Economy

Tuesday, May 31st 2011 - 08:13 UTC
Fiat was saved from collapse by sales in Latin America admits CEO Marchionne

Fiat and Chrysler Group president Sergio Marchionne said on Monday that car sales in Latin America saved the corporation’s balance sheet last year and announced an overall increase in car sale operations in accordance with regional demand.
Tuesday, May 31st 2011 - 08:06 UTC
Strong tendency to lower inflation in coming months is forecasted in Brazil

Brazil Central Bank head of Monetary Policy Aldo Mendes anticipated Monday that inflation in the coming two/three months will be almost flat, close to zero and supported his forecast on the food prices inflexion tendency.
Tuesday, May 31st 2011 - 07:47 UTC
Brazil plans massive infrastructure investment in next four years

Brazil’ president of the Economic and Development Bank, BNDES, Luciano Coutinho said that the country’s investment rate in the coming four years will be equivalent to 23% of GDP, sufficient to ensure a sustained robust long term growth of Latin America’s largest economy.
Tuesday, May 31st 2011 - 07:43 UTC
China: Yuan at record high against US dollar; Power shortage and higher prices

China's Yuan has hit a record high against the US dollar after the US Treasury department said the Chinese currency was undervalued but not manipulated. The People's Bank of China (PBOC) fixed the Yuan's mid-point at 6.4856 against the US dollar on Monday.
Tuesday, May 31st 2011 - 03:02 UTC
Major setback for Mexican telecommunications tycoon and richest man in the world

Telefonos de Mexico SAB, the country’s largest phone carrier plunged the most in the stock market since December 2008 after the government rejected its application to start offering video services.
Monday, May 30th 2011 - 06:05 UTC
Ex Brazilian minister calls for treating Argentina gently, “not with a cannon ball”

Former Brazilian Industry and Foreign Trade Minister Miguel Jorge decided to weight in on the bilateral trade conflict currently affecting Brazil and Argentina, and surprisingly came out in defence of the Cristina Fernández de Kirchner administration, comparing President Rousseff’s move to impose non-automatic licenses on car and auto-parts imports as “firing a cannon ball.”
Monday, May 30th 2011 - 05:51 UTC
CFK ratified her administration’s economic policies before Mexican business elite

Argentine president Cristina Fernandez de Kirchner ratified before Mexican businessmen that her government will continue to advance the current ‘development inclusion model’ with strong policies in support of the domestic market and exports with added value.
Monday, May 30th 2011 - 02:39 UTC
Latam’s largest bank has requested to operate in Uruguay as commercial bank

Banco do Brasil, Latin America’s largest financial institution has requested a licence to operate in Uruguay as a commercial bank according to the Brazilian government’s news agency.
Monday, May 30th 2011 - 00:50 UTC
Rousseff visits Uruguay to sign 12 accords on trade, integration and technology

Brazilian president Dilma Rousseff arrives Monday in Uruguay, the third country she will be visiting after China and Argentina, since taking office last January first. The two countries are founding full members of Mercosur and Brazil is Uruguay’s main trade partner.
Saturday, May 28th 2011 - 08:21 UTC
Latam has “unprecedented opportunity” to double GDP in next 14 years

The nations of Latin America and the Caribbean have an unprecedented opportunity to attain human development standards comparable to the industrialized world by 2025, Inter-American Development Bank President Luis Alberto Moreno said on Friday.