Economy

• Sunday, May 22nd 2011 - 13:26 UTC

  Argentine economic activity expands 7.8% in March over a year ago

  

  Economic activity in Argentina expanded 7.8% in March compared to the same month a year ago and 0.5% over February, according to the provisional percentages from the government’s National Statistics Institute, INE.

• Sunday, May 22nd 2011 - 13:09 UTC

  Greece’s credit rating downgraded and risks a ‘sovereign default’

  

  Greece’s credit rating was cut on Friday three levels by Fitch Ratings, which said that even a voluntary extension of its bond maturities being studied by EU policy makers would be considered a default.

• Sunday, May 22nd 2011 - 12:58 UTC

  Standard & Poor’s ‘yellow card’ for Italy; promise of balanced budget in 2014

  

  Italy’s Treasury said it will “intensify” structural changes in the economy and push ahead with measures to balance the budget by 2014 after Standard & Poor’s said its debt rating is at risk of a downgrade.

• Sunday, May 22nd 2011 - 12:32 UTC

  European powers endorse French minister Lagarde as next IMF chief

  

  European leaders raced Saturday to nominate a successor for fallen IMF chief Dominique Strauss-Kahn before a G8 summit in France next week, with French Economy Minister Christine Lagarde in pole position.

• Saturday, May 21st 2011 - 10:18 UTC

  Delhi proposal to triangle South Africa Customs Union, India and Mercosur

  

  India will be launching negotiations for a comprehensive economic cooperation agreement (CECA) with Mercosur although it will first “expedite” talks for a preferential trade agreement with the South African Customs Union (SACU).

• Saturday, May 21st 2011 - 09:59 UTC

  Argentina posts strong primary surplus pushed by economic growth and inflation

  

  Argentina posted a primary budget surplus 1.97 billion Pesos (455 million US dollars) in April, up 4.8% from the 1.88 billion Peso surplus a year earlier, the government said on Thursday.

• Saturday, May 21st 2011 - 09:56 UTC

  Spaniards take to cities’ plazas and call for a protest no-vote in Sunday’s local elections

  

  Tens of thousands of Spaniards angry over unemployment protested for a sixth day, ahead of Sunday's local elections in which the ruling Socialists are expected to suffer heavy losses.

• Saturday, May 21st 2011 - 09:45 UTC

  Lipsky calls for continued support for ‘shaky’ economies in Europe

  

  The global economic recovery is accelerating but remains vulnerable to setbacks said IMF acting Managing Director John Lipsky said as he urged continued international support for shaky economies in Europe.

• Saturday, May 21st 2011 - 09:40 UTC

  Inflation expectations in Argentina for the next twelve months: 29.5%

  

  Inflation expectations for the next twelve months in Argentina dropped to 29.5% in May from 30.3% in April according to the latest report from the Financial Investigation centre from the Torcuato Di Tella University, CIF.
  This is the first time in twenty months that the index is below 30%.

• Saturday, May 21st 2011 - 09:34 UTC

  Brazil/Argentine dispute abating as trade begins to normalize

  

  The trade dispute among Mercosur main partners seems to be abating from the moment Brazil authorized on Friday the introduction of 1.000 cars manufactured in Argentina that had been retained in Customs since the implementation of non automatic import licences.