Economy

Saturday, December 31st 2011 - 18:28 UTC
“Fasten your seatbelts; it’s going to be a bumpy year!”

By Nouriel Roubini (*) - The outlook for the global economy in 2012 is clear, but it isn’t pretty: recession in Europe, anemic growth at best in the United States, and a sharp slowdown in China and in most emerging-market economies.
Friday, December 30th 2011 - 21:39 UTC
New Spanish government announces draconian measures to balance the budget

Spain's new government revealed on Friday that the public deficit for 2011 would come in at 8% of GDP, well above a target of 6%, and announced income and property tax hikes and a civil servant wage freeze in response.
Friday, December 30th 2011 - 21:22 UTC
Uruguay fearing inflation drastically rises basic rate 75 points to 8.75%

Uruguay’s central bank unexpectedly increased on Friday its benchmark interest rate by 75 points from 8% to 8.75%o as policy makers admit inflation, and mid term expectations remain notoriously over the target range and price stability is the main concern in “the current socio-economic context”.
Friday, December 30th 2011 - 06:36 UTC
Uruguay suggests changing to the red ensign for Falklands’ vessels to operate in Montevideo

No changes are needed in current legislation to bar vessels flying the Malvinas flag from entering Uruguayan ports, but Uruguay also speculates that if the vessels change to the English flag there will be no problems, according to a report from the Foreign Affairs ministry.
Thursday, December 29th 2011 - 22:59 UTC
Turkish economist named World Bank new Vice-President for Latin America

Hasan Tuluy, a Turkish national and a strong supporter of inclusive growth, will become the new World Bank Vice President for Latin America and the Caribbean (LAC) as of January 1st, 2012. Mr. Tuluy will oversee the Bank’s lending, knowledge, and poverty-fighting operations in the region, which totalled 9.6 billion dollars in fiscal year 2011.
Wednesday, December 28th 2011 - 03:58 UTC
Mexican telecoms giant planning to invest 5.4bn dollars in Brazil

The Brazilian subsidiaries of Mexican telecoms giant America Movil are planning 10 billion Reais (5.4 billion dollars) worth of new investment in 2012, Folha de São Paulo said on Tuesday.
Wednesday, December 28th 2011 - 03:41 UTC
Falklands have three options for a new deep water port

The location of a new deep water port for the Falkland Islands been narrowed down to three potential sites: Mare Harbour, Navy Point (north of the Camber) and Stanley harbour (FIPASS) it was confirmed at the Executive Council meeting last week following a discussion of the issue.
Wednesday, December 28th 2011 - 03:31 UTC
Madrid has first woman mayor; promises to bid for 2020 Olympic Games

Ana Botella, the wife of former Spanish Prime Minister Jose Maria Aznar, was sworn-in Tuesday as Madrid’s first woman mayor. She succeeds Alberto Ruiz-Gallardon, mayor of the capital since 2003, who resigned to serve as Justice Minister in the new Conservative government of Prime Minister Mariano Rajoy.
Wednesday, December 28th 2011 - 03:30 UTC
UK ambassador in Chile “concerned” with “economic blockade” on the Falklands

The British Ambassador to Chile, Jon Benjamin, expressed on Tuesday UK’s “concern” over “countries that have joined” the Mercosur bloc in their decision to support Argentina, by putting in place a ban on ships flying the Malvinas Islands’ flag from docking at their ports.
Wednesday, December 28th 2011 - 03:28 UTC
Chilean students end some school occupations but pledge to continue protests

Students have voted to end occupations at two of the most symbolic institutes of Chile’s public education system, but have vowed to continue demonstrations after months of protests have failed to achieve significant reforms to the country highly privatized, class based education system.