Economy

Saturday, April 7th 2012 - 07:29 UTC
Education absorbs 25% of the Falklands budget; students are funded to study in UK universities

Education is one of those intangible values that demand a huge percentage of the Falkland Islands budget, close to 25%, according to Jan Cheek, member of the elected Legislative Assembly and head of the education portfolio.
Saturday, April 7th 2012 - 07:18 UTC
US main ground beef processor files for bankruptcy following hamburger’ ‘pink slime’ controversy

US ground beef processor AFA Foods filed for bankruptcy protection this week and said it plans to sell some or all of its assets, citing the impact of media coverage related to a meat filler critics have dubbed “pink slime.”
Thursday, April 5th 2012 - 23:06 UTC
Argentina’s main grains export hub blocked by grounded vessel

Tens of cargo ships are delayed in Argentina because a grain-bulk carrier has grounded in the Parana River, 150 kilometres south of the city of Rosario, which is the country’s grains and oil seeds hub.
Thursday, April 5th 2012 - 17:07 UTC
Dragui confirms extraordinary long-term funding to financial system will continue

European Central Bank President Mario Draghi dismissed a German-led push for the bank to start planning a retreat from emergency crisis-fighting, but stressed it was keeping a close eye on price pressures.
Thursday, April 5th 2012 - 15:36 UTC
IMF warns world recovery is very fragile; policy makers should not become complacent

IMF Managing Director Christine Lagarde said the world economy is still in recession and the recovery remains fragile as she warned that, although some progress has been made, the global economic situation is not ideal yet. “We should not delude ourselves into a false sense of security,” she alerted.
Thursday, April 5th 2012 - 14:45 UTC
Green light for huge controversial hydroelectric project in Chilean Patagonia

Chile's Supreme Court Wednesday removed the last legal obstacle to building a giant 2.9 billion dollars hydroelectric complex in the Patagonian wilderness, rejecting a bid by environmentalists to block it.
Wednesday, April 4th 2012 - 08:42 UTC
Mujica will try and convince Brazil to open Mercosur to third countries

Uruguayan president Jose Mujica arrives Thursday in neighbouring Brazil to discuss with his peer Dilma Rousseff trade expansion, productive and energy complementation and above all opening Mercosur to third countries in search of new markets.
Wednesday, April 4th 2012 - 04:12 UTC
Argentina announced heavy fine for mobile phone provider that left 16 million clients out of service

The Argentine government said on Tuesday it will sanction heavily the local unit of Spanish Telecommunications Company Telefonica SA mobile phone service provider after a service disruption left more than 16 million clients without phone and data service for several hours.
Wednesday, April 4th 2012 - 04:08 UTC
China says emerging economies suffering from major capital inflows caused by US monetary policy

China’s central bank Governor Zhou Xiaochuan said the US Federal Reserve must consider responsibility of the global effects of its actions as emerging-market economies suffer from capital inflows.
Wednesday, April 4th 2012 - 04:04 UTC
Spain with no relief: record unemployment and soaring national debt

Spain says its national debt will spiral sharply higher this year as data showed unemployment hit a record high in March, complicating efforts to stabilise the country's strained finances.