Economy

• Thursday, October 27th 2011 - 05:37 UTC

  Praise and dollars from the World Bank to Peruvian president Humala

  

  The World Bank has offered a 3 billion dollars line of credit to Peru, backing President Ollanta Humala's plans for anti-poverty initiatives and sustained economic growth, a regional vice president said this week.

• Wednesday, October 26th 2011 - 15:26 UTC

  Argentina floods the market with dollars to control money speculation

  

  The Argentine Central Bank (BCRA) issued a special decree so that all export revenues generated by both mining and energy sectors remain in Argentina to be negotiated at the local foreign exchange market.

• Wednesday, October 26th 2011 - 15:22 UTC

  Strong support for Merkel ahead of the Euro bail out summit

  

  Germany's Bundestag lower house of parliament approved on Wednesday a motion to strengthen the Euro zone rescue fund via leveraging, providing Chancellor Angela Merkel with the mandate she needs to negotiate at a key Euro summit in Brussels.

• Wednesday, October 26th 2011 - 15:18 UTC

  WTO warns protectionism is gaining ground “as a political reaction” to economic difficulties

  

  Economic pressures are tempting G20 governments to resort to protectionism in a misguided bid to shield their domestic markets from problems that are unrelated to trade, the World Trade Organization said in a biannual report Wednesday.

• Wednesday, October 26th 2011 - 13:58 UTC

  Can the Falkland Islands achieve economic diversification borne from adversity?

  

  The launch this month by the Falkland Islands Development Corporation (FIDC) of the Import Substitution Programme under the slogan, “Use Spades, Not Ships” bears striking parallels to the Grow More Food campaign established in war-time Britain during the Second World War. A campaign known better by its slogan – “Dig for Victory”.

• Wednesday, October 26th 2011 - 13:49 UTC

  Top bankers praise Latam’s performance but beware effects of Euro crisis

  

  Latin America is in a good financial situation, but the problems currently being suffered by the US and Europe poses a threat, according to the region’s banks federation, FELEBAN.

• Wednesday, October 26th 2011 - 13:42 UTC

  Fitch ratifies Brazil’s credit rating and medium term growth prospects

  

  Fitch Ratings said it had decided to maintain Brazil's BBB investment grade credit rating and predicted the outlook for the Latin America’s largest economy would remain stable.

• Wednesday, October 26th 2011 - 05:10 UTC

  Leiv Eirksson oil rig leaves for the Falklands from Greenland next month

  

  When the Leiv Eriksson, a rig built to hunt for oil beneath 10,000 feet of water in the world’s roughest seas, finishes drilling a well off Greenland’s west coast next month, it will sail for its next job -- a prospect 9,000 miles away, south of the Falkland Islands.

• Wednesday, October 26th 2011 - 03:13 UTC

  Brazil’s total federal debt stands at just over a trillion dollars, said the Treasury

  

  Brazil's total federal debt rose in September as the Treasury issued new debt at home and abroad, the government reported this week. The country's federal debt load increased 2.3% in the month to Reais 1.809 trillion (1.02 trillion dollars), from Reais 1.768 trillion in August, the Treasury said in a statement.

• Wednesday, October 26th 2011 - 03:04 UTC

  Brazil asks WTO to study “currency ‘misalignments” and global trade

  

  Brazilian government has proposed further study at the World Trade Organization on the effects that exchange rate fluctuations have on international trade, the foreign ministry said this week.