Economy

• Friday, November 11th 2011 - 08:19 UTC

  October consumer inflation in Brazil eases to 0.43% and 6.97% in last 12 months

  

  Brazil's benchmark IPCA consumer price index rose 0.43% in October from September, slightly above expectations, government statistics agency IBGE said on Thursday.

• Friday, November 11th 2011 - 08:09 UTC

  Greece gets a former ECB banker as PM to implement the Euro rescue package

  

  Greece named banker Lucas Papademos as head of a new crisis government on Thursday, ending the country's chaotic search for a leader to save it from default, bankruptcy and expulsion from the Euro zone.

• Friday, November 11th 2011 - 07:53 UTC

  Merkel denies smaller Euro Project but her party, CDU, congress could hold surprises

  

  German Chancellor Angela Merkel rejected Thursday the idea that her government might favor a smaller Euro zone, saying her only goal since the beginning of the debt crisis has been to stabilise the bloc in its current form.

• Thursday, November 10th 2011 - 08:17 UTC

  Euro crisis: IMF chief warns of a “lost decade”; China calls for strong political will

  

  The head of the IMF warned on Wednesday that Europe's debt crisis risked plunging the global economy into a “lost decade” and said it was up to rich nations to shoulder the burden of restoring growth and confidence.

• Thursday, November 10th 2011 - 08:01 UTC

  Brazil preparing battery of incentives if Q3 GDP growth is not convincing

  

  Brazil’s government is debating whether to remove credit restrictions imposed in the last eleven months as President Dilma Rousseff seeks to shore up economic growth, according to government officials.

• Thursday, November 10th 2011 - 07:57 UTC

  Brazilean court allows construction of controversial gigantic dam to continue

  

  A Brazilian federal court on Wednesday rejected an appeal for suspending construction of the controversial 11 billion dollars Belo Monte hydroelectric dam in the heart of the Amazon until after indigenous people has been consulted.

• Thursday, November 10th 2011 - 07:43 UTC

  Chinese leading bank planning to expand business in Argentina

  

  China Industrial and Commercial Bank Ltd. plans to invest 100 million dollars in Standard Bank Argentina once it receives regulatory approval to buy a majority stake in the company, according to Argentine financial sources.

• Thursday, November 10th 2011 - 07:36 UTC

  Obama/CFK meeting “warm” but Argentina must pay its debts

  

  The US referred to last week’s meeting between Barack Obama and President Cristina Fernández as “warm,” but once again “encouraged” Argentina to pay off the debt it holds with US bondholders and companies.

• Thursday, November 10th 2011 - 06:31 UTC

  Uruguay advised to lower Mercosur expectations and ‘follow your own interests’

  

  Mercosur expectations must be lowered and made to prosper in energy integration, infrastructure and trade, said a Uruguayan leading economist adding that without sounding dramatic “we must follow our interests”.

• Thursday, November 10th 2011 - 06:11 UTC

  Euro crisis: Brazil says capital flight from emerging economies has started

  

  Members from the Brazilian and Uruguayan governments have warned about the increase of capital flight from emerging countries as the Euro crisis lags in search of a strong decision.