th 2012 - 19:56 UTC

  Santander denies plans to divest from Brazil; affiliate represents 30% of the group’s profits

  

  Spain’s leading bank Santander denied any plan to sell its Brazilian affiliate full or partly, as was published in the Sao Paulo media following discussions with Bradesco, another top listed Brazilian bank.

• Monday, May 28th 2012 - 19:16 UTC

  Spanish King on high profile PPRR visit to recover “lost time and ground” in South America

  

  Spain’s King Juan Carlos will be travelling to Brazil and Chile in the first week of June to strengthen ties with two strategic associates and in preparation of the Ibero-American summit to take place in Cadiz. The King will be accompanied by Foreign Affairs minister Jose Manuel Garcia-Margallo and a business delegation.

• Monday, May 28th 2012 - 17:10 UTC

  Brazil pressing banks to lower loan rates by 30% and increase lending

  

  Brazilian banks must lower their lending rates by between 30% and 40%, and increase lending, without raising fees, to help spur economic growth, Finance Minister Guido Mantega said in an interview with the Folha de Sao Paulo newspaper.