Economy

• Wednesday, June 15th 2011 - 02:43 UTC

  “Self determination and self sufficiency”, Falklands message to the world on Liberation Day

  

  “Self-determination and self-sufficiency” is the Falkland Islands message to the world on the day the Islands commemorate the 29th anniversary of its liberation, said the Falklands’ government representative in London Sukey Cameron, who added Argentina continues with its campaign to claim sovereignty and disrupt the Falklands economy.

• Wednesday, June 15th 2011 - 01:45 UTC

  Argentine opposition says May inflation was 1.5% and 23.5% in last 12 months

  

  Argentine opposition lawmakers reported Tuesday that the inflation rate reached 1.5% in May, according to the estimates provided by eight “censored” economic consultants. They added it was their duty to inform about data which “the government tries to hide from public opinion”.

• Tuesday, June 14th 2011 - 22:31 UTC

  Korean Hyundai to ensure local market agrees to export Argentine bio-diesel and soy flour

  

  Korea’s Hyundai reached an agreement with the Argentine government by which it will compensate its 91 million US dollars surplus on sales to the local domestic market by promoting exports of peanuts, wine, bio-diesel and soy flour to the tune of 157 million US dollars.

• Tuesday, June 14th 2011 - 22:20 UTC

  Facebook preparing for public offering; company value over 100 billion USD

  

  Facebook is preparing to file for an initial public offering as early as October or November that could value the popular social networking site at more than 100 billion US dollars, financial news channel CNBC reported this week.

• Tuesday, June 14th 2011 - 21:42 UTC

  Timberland sold for 1.8bn USD with a 43% premium for shareholders

  

  US clothing giant VF Corporation, parent of brands including The North Face, Wrangler jeans and Nautica, will buy Timberland for about 1.8 billion US dollars in cash, the companies announced Monday.

• Tuesday, June 14th 2011 - 21:07 UTC

  Volcanic ash cloud forces the re-programming of Mercosur technical meeting

  

  The 83rd ordinary meeting of the Common Market Group in the framework of Mercosur and which was scheduled for this week has been re-programmed for June 16 and 17, because of the volcanic ash cloud that has disrupted normal air traffic.

• Tuesday, June 14th 2011 - 20:47 UTC

  EU/Mercosur trade talks are frozen on the “edge of the cliff”

  

  Trade talks between Mercosur and the European Union have been frozen on the “edge of the cliff” because of the European debt crisis, differences over agriculture subsidies and other crucial issues according to sources in Brazil from both sides.

• Tuesday, June 14th 2011 - 17:06 UTC

  Seatrade Conference: South America cruise vessel operating costs ‘unbearable’

  

  Cruise vessel operating costs in South America are becoming unbearable according to company representatives speaking at the South America Seatrade Conference.

• Tuesday, June 14th 2011 - 16:56 UTC

  UN forecasts unemployment in Latin America will drop below 7% in 2011

  

  The strong economic recovery of Latin America and the Caribbean will make it possible to bring down unemployment significantly from 7.3% in 2010 to between 6.7% and 7.0% in 2011, according to ECLAC and ILO.

• Tuesday, June 14th 2011 - 15:12 UTC

  One in six Argentine children aged 5-17 forced to work to help their families

  

  An estimated 17.6% of Argentine children between the age of 5 and 17 living in urban areas are forced to work, according to a report from the Argentine Catholic University, UCA, released last week.