Economy

• Friday, December 16th 2011 - 06:30 UTC

  FDI in Brazil jumped four times since 2005 totalling 661bn; US main investor

  

  Foreign direct investment (FDI) in Brazil expanded fourfold between 2005 and last year, from 162.8 billion to 660.5 billion dollars, the country’s central bank said on Thursday.

• Friday, December 16th 2011 - 06:13 UTC

  Argentine economy roaring at 9.3% in third quarter, announced CFK

  

  Argentina’s economy expanded in the third quarter at the fastest pace since 2003, said President Cristina Fernandez on Thursday during a visit to a Toyota Motor Corp. plant in the province of Buenos Aires

• Thursday, December 15th 2011 - 20:59 UTC

  Astori anticipates investment grade and the white list for Uruguay in 2012

  

  Vice president Danilo Astori anticipated that in 2012 Uruguay will recover investment grade and said that including Uruguay in the OECD “grey list” was a “tremendous injustice” which did not take into account all the advances achieved in combating money laundering and narcotics trade.

• Thursday, December 15th 2011 - 19:53 UTC

  Argentina bullying Uruguay on canal dredging and Falkland Islands flagged vessels

  

  Uruguay has banned the docking of Falklands/Malvinas flagged vessel in the port of Montevideo, following on complaints from Argentina that several fishing vessels with that flag, in recent months had been operating from Montevideo.

• Thursday, December 15th 2011 - 18:03 UTC

  After dismal year Brazilian industry expects modest recovery in 2012

  

  Brazilian industry saw 1.8% growth this year, well below expectations, and expansion will be limited to 2.3% in 2012 due to a global economic slowdown, a business group said this week.

• Thursday, December 15th 2011 - 15:37 UTC

  Brazil decides full support for the (development) Bank of the South

  

  The administration of President Dilma Rousseff will be sending the bill creating the Bank of the South to congress next month, since this financial institution “will help the region address the global crisis”.

• Thursday, December 15th 2011 - 03:50 UTC

  Uruguay meat exports reach 1.5 billion dollars in eleven months

  

  In eleven months of 2011 Uruguayan meat exports jumped 21% in value compared to the same period a year ago, totalling 1.505 billion dollars and 373.548 tons according to the latest release from the country’s National Meat Board (INAC).

• Thursday, December 15th 2011 - 00:50 UTC

  China imposes punitive duties on large cars exported from US

  

  China will impose punitive duties of up to 22% on large cars and SUVs exported from the United States, China's Commerce Ministry said on Wednesday, the latest in a series of trade disputes between the world's two largest economies.

• Thursday, December 15th 2011 - 00:45 UTC

  Hong Kong world’s most developed financial market; Brazil in Latam

  

  Hong Kong became the world’s most developed financial market, overtaking the US and the UK for the first time, according to the Financial Development Report 2011 published by the World Economic Forum (WEF) on Wednesday.

• Wednesday, December 14th 2011 - 23:07 UTC

  Credit ratings remain reluctant to award Uruguay ‘investment grade’

  

  Credit rating agencies believe that in spite of the successful management of its sovereign debt Uruguay still has some issues to improve before investment grade is awarded. Moody’s has promised to visit Uruguay at the beginning of next year to assess those conditions.