Economy

• 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.

• Tuesday, August 9th 2011 - 07:44 UTC

  Latam markets losses greater than in Europe and the US

  

  The main stock markets in Latin America also suffered the impact of panic selling in major markets.

• Tuesday, August 9th 2011 - 07:37 UTC

  Gold soars to 1.700 dollars as world markets are on free-fall fearing recession

  

  Asian equity markets were sharply down early Tuesday as investors fearing a possible global economic slowdown continued to flee stocks as had happened earlier in Europe, United States and Latin America.

• Tuesday, August 9th 2011 - 07:26 UTC

  Canada-Brazil CEO forum to consider trade agreement with Mercosur

  

  Visiting Canadian Primer Minister Stephen Harper and Brazilian President Dilma Rousseff signed on Monday several agreements on air travel, pension benefits, international aid and other areas at the Planalto Executive palace in Brasilia.

• Monday, August 8th 2011 - 20:32 UTC

  Moody’s repeats downgrade warning by 2013 if US does not cut budget deficit

  

  Ratings agency Moody's repeated a warning Monday it could downgrade the United States before 2013 if the fiscal or economic outlook weakens significantly, but said it saw the potential for a new debt agreement in Washington to cut the budget deficit before then.