The Executive Board of the International Monetary Fund selected on Tuesday Christine Lagarde to serve as IMF Managing Director and Madame Chairman of the Executive Board for a five-year term starting on July 5, 2011.
House prices in some parts of Rio are up nearly 80% in the past year,” says Ronaldo Coelho Netto, an estate agent in Rio de Janeiro, looking up at a new development near the city centre.
The Mercosur summit will be an opportunity to solve asymmetry problems and social inequalities in the region, said Paraguay’ Foreign Affairs minister Jorge Lara Castro. The South American customs union is meeting this week in Asuncion for the first of two annual summits when the rotating chair will be passed on to Uruguay.
French banks have agreed to roll over holdings of Greek debt for 30 years, President Nicolas Sarkozy said on Monday, as the Greek government tries to persuade backbench rebels to back a crucial austerity plan to avert bankruptcy.
Dutch and British health officials advised people to avoid raw sprouts and seeds after scientists linked an outbreak of E. coli in France to a highly toxic one in Germany that has killed 47 people.
An estimated 39.5 million Brazilians climbed to the middle class between 2003 and May 2011 according to a report from the Getulio Vargas Foundation, FGV, released Monday and which underlined inclusion and inequality reduction as the main forces.
The Federal Reserve will remain the biggest buyer of Treasuries, even after the second round of quantitative easing ends this week, as the central bank uses its 2.86 trillion US dollars balance sheet to keep interest rates low.
Consumer spending in the United States was unchanged in May for the first time in almost a year, likely reflecting a plunge in auto sales, according to a US government report, that also showed a build-up in underlying inflation pressures.
The newly elected chief of the United Nations food agency, FAO, anticipated on Monday high and volatile food prices will persist for several years. Brazil's Jose Graziano da Silva was elected on Sunday to replace Senegal's Jacques Diouf.
Desperate and decimating. That’s how biologist Agustín Iriarte describes the attitude of livestock farmers and their dwindling number of livestock, as predators take their toll. Chile’s pumas are attacking and killing sheep flocks more than ever.