Economy

• Friday, January 13th 2012 - 19:51 UTC

  Obama asks Congress for a 1.2 trillion dollars increase in US debt limit

  

  US President Barack Obama formally notified Congress that he plans a 1.2 trillion dollars increase in the US debt limit, setting the stage for Republicans to level election-year charges that deficits are out of control.

• Friday, January 13th 2012 - 14:48 UTC

  Falklands plans to export 30.000 lambs this season from upgraded abattoir

  

  The Falkland Islands Meat Company (FIMCo) may export up to 30,000 lambs in the coming season compared to 26,000 last year in an abattoir successfully upgraded by local companies, reports the Penguin News in this week’s edition.

• Thursday, January 12th 2012 - 21:52 UTC

  FAO Food prices index in spite of mild drop, reached highest average in 2011

  

  Food prices fell in December 2011 with the FAO Food Price Index dropping 2.4%, or five points from November, FAO said on Thursday. At its new level of 211 points, the Index was 11.3% (27 points) below its peak in February 2011.

• Thursday, January 12th 2012 - 21:31 UTC

  Argentina and IMF moving closer, admit holding regular bilateral contact

  

  Speaking at a press conference from Washington DC on Thursday, IMF acting director of External Relations Gerry Rice said the organization’s directors “will meet in late January or early February to analyze the progress made in Argentina’s statistics”.

• Thursday, January 12th 2012 - 21:28 UTC

  ECB says flood of ‘cheap money’ helping the Euro zone banking system

  

  The European Central Bank's flood of cheap three-year money is helping the Euro zone's banking system substantially and supporting confidence in the bloc's economy which is showing some signs of stabilisation, president Mario Dragui said on Thursday.

• Thursday, January 12th 2012 - 21:21 UTC

  Argentine industry ‘under risk with new ‘super-license’ imports’ system

  

  While Argentina’s Mercosur trade partners have adopted a cautious attitude regarding the latest measures that make it more cumbersome and bureaucratic to sell to Argentina, the country’s manufacturers and importers have warned of the consequences and called for a more balanced approach to the issue.

• Thursday, January 12th 2012 - 14:28 UTC

  Chinese company to purchase world’s fourth largest uranium deposit in Namibia

  

  Namibia's competition commission said on Wednesday it had cleared a Chinese nuclear company to take over an Australian mining firm with rights to the world's fourth-largest uranium deposit.

• Thursday, January 12th 2012 - 14:12 UTC

  Uruguay 2011 beef exports dropped 8% in volume, lowest since 2004

  

  Uruguay beef exports last year dropped 8% in volume but soared 18% in value because of higher international prices and fewer cattle. However the volume was the lowest since 2004 and confirms a decreasing tendency since 2006, according to the latest figures released by the government.

• Thursday, January 12th 2012 - 12:32 UTC

  Chile ratifies its position and denies existence of a Malvinas blockade

  

  Chile ratified this week that vessels flying the Malvinas flag will continue to be barred from Chilean ports and that the country’s position relative to the issue has not changed and denies the existence of a blockade. A brief statement from the Chilean Foreign Affairs ministry indirectly refers to the latest statement by UK Foreign Secretary William Hague.

• Thursday, January 12th 2012 - 12:31 UTC

  Uruguay’s position on barring Malvinas flagged vessels “has not changed an iota”

  

  In an official communiqué Uruguay ratified full support for Argentina’s Malvinas sovereignty claim and underlined that the barring of Malvinas’ flagged vessel from Uruguayan ports stands and “has not changed an iota”.