Economy

• Wednesday, May 16th 2012 - 01:15 UTC

  Colombia/US free trade agreement expected to create 100.000 jobs per year

  

  The long-delayed free-trade deal between Colombia and the United States came into force on Tuesday, a step that should boost the country’s exports and foreign investment, President Juan Manuel Santos said.

• Wednesday, May 16th 2012 - 01:07 UTC

  Brazil planning to cut taxes on electricity to help reduce industry costs

  

  The Brazilian government has plans to cut and simplify taxes for electricity producers and distributors as part of a strategy to reduce Brazil's high business costs and stimulate its struggling economy, reports Reuters.

• Wednesday, May 16th 2012 - 01:03 UTC

  President Rousseff happy and supportive of the 2 dollars Real

  

  The Brazilian Real dropped past 2 per dollars for a second day as President Dilma Rousseff said it has been “extremely overvalued,” encouraging speculation the currency of Latin America’s biggest economy may fall further.

• Tuesday, May 15th 2012 - 16:08 UTC

  Greek exit from the Euro could cost French taxpayers 66.4bn Euros, says report

  

  An exit of Greece from the Euro zone could cost the French taxpayer up to 66.4 billion Euros and saddle the country's banking system with 20 billion Euros in lost loans, according to a study published on Tuesday.

• Tuesday, May 15th 2012 - 15:53 UTC

  Economy receives Hollande with anaemic performance: zero growth in Q1

  

  France's economy stalled in the first quarter as household consumption flat lined, businesses pared back investment and exports slowed, underlining the challenge facing Socialist President Francois Hollande who took office on Tuesday.

• Tuesday, May 15th 2012 - 08:30 UTC

  Hollande is sworn as French president and flies to talks with Merkel in Berlin

  

  Socialist Francois Hollande is to be sworn as France's president Tuesday before naming a prime minister and dashing to Germany to battle with Berlin over how to tackle Europe's debt crisis.

• Tuesday, May 15th 2012 - 02:30 UTC

  Brazil’s Real falls to 2 per dollar, lowest since 2009; government overwhelmed

  

  Brazil’s Real tumbled to 2 per dollar for the first time in almost three years as Finance Minister Guido Mantega said the exchange rate doesn’t worry the government, opening expectations the currency may fall further.

• Tuesday, May 15th 2012 - 00:52 UTC

  EU agrees to file a trade suit with WTO against Argentina’s import restrictions

  

  The European Union has agreed to file a trade suit against Argentina's import restrictions with the World Trade Organization (WTO), a senior Spanish government source said on Monday, reports Reuters.

• Monday, May 14th 2012 - 23:22 UTC

  Bio-fuels expert forecast Argentina will become EU main supplier in spite of Spain

  

  Bio-fuels expert Christopher Berg and head of F.O. Licht forecasted that Argentina this year will become the largest exporter of bio-diesel to the European Union in spite of the Spanish veto to imports in retaliation for the seizure of YPF.

• Monday, May 14th 2012 - 23:17 UTC

  Argentina writes to EU expressing “great concern” because of Spanish ban on bio-diesel

  

  The Argentine government expressed “great concern” on Monday following the decision from the Spanish government to ban bio-diesel “not produced within the European Union” from the country.