Canadian government has enlisted Bank of Nova Scotia CEO Rick Waugh to lead a group of chief executives who will help broker deeper trade and investment relations with Brazil, the world’s seventh largest economy.
The Brazilian economy may face a potential crisis as its fragile foundation could barely withstand the impact of a new global financial turmoil, a local economist warned.
The Chinese Yuan is ready to appreciate more rapidly against the dollar in coming months as it takes on a bigger role in Beijing’s box of monetary policy tools, a group of official Chinese newspapers reported on Friday.
Argentina ratified this week the free trade agreement reached between Mercosur and Israel, the first to be signed by the South American block with an outer zone party.
The Unions of South American Nations, Unasur, finance officials are considering creating a 10 to 20 billion dollars emergency fund to assist nations that experience capital flight should the global economic crisis deepen, according to financial sources.
On Sunday, Cristina Fernández de Kirchner will be seeking approval to lead the FPV in October’s general elections. With the country currently braving the world’s economic storm, she is keen to keep up appearances.
Latin American stocks marked their own course on Wednesday as the region remained relatively distant to turmoil in the United States and Europe.
Asian shares were mixed on Thursday as fears about the European debt crisis overshadowed the region's growth prospects. Japan's Nikkei 225 index was down 1.3%, with Hong Kong's Hang Seng also dropping by 1.5%.
Moody’s, Standard & Poor's (S&P) and Fitch confirmed Wednesday that France still rates as a triple-A country with a stable outlook. The comments came in response to market rumours of a French sovereign credit rating downgrade, which hit French bank stocks.
Almost 300.000 sheep and 9.200 cattle are exposed to serious life risk following heavy snow storms which covered the Magallanes Region in the extreme south of Chile with a white blanket anywhere between 70 and 150 centimetres thick.