Economy

• Wednesday, June 22nd 2011 - 23:08 UTC

  Latam millionaires ‘smarter’ than Asia-Pacific peers during 2007/10 recession

  

  Millionaires in Latin America fared better than their compatriots in other regions during the global recession. A combination of a conservative investing streak and Latin America's brisk recovery helped millionaires in the region minimize losses in the last four years, according to the latest annual Merrill Lynch-Capgemini World Wealth Report.

• Wednesday, June 22nd 2011 - 16:31 UTC

  World’s largest bond fund predicts default for Greece “and other European economies”

  

  The head of PIMCO, the world's biggest bond fund, predicted that Greece and other European economies would default on their debts to resolve their problems as the Euro area deals with its debt crisis.

• Tuesday, June 21st 2011 - 21:35 UTC

  Luxembourg has highest EU GDP per capita; 6.5 times Bulgaria

  

  Luxembourg is by far the richest country in the European Union in terms of GDP per capita, more than six times more affluent than the 27-nation bloc's poorest member Bulgaria, data showed.

• Tuesday, June 21st 2011 - 05:50 UTC

  UK Deputy PM arrives in Brazil to promote trade and investment

  

  British Deputy Prime Minister Nick Clegg arrives Tuesday in Brazil with a numerous delegation of business leaders, academics and sports figures to promote bilateral trade with Latin America’s largest economy.

• Tuesday, June 21st 2011 - 03:16 UTC

  Petrobras told to control costs of its massive investment program

  

  Petrobras oil and gas corporation needs to control costs in its investment program, Brazil's Finance minister said on Monday, days after he and other board members told the company to revise an update of its 224 billion US dollars spending plan.

• Tuesday, June 21st 2011 - 03:05 UTC

  Embraer announces in Paris Air Show orders for 39 E-190 regional jets

  

  Brazil’s Embraer announced Monday at the Paris Air Show it had won orders for 39 E-190 regional jets and estimates is has “good chances” of firm orders from US carrier Delta Air Lines, which will likely make a decision to renew its fleet by October.

• Tuesday, June 21st 2011 - 02:38 UTC

  Brazil targets 5% increase for next crop and loans 67bn USD to farmers at zero rate

  

  Brazilian president Dilma Rousseff announced an agriculture support plan of approximately 67 billion US dollars with the purpose of increasing by 5% the 2011/2012 harvest of grains and oil-seeds

• Tuesday, June 21st 2011 - 02:24 UTC

  “With a few drops of its reveres, China can finance Ecuador’s development”

  

  Ecuadorian president Rafael Correa said China has one of the largest liquid international reserves in the world and could with “a few drops” finance the development of his country and the whole of Latin America.

• Monday, June 20th 2011 - 20:26 UTC

  Moody’s upgrades Brazil’s sovereign credit rating to “Baa2”

  

  Ratings agency Moody's Investors Service upgraded Brazil's sovereign credit rating on Monday, giving a vote of confidence in the government's efforts to prevent the region’s largest economy from overheating.

• Monday, June 20th 2011 - 20:18 UTC

  Unasur forecasts greater role for Latam in new international order

  

  A new global order is emerging as a result of the world crisis and recession in developed countries and Latin America has a crucial role to play given its very satisfactory economic performance in recent years, said Unasur Secretary General Maria Emma Mejia.