Economy

• Friday, February 10th 2012 - 18:03 UTC

  Argentina backs Uruguay trade delegation to Falklands: “we’re not for the blockade”

  

  The Argentine government sees with good eyes that a Uruguayan trade delegation travelled to the Falklands/Malvinas in spite of the ‘dialectic conflict’ with the UK over the sovereignty of the Islands, said the Argentine ambassador in Montevideo, Dante Dovena.

• Friday, February 10th 2012 - 00:47 UTC

  Spanish government to unveil drastic reforms to rigid labour legislation

  

  Spain's government will unveil reforms to rigid labour laws on Friday that it hopes will be radical enough to get to grips with sky-high unemployment while not severing links altogether with unions ahead of key regional elections.

• Thursday, February 9th 2012 - 23:43 UTC

  Obama/banks mortgage-deal to rescue US doomed and struggling homeowners

  

  President Barack Obama administration and top US mortgage lenders unveiled a landmark 25 billion dollars deal Thursday to help struggling homeowners get back on their feet and to reignite the moribund housing market.

• Thursday, February 9th 2012 - 23:17 UTC

  Mujica says Mercosur is “a chewing gum”; promises trade deals with third countries

  

  Mercosur from a real point of view exits, but institutionally it’s a “chewing gum” claimed Uruguayan president Jose Mujica who anticipated he would demand from the block’s partners that Uruguay be allowed to sign bilateral trade agreements with third parties.

• Thursday, February 9th 2012 - 20:30 UTC

  Euro zone rate left unchanged; all eyes set on how to save Greece from default

  

  The European Central Bank kept interest rates on hold on Thursday and altered its assessment of risks to the economic outlook as investors focus on the ECB possible role in helping Greece avoid default.

• Thursday, February 9th 2012 - 20:25 UTC

  Bank of England pumps an extra £ 50bn to boost the UK economy

  

  Bank of England has agreed to extend its quantitative easing (QE) program by £50bn to give a further boost to the UK economy. When completed, it will bring the total amount of QE stimulus to £325bn.

• Thursday, February 9th 2012 - 07:47 UTC

  Trade restrictions, main point of agenda when Cristina Fernandez visits Chile

  

  Santiago media reports increasing disappointment in the Chilean government and private sector with the latest batch of Argentine measures to restrict imports and want the issue ‘top of the agenda’ when President Cristina Fernandez visits Chile at the end of the month.

• Thursday, February 9th 2012 - 07:44 UTC

  Argentina limits daily financial transaction per person to 1.000 Pesos (230 dollars)

  

  Argentina limited the use of cash in the country’s financial markets as President Cristina Fernandez tightens oversight of currency transactions to help contain capital flight and prepare for what is anticipated a ‘difficult’ year for the Treasury and the Argentine economy.

• Thursday, February 9th 2012 - 07:40 UTC

  Argentine ‘Congress index’ shows January inflation reached 1.9%

  

  Argentine congress members announced on Wednesday that the inflation index for January based on an average of private sector estimates reached 1.9%, similar to the previous month of December.

• Thursday, February 9th 2012 - 07:37 UTC

  Argentina has the (Central bank) cash to take over YPF, says Barclays Capital

  

  Argentina has the cash reserves to make a tender offer for Repsol-YPF SA local unit, the country’s largest energy company, and will likely put further pressure on the industry to boost output, has stated Barclays Capital.