A top level Indian business delegation headed by Minister of state for Commerce and Industry Jyotiraditya Scindia is travelling to Argentina and Uruguay to boost ties with Mercosur, according to the Indo-Asian news agency.
The Federal Reserve said on Wednesday it will maintain the current rates and is in no rush to scale back its extensive support for the US economy while estimating that the increase in commodity prices (and inflation) is transitory.
Risk rating agency Standard and Poor's threatened to cut Japan's sovereign credit rating again, warning the huge cost of last month's devastating earthquake will hurt already weak public finances unless bickering politicians can agree to raise taxes.
Argentina's March trade surplus more than doubled (up 141%) from the same month last year to 667 million US dollars according to official data, helped by the government’s import curbs and stronger grains exports. Trade surplus in March 2010 was 276 million USD.
Mercosur country members with support from the Inter-American Development Bank (IDB) and the World Tourism Organization will cooperate in the promotion of tourism focusing on improved and harmonized statistics, strengthening governance and promoting investment in the industry in the region.
Brazil's current account deficit ballooned to a record for the month of March as foreign companies in Brazil sent more profits home and Brazilians spent more on travel and goods overseas.
Brazil is planning to hand over the country's five largest airports to the private sector through concession agreements, in an effort to accelerate upgrades ahead of two major international events, Brazilian presidential Chief of Staff Antonio Palocci said Tuesday.
Brazil’s central bank President Alexandre Tombini admitted that slowing inflation back to target next year will require a “prolonged” and incisive effort.
Italy’s Fiat Industrial, through its affiliate CNH, will set up a plant in Argentina to manufacture powerful combines and specialty tractors destined for the Latin American market. The plant will create some 600 direct and 1,500 indirect jobs, CNH said in a statement on Tuesday.
Soaring food and fuel prices are threatening to derail growth in Asian economies, according to a report by the Asian Development Bank (ADB). The bank has warned that if food and fuel prices continue to surge, economic growth in the region could be reduced by up to 1.5% this year.