The World Trade Organization admitted Russia as its newest member on Friday, giving a boost to its biggest trading partner, the European Union.
Uruguayan President José ‘Pepe’ Mujica denied on Thursday afternoon suffering pressure from the Argentine government to restrict British ships from docking at Montevideo’s ports.
The World Trade Organization reached on Thursday a landmark reform on its Government Procurement Agreement, opening 100 billion dollars of government contracts to foreign competition and paving the way for more countries, including China, to join the pact.
The world economic outlook is quite gloomy and will require action by all countries, starting with those in Europe, to head off an escalating crisis that carries risks of a global depression, the head of the International Monetary Fund said on Thursday.
Fitch announced on Thursday it has downgraded the credit rating of six of the world’s largest banks. The banks include US’ Bank of America, British Barclays, and France’s BNP Paribas.
Foreign direct investment (FDI) in Brazil expanded fourfold between 2005 and last year, from 162.8 billion to 660.5 billion dollars, the country’s central bank said on Thursday.
Argentina’s economy expanded in the third quarter at the fastest pace since 2003, said President Cristina Fernandez on Thursday during a visit to a Toyota Motor Corp. plant in the province of Buenos Aires
Vice president Danilo Astori anticipated that in 2012 Uruguay will recover investment grade and said that including Uruguay in the OECD “grey list” was a “tremendous injustice” which did not take into account all the advances achieved in combating money laundering and narcotics trade.
Uruguay has banned the docking of Falklands/Malvinas flagged vessel in the port of Montevideo, following on complaints from Argentina that several fishing vessels with that flag, in recent months had been operating from Montevideo.
Brazilian industry saw 1.8% growth this year, well below expectations, and expansion will be limited to 2.3% in 2012 due to a global economic slowdown, a business group said this week.