Economy

• Saturday, April 28th 2012 - 06:01 UTC

  Spain faces a “crisis of huge proportion” with “terrible figures”

  

  Spain's sickly economy faces a “crisis of huge proportions” said Foreign Minister Jose Manuel Garcia-Margallo as unemployment hit its highest level in two decades and Standard and Poor's weighed in with a two-notch downgrade of the government's debt.

• Saturday, April 28th 2012 - 05:41 UTC

  Forty countries worldwide celebrated Malbec Day, Argentina’s emblematic grape and wine

  

  Wine enthusiasts across the globe gathered to celebrate World Malbec Day, a great opportunity for novices and connoisseurs alike to sample some of Argentina’s flagship varietal.

• Saturday, April 28th 2012 - 05:26 UTC

  Brazil leading mining corporation reassessing its long term iron-ore reserves

  

  Brazilian leading mining company Vale SA is “facing one of the toughest periods in our history as far as reserves are concerned,” a company executive said Thursday.

• Friday, April 27th 2012 - 11:35 UTC

  Brazil's unemployment increased in March to 6.2% from February’s 5.7%

  

  Brazil's unemployment rate increased from the previous month in March, data released by statistical office IBGE showed Thursday.The unemployment rate increased to 6.2% in March from 5.7% in February. In March, 2011, the jobless rate was 6.5%.

• Friday, April 27th 2012 - 02:40 UTC

  Argentina appeals to 5.7bn dollars Central bank reserves to pay sovereign debt

  

  As was anticipated in the Argentine 2012 Budget the government is appealing to Central Bank reserves to pay sovereign debts. According to a resolution published in the Official Gazette, a Treasury bill equivalent to 5.674 billion dollars will be repaid to the bank in several instalments during ten years.

• Thursday, April 26th 2012 - 23:34 UTC

  Russia and Brazil main buyers of Paraguayan beef in spite of FMD

  

  Paraguay refrigerated beef exports to Brazil soared 202% during March compared to a year ago and is turning the giant neighbour into the main partner for the item replacing Chile, which ceased purchases following an outbreak of Foot and mouth disease a few months ago.

• Thursday, April 26th 2012 - 23:31 UTC

  Breeding bulls’ prices soar in US as ranchers rebuild cattle herd, smallest in 60 years

  

  Kramers Mandate, a majestic 13-month-old weighing nearly 590 kg, commanded the highest price for a breeding bull in the 44-year history of an annual auction in Illinois, Midwest US.

• Thursday, April 26th 2012 - 21:33 UTC

  Argentine Lower House discusses YPF bill; CFK should stamp it into law next week

  

  Committees of Argentina’s Lower House of Congress began a plenary session on Thursday in order to clear the YPF expropriation bill for debate, which was approved early morning by the Senate.

• Thursday, April 26th 2012 - 06:18 UTC

  IMF tells Latam good days are not forever and should rebuild ‘defence walls’

  

  The IMF warned Latin America on Wednesday that favourable economic conditions are not for ever and called on the region’s countries to “rebuild defences” ahead of an uncertain economic future.

• Thursday, April 26th 2012 - 06:10 UTC

  “Land grabbing” and the concentration process in Mercosur members

  

  The processes of concentration, foreign ownership and land degradation came to be a central concern of supranational bodies and NGOs that warn, like the United Nations Organizations for Food and Agriculture Organization (FAO), of the “negative effects of these phenomena on food security, agricultural employment and the development of family farming.”