Economy

• Wednesday, August 24th 2011 - 07:02 UTC

  Mantega admits global crisis in having an impact: lowers Brazil growth to 4%

  

  Brazilian Finance minister Guido Mantega admitted before the Senate that the global financial crisis is already having an impact in the local economy and this will be reflected in a lower GDP for the twelve months.

• Wednesday, August 24th 2011 - 07:00 UTC

  Record DFI in Brazil narrows significantly current account deficit

  

  Brazil's 12-month current account deficit narrowed in July on rising revenue from exports and strong foreign direct investment. The 12-month deficit declined to 47.9 billion dollars or 2.1%, of GDP, from 49 billion, or 2.2% of GDP in June, the central bank said Tuesday.

• Wednesday, August 24th 2011 - 06:55 UTC

  Government spending and jobs boost President Cristina Fernandez re-election

  

  With Argentina’s presidential election less than two months away official data is showing why President Cristina Fernandez de Kirchner is poised to make effective her re-election bid in October.

• Wednesday, August 24th 2011 - 06:47 UTC

  World markets higher on expectations of Bernanke speech Thursday

  

  US stocks shot 3% higher on Tuesday on speculation Federal Reserve Chairman Ben Bernanke this week could signal new help for the US economy, giving investors hope a four-week rout was nearing an end.

• Wednesday, August 24th 2011 - 06:40 UTC

  Argentine trade surplus shrinks 22% in July as imports outpace exports

  

  Argentina's trade surplus shrank 22% in July from a year earlier to 672 million dollars as import growth continued to outpace exports, the government said on Tuesday. The trade surplus totalled 861 million dollars in July 2010.

• Tuesday, August 23rd 2011 - 06:36 UTC

  Gold glitters on fear to an all time high of 1.910 dollars on Tuesday

  

  Spot gold soared to an all-time high above 1,910 dollars on Tuesday, scoring a record top for a fourth consecutive session, as persistent worries about global economic growth burnished bullion's safe-haven appeal.

• Tuesday, August 23rd 2011 - 06:33 UTC

  After effects of downgrading US credit rating: KO for S&P president

  

  Standard & Poor's (S&P) president Deven Sharma has stepped down just weeks after the agency downgraded the US credit rating. He will be replaced by Douglas Peterson, chief operating officer of Citibank with effect from 12 September, the agency said.

• Monday, August 22nd 2011 - 07:32 UTC

  In spite of global crisis, leading Spanish bank optimistic about Latam outlook

  

  In spite of world turbulences the Latin America economy will expand 4.8% in 2011 and 4% in 2012 and 2013 boosted by the high price for commodities and strong domestic demand, according to the Spanish bank BBVA, on its “Latinamerica report”.

• Monday, August 22nd 2011 - 07:22 UTC

  Chavez health and ‘arbitrary laws’ make S&P downgrade Venezuela’s rating

  

  US ratings agency Standard & Poor's downgraded Venezuela's foreign and local currency sovereign ratings by one notch Friday, citing the country's political risk as a credit weakness.

• Monday, August 22nd 2011 - 07:19 UTC

  Biden tells China US power not waning and anticipates a bumpy 2012

  

  US Vice President Joe Biden rejected views that US power is waning and said Washington would never default, wrapping up a China visit that has played down tensions between the world's two biggest economies. He also anticipated 2012 was a ‘transition year” both for the US and China