Economy

• Wednesday, January 4th 2012 - 06:03 UTC

  Brazilian auto sales rose 2.9% to a record 3.4 million in 2011

  

  Brazilian auto sales rose 2.9% to a record 3.4 million units in 2011, compared with the previous year, the daily O Estado de S. Paulo reported Tuesday, quoting industry sources.

• Wednesday, January 4th 2012 - 05:45 UTC

  Russia approves 2012 import meat quotas: 530.000 tons of frozen beef

  

  The Russian government approved import quotas for meat in 2012, according to a resolution published on Tuesday, reports Meat Trade Daily.

• Wednesday, January 4th 2012 - 05:43 UTC

  FAO forecasts more food price volatility with more people at risk of hunger

  

  Food prices may ease in 2012 due to a slowing global economy, though no drastic drop from high levels is expected, the new director-general of the UN's Food and Agriculture Organisation said on Tuesday.

• Wednesday, January 4th 2012 - 05:27 UTC

  Greece admits it is closer to be forced out of the Euro zone

  

  Greece faces an exit from Europe's common currency block unless it clinches a deal on a second 130 billion Euro bailout with its international lenders, a government spokesman said on Tuesday.

• Wednesday, January 4th 2012 - 05:23 UTC

  German miracle, unemployment falls to its lowest since December 1991

  

  German unemployment fell to its lowest rate in December since 1991, according to the German Federal Labour Agency.

• Wednesday, January 4th 2012 - 05:20 UTC

  Petrobras announced discovery of light oil offshore Espirito Santo basin

  

  Petrobras has discovered light oil and gas accumulation in the Tambuata prospect in Brazil’s offshore Espirto Santo basin. Well 4-GLF-31-ESS was drilled in 1.520 metres water depth in the Golfinho Concession (4-BRSA-1001-ESS).

• Tuesday, January 3rd 2012 - 03:18 UTC

  Rousseff promises “to protect” Brazil’s economy, domestic market and jobs

  

  Brazil is moving into an ‘era of prosperity’ characterized by ‘income distribution and a notorious drop in inequalities” said President Dilma Rousseff in her first 2012 radio edition of ‘Enjoying coffee with the President’, where she also dared to use the word ‘protection’ in reference to jobs and the domestic market.

• Tuesday, January 3rd 2012 - 03:12 UTC

  Brazil trade surplus soars to 30bn, the highest since 2007

  

  Brazil's 2011 trade surplus soared 47.8% to nearly 30 billion dollars, compared with the previous year, the highest since 2007, with record exports and imports, official data showed Monday.

• Tuesday, January 3rd 2012 - 03:07 UTC

  Uruguay’s trade deficit increases fourfold in 2011 to 549 million dollars

  

  Uruguay’s trade deficit soared to 549 million dollars in 2011 because of an increase in imports of 23.6%, far ahead of exports rise, 18.1%, according to the Uruguayan government foreign trade institute Uruguay XXI.

• Monday, January 2nd 2012 - 21:59 UTC

  Spanish government confirms Euro zone fourth largest economy is in recession

  

  Spain’s economy is forecasted to contract in the first quarter of 2012 after shrinking in the previous six months admitted Economy Minister Luis de Guindos confirming analysts’ expectations that the Euro zone fourth largest economy is already in recession.