Economy

• Wednesday, December 7th 2011 - 01:57 UTC

  Obama sends Geithner in support of the ‘Merkozy” Euro rescue plan

  

  US Treasury Secretary Timothy Geithner threw his weight on Tuesday behind a Franco-German plan to tackle the Euro zone's sovereign debt crisis and said the European Central Bank had to play a major role in any solution.

• Wednesday, December 7th 2011 - 01:54 UTC

  S&P downgrade warning, “the best news” to find an EU solution, says Schaeuble

  

  German Finance Minister Wolfgang Schaeuble said Standard & Poor’s downgrade warning for 15 Euro- area governments will spur European leaders to double efforts to resolve the debt crisis at the Dec. 8-9 summit.

• Tuesday, December 6th 2011 - 20:20 UTC

  Brazil slowdown faster than expected: negative growth in the third quarter

  

  Brazil’s economy shrank in the third quarter, prompting the government to slash its growth forecast for the year, one week after announcing stimulus measures to contain the spillover from Europe’s debt crisis.

• Tuesday, December 6th 2011 - 18:51 UTC

  Forum to promote trade and investment relations Latam-India

  

  The potential of India for Latinamerican exports and investment opportunities was underscored during the presentation of a report “India and Latin America and the Caribbean, opportunities and challenges in trade and investment relations” sponsored by the UN Economic Commission for Latin America and the Caribbean, ECLAC.

• Tuesday, December 6th 2011 - 18:49 UTC

  Boom of the wind power energy in north-east Brazil: 11.2 MW by 2014

  

  Brazil is going through a wind power boom as production prices fall and government incentives attract a growing number of foreign suppliers. The wind power sector has a current capacity of around 1,400 megawatts, and is expected to grow nearly eight-fold by 2014, according to the Brazilian Association of Wind Energy ABEEolica.

• Tuesday, December 6th 2011 - 13:35 UTC

  Uruguay filed to issue up to 2 billion dollars in new 2028 global bonds

  

  Uruguay announced on Monday filed to issue up to two billion dollars in new global bonds maturing in 2028 and to conduct a series of liability management transactions designed to further improve its external debt profile, including an exchange offer and a cash tender offer for certain of its outstanding debt securities.

• Tuesday, December 6th 2011 - 04:31 UTC

  “Mercosur at its worst moment” and Argentina has clearly “a protectionist focus”

  

  Uruguay’s Vice-president Danilo Astori blasted Argentina’s protectionist and foreign exchange policies because they damage Mercosur, which is currently living its “worst possible moment”.

• Tuesday, December 6th 2011 - 04:22 UTC

  Latam forecasted to expand 4.4% this year and 3.5% in 2012

  

  The Executive Secretary from the UN Economic Commission for Latinamerica and the Caribbean, ECLAC, Alicia Barcena said that the European crisis is beginning to be felt but nevertheless growth in the region will continue this year and in the coming twelve months at levels above 3.5%.

• Tuesday, December 6th 2011 - 04:19 UTC

  Vietnamese teaching Cubans how to grow rice efficiently

  

  Cuba plans to enlarge to 40,000 hectares a Vietnamese-aided test farm to expand production of rice, official media said on Monday.

• Monday, December 5th 2011 - 22:20 UTC

  Chilean carrier launches fourth affiliate Lan Colombia

  

  LAN Airlines, Chile’s flag carrier made the official launching of its fourth affiliate under the name of Lan Colombia, becoming the second largest airline in the country with 22 domestic destinations, including Cartagena, Cali and Medellín.