Economy

• Wednesday, May 9th 2012 - 19:14 UTC

  India’s ambitious project to mine 20bn tons of iron ore in Bolivia at risk

  

  India’s Jinda Steel & Power's ambitious Bolivian project to mine 20 billion tons of iron ore is at risk after the Bolivian government encashed yet another 18-million dollars bank guarantee from the Indian firm for not meeting contractual terms.

• Wednesday, May 9th 2012 - 18:18 UTC

  Spain to unveil on Friday plan to clean up exposed banks to the property crash

  

  Spanish shares have fallen and the interest rate on the country's benchmark 10-year bond has risen amid fresh worries over the banking sector. The Ibex market fell by 3% and bond yields rose above 6%, a level seen as unsustainable.

• Wednesday, May 9th 2012 - 08:15 UTC

  Brazil ready to boost trade with Argentina but demands “compromise” on lowering barriers

  

  The potential to treble imports from Argentina in a few years was underlined by Brazilian manufacturers but there must be a “compromise of reciprocity” to lower trade barriers since currently “we known they are higher on the Argentine side”.

• Wednesday, May 9th 2012 - 08:07 UTC

  Argentina, the outcast

  

  By Luis Felipe Lampreia (*) - The following piece is a picture of recent events in Argentina from a historic reference and enumerates the obstacles the country faces in developing its own hydrocarbons following the seizure of YPF from Spain’s Repsol

• Wednesday, May 9th 2012 - 08:01 UTC

  Spanish bank forecasts average growth of 4% for Argentina and the region in 2012

  

  The Argentine economy is set to grow 4% this year in line with the rest of the countries of the region according to a report, “Global Situation” from the Spanish-Argentine bank BBVA-Francés.

• Wednesday, May 9th 2012 - 07:50 UTC

  Gold becomes Peru’s main export item in the first quarter of 2012

  

  Peruvian gold sales totalled 2.57 billion dollars in the first quarter of this year, making the commodity the country’s top export, the National Mining, Petroleum and Energy Society, SNMPE, announced.

• Wednesday, May 9th 2012 - 07:39 UTC

  Argentina slaps huge fine on Spanish mobile phone service

  

  Argentina has fined Telefonica 43 million dollars for a mobile phone service interruption last month, which threatens to further exacerbate tensions between the two countries.

• Tuesday, May 8th 2012 - 22:37 UTC

  China buying oil from Iran using the Yuan, reveals Teheran ambassador in UAE

  

  China is buying crude oil from Iran using its currency the Yuan, an Iranian diplomat has said. Oil transactions are usually settled in dollars but US sanctions make it difficult for Iran to accept payments in the US currency.

• Tuesday, May 8th 2012 - 17:17 UTC

  Brazil’s Rousseff sees in Hollande an ally to counter Merkel’s austerity policies

  

  Dilma Rousseff is interested in having French elected-president Francois Holland make an official visit to Brasilia to talk about the current world situation since the Brazilian leader believes they both share positions regarding the global crisis and austerity policies.

• Tuesday, May 8th 2012 - 16:53 UTC

  Chile’s inflation slowed to its lowest level in seven months in April

  

  Chile's consumer price inflation slowed to the lowest level in seven months in April, data released by the National Institute of Statistics showed on Tuesday.