Economy

• Wednesday, December 14th 2011 - 05:02 UTC

  Brazilian bus manufacturer expands into the Australian market

  

  Brazil’s Marco Polo one of the world’s largest manufacturers announced on Tuesday it had purchased a 75% stake in the Volgren Australia bus building industry an operation involving 53 million dollars.

• Wednesday, December 14th 2011 - 03:56 UTC

  Argentine November inflation 1.44% and 22.63% in eleven months, say lawmakers

  

  Argentine Lower House opposition lawmakers announced on Tuesday that inflation in November had reached 1.44%, accumulating so far this year, 22.63%. The so called ‘Congressional index’ is an average of the estimates from private consultants who face heavy fines if they make public their numbers.

• Wednesday, December 14th 2011 - 03:52 UTC

  Sony to manufacture notebooks in Tierra del Fuego

  

  Argentina’s Ministry of Industry announced Tuesday an investment of 30 million dollars for the manufacturing of mini-components, notebooks and LCD television sets in the province of Tierra del Fuego, extreme south of the country.

• Wednesday, December 14th 2011 - 03:45 UTC

  Brazil’s development bank helping finance wind energy farms

  

  Brazil’s development bank, Banco Nacional de Desenvolvimento Economico e Social, BNDES, will provide 1.8 billion Reais (966 million dollars) to finance wind farms as the renewable energy source dominates government auctions for new power capacity.

• Tuesday, December 13th 2011 - 23:39 UTC

  US prosecutors charge former Siemens executives for paying bribes in Argentina

  

  United States prosecutors charged eight former Siemens AG executives with paying 100 million dollars in bribes for more than a decade to Argentina officials to help win a one billion dollars contract to produce national identity cards.

• Tuesday, December 13th 2011 - 23:33 UTC

  Fed anticipates exceptional low level rates at least through mid 2013

  

  The Federal Reserve on Tuesday made no changes to its interest rate policy but left the door open for further monetary easing next year depending on the impact of strains in the global financial markets (Europe’s debt problems).

• Tuesday, December 13th 2011 - 22:27 UTC

  Chile leaves benchmark interest rate unchanged for sixth straight month: 5.25%

  

  Chile’s central bank kept its benchmark interest rate unchanged for the sixth straight month at 5.25%, as slowing global growth shows little sign of damping inflation and demand in the world’s biggest copper producer.

• Tuesday, December 13th 2011 - 21:00 UTC

  Advanced economies unemployment reaches 8.3%; Spain worst case with 22.8%

  

  Unemployment rates remain stubbornly high in the world's most advanced economies according to data released Tuesday by the Organization for Economic Cooperation and Development.

• Tuesday, December 13th 2011 - 16:08 UTC

  Rockhopper announces “fantastic result” with third oil discovery in Falklands

  

  Rockhopper Exploration PLC reported a “fantastic result” as its third discovery in the North Falkland basin encountered oil and-or wet gas in four hydrocarbon-bearing target zones, said the company on a Tuesday release in London.

• Tuesday, December 13th 2011 - 08:46 UTC

  Falklands oil exploration update

  

  Desire Petroleum plc (AIM:DES) the exploration company wholly focused on the North Falkland Basin notes the announcement made today by Rockhopper Exploration plc (“the Operator”) regarding the 14/15-4 well. Desire has a 40% carried interest in this well.