Economy

• 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.

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

  US decision to vote against loans for Argentina “will not affect funding for 2012”

  

  Washington's decision to vote against loans for Argentina from multilateral development banks “will not affect the country's funding for 2012”, an Argentine government source said on Wednesday.

• Thursday, September 29th 2011 - 06:36 UTC

  UK rejects EU sponsored financial tax: “Euro crisis not Britain’s problem”

  

  The UK has rejected a call from European Commission president Jose Manuel Barroso for a new continent-wide banking tax to help raise billions to ease the Euro zone debt crisis.

• Thursday, September 29th 2011 - 06:28 UTC

  EC desperate call on the European Central bank to maintain financial stability

  

  European Commission President Jose Manuel Barroso urged the European Central Bank to do everything in its power to maintain financial stability in the Euro zone, saying the EU faced the biggest challenge in its 50-year history.

• Thursday, September 29th 2011 - 06:12 UTC

  Ecuador land of exquisite cacao, major sponsor at Chocolate Week in London

  

  Ecuador has been announced as a major sponsor and exhibitor of the National Chocolate Week in London, the UK’s biggest and most indulgent chocolate celebration.

• Thursday, September 29th 2011 - 06:09 UTC

  Brazilian judge orders halt to construction of third largest dam in the world

  

  A judge in Brazil has ordered a halt to construction of a multi-billion-dollar dam project in the Amazon region. Judge Carlos Castro Martins barred any work that would interfere with the natural flow of the Xingu river.