Economy

Monday, March 26th 2012 - 08:25 UTC
A majority of Brazilian (54%) joined the ranks of middle class in eight years

The number of Brazilians categorized as middle class has risen rapidly in recent years, climbing from 34% of the population in 2004 to 54% in 2011, according to a study released by consumer finance firm Cetelem BGN and the Ipsos research institute.
Monday, March 26th 2012 - 08:18 UTC
Argentine province of Salta joins the pack and revokes YPF oil concessions

As was anticipated yet another Argentine province, Salta, announced Sunday its decision to revoke a concession from Spanish held oil company YPF. The governor from the north-west province of Salta, Juan Manuel Uturbey, and a close ally of President Cristina Fernandez, announced his decision to revoke oil company YPF concession of the Tartagal Oeste area and his intention to include it in a list of areas that will be put out to tender.
Sunday, March 25th 2012 - 22:34 UTC
African swine fever out of control in areas of Russia, admit officials

The outbreak of African swine fever (ASF) has recently been reported at a hunting farm in Zamurovskoe, Volgograd region in the south of Russia, according to the representatives of the Regional Office of Rosselkhoznadzor.
Sunday, March 25th 2012 - 10:32 UTC
Italy fears about Spain; Madrid says: ‘total nonsense to make comparisons with Greece”

Italian Prime Minister Mario Monti expressed concern about Spain's public finances and said it would not take much to reignite the Euro zone debt crisis and revive the risk of it spreading to Italy.
Sunday, March 25th 2012 - 08:11 UTC
UK media and opposition claim spending on Falklands’ defense is to fall

The amount spent to protect the Falkland Islands is to fall according to reports in the British media however the Ministry of Defense attributes the changes to ‘accounting policy’ and insists it has the capacity to repel any Argentine aggression of the Islands.
Saturday, March 24th 2012 - 08:51 UTC
Uruguay’s economy slows in fourth quarter but expands a “very good” 5.7% in 2011

Uruguay’s economic growth slowed more than economists forecast in the fourth quarter as a refinery closure and the start of a drought trimmed a nine-year expansion; nevertheless the Central Bank said overall expansion in the twelve months of 2011 was “very good” in the current global context and just short of government’s target.
Saturday, March 24th 2012 - 08:35 UTC
Chinese manufacturing slumps for fifth month; Euro zone shows signs of recession

Chinese manufacturing slumped for a fifth month in March and the Euro zone economy is showing new signs of wilting, according to surveys revealed this week that pointed to weakening global demand.
Saturday, March 24th 2012 - 02:52 UTC
Argentina is facing serious trade problems and Brazil “must help in a mature way”

Argentina is having serious trade problems and Brazil “in a mature way” must try and help solve them said a top official from President Dilma Rousseff administration, who anticipated he would be travelling to Buenos Aires in coming weeks.
Saturday, March 24th 2012 - 02:31 UTC
US relation with Argentina souring: Congress to cut special trade benefits

The US administration of President Barack Obama is loosing its patience with Argentina and in coming days is expected to finalize special tariff benefits for certain Argentine exports.
Friday, March 23rd 2012 - 23:22 UTC
US nominates public health expert of South Korean origin for World Bank top job

The United States has nominated a public health expert of South Korean origin as its candidate for the World Bank presidency, a job emerging market economies are contesting for the first time.