Economy

• Saturday, May 28th 2011 - 08:12 UTC

  IADB credits to Argentina this year will total 1.3 billion USD

  

  The Inter-American Development Bank, IADB, will lend Argentina 1.3 billion US dollars this year, the bulk of which will be used for infrastructure projects, such as expanded roadways and sewage systems as well as a plan to improve neighbourhood conditions, announced president Luis Alberto Moreno.

• Saturday, May 28th 2011 - 08:07 UTC

  Uruguay has the most expensive cattle in the world, says British abattoir

  

  Uruguay has the most expensive cattle in the world in moments when international beef prices tend to slide which makes it very difficult to have a reasonable operation forcing abattoirs to leave workers redundant.

• Saturday, May 28th 2011 - 07:48 UTC

  Weak sterling more significant than VAT for UK inbound tourists, says WTM Vision

  

  Overseas visitors to the UK will not be deterred by high VAT, providing sterling remains weak against key inbound currencies, reveals a report released this week at the World Travel Market (WTM) Vision Conference-London.

• Saturday, May 28th 2011 - 07:35 UTC

  Cooperation agreement to develop sustainable tourism in the Americas

  

  The United Nations World Tourism Organization, UNWTO and the Organization of American States, OAS, have signed a cooperation agreement aimed at developing sustainable tourism policies and enhancing the productivity and competitiveness of the tourism sector in the Americas.

• Saturday, May 28th 2011 - 07:32 UTC

  IMF-head hopefuls visit next week Brazil as part of their global campaign for support

  

  The two leading candidates for the position of IMF Managing director will be visiting Brazil next week. French Finance Minister Christine Lagarde plans to travel to Brasilia on Monday to seek support for her candidacy, the French embassy said Friday.

• Saturday, May 28th 2011 - 07:24 UTC

  Even if US tightens liquidity, hot money to emerging economies will continue

  

  Capital flows to emerging markets won’t significantly slow when the US Federal Reserve ends its bond-purchasing program known as quantitative easing, said Olivier Blanchard, chief economist at the IMF.

• Saturday, May 28th 2011 - 07:21 UTC

  Over 100 injured in Barcelona as police takes protestors with rubber bullets and tear gas

  

  Over 100 people were injured on Friday when police forcibly evicted protesters who have been camped out for two weeks in the main square of Barcelona as part of a nationwide mobilization against youth unemployment, austerity, corruption and the country’s political class

• Saturday, May 28th 2011 - 07:18 UTC

  Tough prospects for Japan: car output down; credit rating lowered and recession

  

  A complicated week for Japan: car production in April plunged as manufacturers continue to face a shortfall in parts supply and credit rating agencies downgraded the outlook on the country’s debt to negative from stable.

• Saturday, May 28th 2011 - 07:03 UTC

  Mexico strikes major gas deposit in Gulf of Mexico deep water drilling

  

  State-owned oil giant Petroleos Mexicanos, Pemex, announced this week it had struck between 400 billion and 600 billion cubic feet of natural gas and condensates at a deepwater well in the Gulf of Mexico.

• Saturday, May 28th 2011 - 00:36 UTC

  Uruguay successfully floats Samurai bonds; warnings of economy over-heating

  

  Interest for Uruguayan ten-year bonds in Yens more than doubled the issue equivalent to 490 million US dollars. The bonds are guaranteed by Japan Bank for International Cooperation with a 1.6% yield.