Economy

• Wednesday, August 10th 2011 - 07:40 UTC

  Latin America stocks bounce back, but fears remain as to the US and EU

  

  Latin American stocks bounced back on Tuesday after suffering their worst day since October 2008, but fears of a US recession and a deeper European debt crisis promise to keep markets edgy.

• Wednesday, August 10th 2011 - 07:35 UTC

  US, EU and Asian markets rebound strongly on Fed Reserve announcement

  

  Asian markets rebounded after the US Federal Reserve said it will keep interest rates on hold and Wall Street had its best day in two years. The decision by the US central bank to keep rates at current levels until at least 2013 helped stem one of the biggest sell-offs in recent years.

• Wednesday, August 10th 2011 - 07:30 UTC

  China’s surplus highest in two years, but export growth rate expected to slow

  

  China’s trade surplus surged to 31.5 billion dollars in July, the highest level in more than two years, as exports rose to a record. Exports climbed 20.4% from a year earlier while imports surged 22.9%, the Customs bureau said on its website Wednesday.

• Tuesday, August 9th 2011 - 22:17 UTC

  Argentina’s Congress ‘inflation index’ for July, 1.62%, doubles the official rate

  

  Argentina’s “Congress inflation index” reached 1.62% in July, confirming well over 23% for the last twelve months according to the latest release from the Lower House.

• Tuesday, August 9th 2011 - 21:53 UTC

  Inflation in China higher than expected; food prices climb 14.8% in 12 months

  

  Inflation in China was higher than expected in July, despite a series of efforts by the government to rein in prices. Consumer prices in July rose 6.5% compared with the same month last year, the National Bureau of Statistics said.

• Tuesday, August 9th 2011 - 21:09 UTC

  Argentina (and South America) “prepared to face rich countries economic crisis”

  

  Argentina’s Minister of Economy and President Cristina Fernández de Kirchner running mate for the upcoming presidential elections Amado Boudou stressed Tuesday that the country is ready to face the recent international economic crisis that has pushed world markets down for the past week.

• Tuesday, August 9th 2011 - 20:11 UTC

  Federal Reserve anticipates low rates and current stimuli level through mid-2013

  

  The Federal Reserve said on Tuesday it will keep its hefty monetary policy stimulus for at least another two years, an effort to support a flagging economy and fragile global markets that face considerable selling spree.

• Tuesday, August 9th 2011 - 12:55 UTC

  To face the crisis, it is necessary to act with “the criteria of a good housewife”

  

  Uruguayan President Jose Mujica said Monday that the developed world financial scenario is quite disappointing almost regrettable, and recovery in those countries can be expected to be “very slow and full of uncertainties”

• Tuesday, August 9th 2011 - 12:53 UTC

  “The most significant financial crisis capitalism has faced in contemporary history”

  

  “I have no doubts we are before the most significant financial crisis capitalism has faced in contemporary history”, said Uruguay’s Vice-president Danilo Astori when asked about the possible consequences for the region if the lack of confidence in the US dollar and Euro extends.

• Tuesday, August 9th 2011 - 07:50 UTC

  The crisis in advanced countries “was never over, it’s chronic’ warns Brazilian minister

  

  Brazil’s Finance Minister Guido Mantega admitted Monday that if the international crisis in the EU and US markets persists, Brazil would have to lower its growth estimate.