Economy

• Monday, June 27th 2011 - 06:15 UTC

  Central banks must raise interest rates to control inflation, says BIS

  

  Central banks need to start raising interest rates to control inflation and may have to act faster than in the past according to the Bank of International Settlements.

• Monday, June 27th 2011 - 06:09 UTC

  US think-tank says hedge funds are behind “land grabs” in Africa

  

  Hedge funds are behind “land grabs” in Africa to boost their profits in the food and bio-fuel sectors, a US think-tank says. In a report, the Oakland Institute said hedge funds and other foreign firms had acquired large swathes of African land, often without proper contracts. It said the acquisitions had displaced millions of small farmers.

• Monday, June 27th 2011 - 05:44 UTC

  Germany warns Greece: ‘no austerity plans approved, no release of funds’

  

  German finance minister Wolfgang Schaeuble warned that a veto of the Greek government's austerity plans by parliament this week could mean Athens will not receive a bailout tranche it needs to remain solvent.

• Monday, June 27th 2011 - 05:26 UTC

  Three risk rating agencies have Colombia with investment grade

  

  Fitch Ratings raised Colombia to investment grade last week, becoming the third Wall Street agency to elevate the country this year to the coveted status, opening the door to a broader range of investors.

• Sunday, June 26th 2011 - 02:46 UTC

  China loans and oil prices boost Ecuador economy two years after default

  

  Ecuador’s bonds are rewarding investors with the best performance in Latin America as Chinese loans and higher oil prices boost confidence in the economy two years after the country defaulted on 3.2 billion US dollars in debt.

• Saturday, June 25th 2011 - 08:00 UTC

  Canada interested in closer links with Mercosur announces ‘exploratory talks’

  

  Canada and Mercosur agreed on Friday to hold exploratory talks to strengthen their relationship, Canadian Trade Minister Ed Fast said on Friday. Fast is currently in Asunción to promote bilateral trade and investments, and Paraguay currently holds the Mercosur chair.

• Saturday, June 25th 2011 - 07:54 UTC

  Argentina’s economic activity soars 9.1% in first four months, says Indec

  

  Argentina’s economic activity level increased 9.1% in the first four months of the year compared to the same period of 2010 fuelled by domestic consumption, manufacturing and international trade, according to the country’s Statistics and Census Office, Indec.

• Saturday, June 25th 2011 - 07:49 UTC

  Brazil preparing to licence 45 ports to operators; the first Amazon city of Manaus

  

  Brazil's government, which has already begun the process of handing over airports to private investment, is now preparing 45 ports to be licensed to operators, Estado de S Paulo newspaper reported Friday.

• Friday, June 24th 2011 - 22:58 UTC

  China says it can control inflation and maintain robust growth

  

  Chinese premier Wen Jiabao has said that China can control inflation and maintain its robust growth. Writing in the Financial Times, Mr Wen said “price rises will be firmly under control this year”.

• Friday, June 24th 2011 - 22:44 UTC

  US economy expanded at a 1.9% annual pace in the first quarter

  

  The United States economy grew at a 1.9% pace in the first quarter marking the start of what Federal Reserve policy makers anticipate is a temporary slowdown in growth.