Economy

• Wednesday, February 1st 2012 - 06:41 UTC

  Shanghai targets to become a global financial centre by 2015

  

  China’s bustling Shanghai is striving to become a global financial centre by establishing its leading position in the trading of Yuan-denominated financial products, according to a state plan, said authorities of Shanghai financial services on Tuesday.

• Wednesday, February 1st 2012 - 06:34 UTC

  Canadian mining company says it wants a “social licence” for controversial project in Argentina

  

  The Canadian Osisko mining corporation has suspended a gold mining project in Argentina after protests by locals. Osisko said on Tuesday it would put its operation in north-western La Rioja province on hold if it did not get the backing of the local population which has been protesting for weeks.

• Wednesday, February 1st 2012 - 06:24 UTC

  Brazil’s December industrial production brings hope after a dismal 0.3% for 2011

  

  Rising output at Brazil's factories and mines in December, following a dismal 2011 performance, should help activity in 2012 as falling interest rates and rising investment help sustain growth in Latin America's largest economy

• Tuesday, January 31st 2012 - 23:57 UTC

  Brazil/Arab world trade soared more than 28% in 2011, reaching 25.13bn dollars

  

  Brazil's trade with the Arab world soared more than 28% in 2011 to reach 25.13 billion dollars and is expected to grow a further 15%t this year, the Arab Brazilian Chamber of Commerce said on Tuesday.

• Tuesday, January 31st 2012 - 23:51 UTC

  China bars Brazil’s bulk carriers from its ports; clash over iron ore shipping rates

  

  China banned a giant new class of ship from its ports on Tuesday, a move that checks efforts by mining giant Vale SA to cut the cost of shipping iron ore to its largest market and risks raising trade tensions with Brazil.

• Tuesday, January 31st 2012 - 17:39 UTC

  Chile almost close to “full employment”; shortage of manpower in some sectors

  

  Chile’s unemployment rate unexpectedly declined in the three months through December to 6.6% from 7.1% as the retail, mining and construction industries expanded, the National Statistics Institute said on Tuesday. The situation according to economists is close to “full employment”.

• Tuesday, January 31st 2012 - 17:35 UTC

  Euro zone unemployment climbs to highest level since 1998

  

  Euro zone unemployment has risen to its highest level since before the Euro was introduced, according to data showed on Tuesday, a day after EU leaders promised to focus on creating millions of new jobs to try to kick start Europe's floundering economy.

• Tuesday, January 31st 2012 - 13:55 UTC

  Falklands’ government advances in options for a proposed new port facility

  

  A paper relating to further work on options for the proposed new port facility for the Falkland Islands was presented to the latest Executive Council Meeting by the Falkland Islands Government Projects Director.

• Tuesday, January 31st 2012 - 05:32 UTC

  Uruguay industry accuses Argentina of systematically blocking exports

  

  The Uruguayan industrial sector warned that certain members of the Mercosur “are failing to fulfil their obligations” and targeted Argentina directly by pointing out that the new trade regulations set by the local Government “are hurting production” in the neighbouring country.

• Tuesday, January 31st 2012 - 05:27 UTC

  EU agrees permanent rescue fund and 25 member back German budget discipline pact

  

  European leaders agreed on a permanent rescue fund for the Euro zone on Monday and 25 out of 27 EU states backed a German-inspired pact for stricter budget discipline, but they struggled to reconcile fiscal austerity with economic growth.