Economy

• Monday, April 2nd 2012 - 05:24 UTC

  Argentina sends warning letters to banks supporting Falklands’ oil industry

  

  As many as 15 British and US banks have received warning letters by the Argentine embassy in London about possible legal action over giving advice or even writing research reports about companies involved in the Falkland Islands' nascent oil industry, London’s Sunday Telegraph said.

• Sunday, April 1st 2012 - 08:45 UTC

  Sanctions on Iran force Uruguay to propose Teheran rice for oil barter deal

  

  Uruguay will consult with Iran the possibility of exporting rice in exchange for oil, the government of President Jose Mujica said on Friday.

• Sunday, April 1st 2012 - 08:28 UTC

  Rootyling for cash, the central bank has become Argentina’s Piggy bank

  

  The Economist argues that with the latest legislation, the Argentine central bank has lost its legal independence and become the piggy bank of President Cristina Fernandez government.

• Sunday, April 1st 2012 - 08:24 UTC

  Euro-zone builds firewall but calls for bigger global financial emergency fund

  

  European governments called for a bigger global financial emergency fund after engineering a firewall to fight the region’s debt crisis that tops the symbolic 1 trillion dollars mark.

• Sunday, April 1st 2012 - 08:13 UTC

  Brazil considering tax breaks and higher tariffs to help struggling industries

  

  Brazil will extend a payroll tax break to some manufacturers as part of a package of new measures to help struggling industries in a move to help the recovery of Latin America's top economy, a senior government source revealed to the local media.

• Sunday, April 1st 2012 - 08:02 UTC

  Argentina targets Mexican car imports and considers revoking trade agreement

  

  Argentina is considering applying measures to restrict the import of Mexican cars, which could include unilaterally denouncing the Economic Complementation Agreement (ACE) 55, which regulates bilateral trade, Argentine government sources told local media, ámbito.com.

• Sunday, April 1st 2012 - 07:58 UTC

  Oil leaks cast a shadow over the development of Brazil’s offshore huge reserves

  

  Brazilian authorities identified a small oil leak off the shores of Rio de Janeiro on Saturday, the latest in a series of spills that has raised safety concerns over the development of some of the world's largest petroleum reserves.

• Saturday, March 31st 2012 - 06:41 UTC

  Argentina rejects WTO members’ criticisms; confirms ‘sovereign trade policies’

  

  The Argentine government ratified its trade policies before the World Trade Organization, following the criticism of Argentine trade restrictions from twelve countries, including the US, EU and Japan, and assured it will continue to decide on its trade policies in a sovereign manner.

• Saturday, March 31st 2012 - 06:17 UTC

  Uruguay reveals the existence of an “Argentina 2020: imports substitution” plan

  

  Uruguay’ Foreign Affairs Minister Luis Almagro revealed that the government of President Cristina Fernandez is fully involved in the implementation of a plan called “Argentina 2020: substitution of imports” and therefore bilateral trade negotiations that are difficult, will continue on that same path for several years.

• Saturday, March 31st 2012 - 01:08 UTC

  US/Uruguay free trade accord, among priorities of new ambassador in Montevideo

  

  The new US ambassador in Uruguay, confirmed this week by the US Senate, expects to hold contacts with Uruguayan authorities to promote and negotiate a free trade agreement.