Economy

• Monday, June 25th 2012 - 07:07 UTC

  Wen Jiabao confirms Mercosur interest; Uruguay’s deep sea port blueprints to be sent to Beijing

  

  A memorandum of understanding with Mercosur and a deep sea port to the east of Uruguay were two of the main issues addressed by visiting Chinese PM Wen Jiabao with President Jose Mujica revealed the Executive Deputy Secretary.

• Monday, June 25th 2012 - 06:43 UTC

  Argentina waiting for Obama administration to help balance bilateral trade

  

  Ambassador in Washington Jorge Argüello said that the Argentine Government is concerned with the deficit increase in bilateral trade with the US and is waiting for Barack Obama administration actions to increase the purchase of Argentine goods.

• Sunday, June 24th 2012 - 15:02 UTC

  Lan and Tam complete merger to become world’s second largest airline by market value

  

  Chile's LAN Airlines completed a takeover of Brazilian rival TAM on Friday, creating the world's second-largest airline by market value in a deal that executives expect to yield up to 700 million dollars in costs savings within four years.

• Sunday, June 24th 2012 - 14:51 UTC

  Leading Russian and Brazilian investment banks establish strategic alliance

  

  Russian investment bank VTB Capital and Brazilian peer BTG Pactual, two of the fastest-growing emerging market challengers to more established US and European rivals, are joining forces to help them to expand further.

• Sunday, June 24th 2012 - 14:49 UTC

  Brazilian grain quality-control equipment manufacturer opens office in Winnipeg

  

  Motomco Group of Brazil, a manufacturer of grain quality-control products, is opening a Canadian operation called Canada Moisture Analyzers in Winnipeg this summer. The shop will handle sales and service for its products, which measure moisture content in grain in North America.

• Sunday, June 24th 2012 - 03:21 UTC

  Cristina Fernandez receives Wen Jiabao with a long list of requests

  

  Chinese Premier Wen Jiabao arrived in Argentina Saturday on an official visit aimed at boosting trade with one of South America's top agricultural producers.

• Sunday, June 24th 2012 - 02:54 UTC

  Argentine nervous savers withdrew 522 million dollars in the last week

  

  The outflow of foreign-currency deposits from Argentina's banking system showed no sign of slowing last week, as nervous savers withdrew 522 million dollars from bank accounts.

• Sunday, June 24th 2012 - 02:49 UTC

  Brazil raises fuel prices for the first time since 2008, effective next Monday

  

  Brazil's state managed oil company Petrobras said it will raise gasoline and diesel prices for the first time since 2008, a move aimed at ending refining losses and paying for the world's largest corporate spending plan.

• Sunday, June 24th 2012 - 02:46 UTC

  Brazil’s May current account deficit reached 3.4 billion dollars

  

  Brazil posted a current account deficit of 3.468 billion dollars in May, central bank data showed on Friday, in line with analysts' expectations and less than the previous month's gap. Brazil's current account deficit in April was 5.4 billion, the central bank said last month.

• Saturday, June 23rd 2012 - 07:53 UTC

  US demands Argentina “immediately” ends the import licensing regime

  

  The United States demanded on Friday that Argentina “immediately” end an import licensing regime and other curbs that have frustrated foreign suppliers while also expressing concerns about a “sweeping new import restriction” that Indonesia has imposed.