Economy

• Saturday, October 1st 2011 - 05:30 UTC

  Banks and bonds of Italy and Spain need to be protected, warns Soros

  

  Policymakers have lost control of the economic crisis and financial markets are forcing the world into a depression, George Soros said on Friday, urging Europe to create a common Treasury, recapitalize its banks and protect vulnerable states.

• Saturday, October 1st 2011 - 01:16 UTC

  Construction activity in Argentina remains steady as investors choose “bricks”

  

  Argentina's construction activity rose 7.3% on the year in August, as builders and private investors continued to benefit from a booming economy and high inflation.

• Friday, September 30th 2011 - 18:27 UTC

  Brazil primary budget surplus down in August; growth projection lowered to 3.5%

  

  Brazil’s budget surplus before interest payments narrowed in August to its lowest in nine months even as the central bank relies on fiscal policy to help fight the fastest inflation in six years.

• Friday, September 30th 2011 - 17:57 UTC

  For Latam the role of the Yuan as an international currency is “inevitable”

  

  The role of the Yuan as an international currency is “inevitable” and it is most feasible that Latin American countries will begin accumulating foreign exchange reserves in that currency forecasted an Argentine expert in foreign relations.

• Friday, September 30th 2011 - 06:13 UTC

  Chilean/Swedish group ensure 1.35billion dollars to finance pulp plant in Uruguay

  

  The Chilean group Arauco, an affiliate of the pulp and paper Copec Enterprises announced on Thursday that together with its European partner they had subscribed 1.354 billion dollars in loans for the construction of a pulp plant in Uruguay.

• Friday, September 30th 2011 - 06:05 UTC

  Uruguay leaves basic rate unchanged at 8%; inflation remains above target

  

  Uruguay’s Central bank kept its benchmark interest rate unchanged as policymakers focus on bringing inflation back to target in anticipation of possible impacts from a global slowdown.

• Friday, September 30th 2011 - 01:47 UTC

  Cuba replacing Sugar Ministry for a holding company ‘efficiency oriented’

  

  Cuba is closing its once powerful Sugar Ministry in favour of a state holding company charged with pulling the sector out of a long decline, official media announced on Thursday.

• Friday, September 30th 2011 - 01:32 UTC

  Dissident Fed member forecasts a ‘painfully protracted recovery’

  

  Federal Reserve's move last week to further lower borrowing costs was risky and won't significantly speed up a “painfully protracted” recovery, one of the officials who dissented against the decision said on Thursday.

• Thursday, September 29th 2011 - 17:16 UTC

  German parliament approves Euro bail out fund to cut Greek contagion

  

  A large majority in the German parliament has approved expanded powers for the EU main bailout fund. Chancellor Angela Merkel received stronger than expected support in the Bundestag despite some in her coalition vowing to oppose the bill.

• Thursday, September 29th 2011 - 16:31 UTC

  US jobs and GDP stats still poor, but not as bad as previously estimated

  

  US new unemployment benefit claims fell to a five-month low last week, while the economy grew slightly more than previously reported in the second quarter, according to data from the Labour Department.