Economy

Wednesday, December 28th 2011 - 03:27 UTC
US criticizes Japan for intervening to halt the rise of the Yen in the last 6 months

The US Treasury on Tuesday criticized Japan's interventions to halt the Yen's rise in the last six months, saying they were unnecessary and that Tokyo would do better to strengthen its domestic economy and competitiveness.
Wednesday, December 28th 2011 - 03:25 UTC
US calls for appreciation of the Yuan but falls short of labelling China a currency manipulator

United States announced it will press for further appreciation of the Yuan arguing the currency is undervalued, while declining to brand China a manipulator of its exchange rate.
Wednesday, December 28th 2011 - 01:13 UTC
Argentine president to undergo surgery for papillary thyroid cancer next week

Argentine president Cristina Fernandez has tested positive for papillary thyroid cancer and will undergo surgery next January 4. The Argentine leader will be taking a leave of absence until January 24th, announced on Tuesday the Executive spokesperson Alfredo Scoccimarro.
Tuesday, December 27th 2011 - 13:57 UTC
Argentine Media bill: “a dictatorship couldn’t have done it better”

The conservative and influential Brazilian newspaper O Estado de Sao Paulo in an editorial described the Argentine government as an “austral democradura” (authoritarian regime) which is sponsoring legislation “to terrorize the media”.
Tuesday, December 27th 2011 - 13:56 UTC
Brazil votes 2012 budget limiting civil servants salaries and pension increases

The Brazilian Congress approved next year's budget bill, rejecting wage increases for pensioners and public servants in a bid to contain spending as volatility advances in international markets.
Tuesday, December 27th 2011 - 13:54 UTC
Rousseff reiterates pledge to eliminate extreme poverty in Brazil by 2014

President Dilma Rousseff, about to complete her first year in office, reiterated she remains committed to eliminate extreme poverty in Brazil by the end of her term in 2013.
Tuesday, December 27th 2011 - 13:52 UTC
Cuba advances with capitalist reforms to install efficient market economy

Cuba will open up more of the country's retail services to the private sector next year, allowing Cubans to operate various services such as appliance and watch repair, and locksmith and carpentry shops, official media reported on Monday.
Tuesday, December 27th 2011 - 07:04 UTC
Chile confirms it supports Mercosur resolution barring Falklands’ flagged vessels

Chilean government Secretary General Andres Chadwick denied on Monday any official message from Britain or from Spain regarding Chilean support for the resolution that bars vessels flying the Malvinas flag from Mercosur ports, reports La Tercera from Santiago.
Monday, December 26th 2011 - 21:10 UTC
Brazil overtakes the UK and becomes the world’s sixth largest economy

Brazil has overtaken the UK as the world's sixth largest economy according to the Centre for Economics and Business Research, CEBR. The latest World Economic League Table also showed Asian countries moving up and European countries falling back.
Monday, December 26th 2011 - 21:08 UTC
“Grand principles don’t impress” IMF chief reminds the Euro zone leaders

The head of the International Monetary Fund said that the world economy was in danger and urged Europeans to speak with one voice on a debt crisis that has rattled the global financial system.