Economy

• Tuesday, June 7th 2011 - 22:00 UTC

  Airlines suspend flights from Uruguay, fearing the volcanic ash cloud

  

  Flights from Uruguay’s Carrasco international airport were suspended on Tuesday until further notice because of the proximity of Chile’s Puyehue volcano ash cloud that on Monday forced similar decisions for Buenos Aires City main international and domestic air terminals.

• Tuesday, June 7th 2011 - 21:51 UTC

  Uruguay complains about low ratings from the risk agencies

  

  Economy minister Fernando Lorenzo accused rating agencies of failing to recognize the increasing strength of Uruguay’s sustained economic growth and therefore denying its investment grade status.

• Tuesday, June 7th 2011 - 14:33 UTC

  Ash cloud reaches Buenos Aires city at 5.000 metres height; all flights cancelled

  

  The Chilean volcano Puyehue ash cloud has reached the Argentine capital after moving across the Greater Buenos Aires, but the due effects of the cloud are seen to be minimal. Meanwhile local airlines confirmed cancelled all flights until further notice at the international airport of Ezeiza and at the domestic-flights metropolitan Aeroparque.

• Tuesday, June 7th 2011 - 06:07 UTC

  Argentina hosts first meeting of Unasur Economy and Finance Council

  

  Argentina will be hosting on Thursday the first meeting of the South American Economy and Finance Council that will bring together Economy ministers and Central bank governors from members of Unasur, Union of South American Nations.

• Tuesday, June 7th 2011 - 03:54 UTC

  “Day after” election jitters surface in Argentina’s capital and money markets

  

  Argentina’s capital flight is forecasted to reach 17 billion US dollars in 2011, above the 11.4 billion of last year because of electoral year uncertainties, and in spite of a larger trade surplus.

• Tuesday, June 7th 2011 - 03:27 UTC

  IMF backs UK plan to reduce deficit but warns on weak growth

  

  The International Monetary Fund backed the British government's plans to reduce the budget deficit, but said tax cuts or more quantitative easing may be needed if growth proves persistently weak.

• Tuesday, June 7th 2011 - 00:55 UTC

  EU aid for farmers hurt by fresh produce slump triggered by E-coli outbreak

  

  European Union farm ministers will try on Tuesday to agree financial aid for fruit and vegetable producers whose sales have been hit by an E.coli outbreak that has so far claimed at least 22 lives in Europe and triggered a scare in fresh produce consumption.

• Monday, June 6th 2011 - 23:20 UTC

  Chile’s Concha y Toro CEO among the top ten “2011 Power List” of wine world

  

  Eduardo Guilisasti, CEO of Chile’s Concha y Toro winery, placed ninth on Decanter magazine’s recently released “2011 Power List.” The bi-annual ranking lists the 50 most influential people in the winemaking world based on their level of influence over consumer choice in wine. This year’s list elevated Guilisasti from his 2009 ranking as 13th.

• Monday, June 6th 2011 - 21:33 UTC

  Brazilian exporters warn of de-industrialization because of massive imports

  

  The increase in imports during the first quarter of this year could indicate Brazil has begun a de-industrialization process, cautioned Jose Augusto de Castro, president of the country’s Foreign Trade Association, AEB.

• Monday, June 6th 2011 - 18:13 UTC

  Falklands approves £ 45.5million 2011/2012 budget with a surplus

  

  The Falkland Islands ended the approval process for the 2011/2012 budget, following the positive report from Financial Secretary Keith Padgett to the Legislative Assembly budget session.