Economy

• Wednesday, January 25th 2012 - 07:39 UTC

  Falklands announces 2012 first collector coin: Life cycle of the butterfly

  

  The Treasury of the Falkland Islands Government announced the launch of their first collector coin for 2012, which features the Life Cycle of the Butterfly.

• Wednesday, January 25th 2012 - 07:37 UTC

  BMW plans to build cars in Brazil as of 2014

  

  Germany’s BMW Ag., the world’s largest luxury carmaker plans to build cars in the Brazilian state of Santa Catarina from 2014 reports Automobilewoche.

• Wednesday, January 25th 2012 - 04:21 UTC

  S&P likely to downgrade Greece’s rating to “selective default”

  

  Standard & Poor's will likely downgrade Greece's ratings to “selective default” when the country concludes its debt restructuring, but that will not necessarily destroy the credibility of the European Union, an official with the ratings agency said on Tuesday.

• Wednesday, January 25th 2012 - 04:06 UTC

  IMF warns Euro zone crisis is dragging down the world economy

  

  The Euro zone debt crisis is escalating and dragging down the world economy, the International Monetary Fund said on Tuesday, as it sharply cut its outlook for global growth and called for policies to restore confidence.

• Wednesday, January 25th 2012 - 03:58 UTC

  Brazil record foreign direct investment more than compensates current account deficit

  

  Brazil posted a record-high current account deficit in 2011 on rising profit remittances by multinational companies and massive spending abroad by Brazilian tourists, but the deficit was more than covered by another record, this time for foreign direct investment, the central bank said Tuesday.

• Tuesday, January 24th 2012 - 04:08 UTC

  Argentina rams ahead with imports rules: “it is understandable people are upset”

  

  The Argentine government ratified it won’t postpone the new legislation on imports as requested by local business leaders and minimized the current conflict with Brazilian industrialists who have bitterly complained about the new restrictions.

• Tuesday, January 24th 2012 - 04:05 UTC

  Uruguay expanded 6% in 2011 and fiscal deficit dropped to 0.8% of GDP

  

  Finance Minister Fernando Lorenzo said that Uruguay’s economy in 2011 expanded an estimated 6%, the ninth year running of sustained growth, and the budget fiscal deficit was 0.8% of GDP.

• Monday, January 23rd 2012 - 23:44 UTC

  Greece publishes “shame” list of tax evaders, totaling 14.8 billion Euros

  

  The Greek government published a list of the country’s worst tax evaders on Sunday, after months of warning those same evaders to pay up or risk being named and shamed.

• Monday, January 23rd 2012 - 23:39 UTC

  EU joins US: bans oil imports from Iran and imposes further economic sanctions

  

  The European Union banned imports of oil from Iran on Monday and imposed a number of other economic sanctions, joining the United States in a new round of measures aimed at deflecting Tehran’s nuclear development program.

• Monday, January 23rd 2012 - 23:36 UTC

  IMF and Germany can’t agree on road map for Euro zone rescue

  

  IMF chief Christine Lagarde urged on Monday European governments to increase their financial firewall to prevent Greece’s troubles from ensnaring bigger countries like Italy and Spain.