Economy

• Wednesday, April 6th 2011 - 06:13 UTC

  Spain’s official unemployment above 20%, with 43% of young Spaniards jobless

  

  Spain’s official unemployment advanced for a third month in March, deepening the divide between peripheral economies struggling to recover from the financial crisis and Germany’s booming labour market. It was the worst record for Spain since 1996.

• Wednesday, April 6th 2011 - 06:10 UTC

  Venezuela to begin shipping Argentina 12 million barrel of fuel in May

  

  Venezuela will send Argentina 12 million barrels of diesel and fuel oil starting in May, an official from Venezuela's state oil company PDVSA said.

• Wednesday, April 6th 2011 - 05:55 UTC

  Brazil decides to impose anti-dumping tariff on several Chinese synthetic fibres

  

  Brazil will apply import tariffs on specific goods from China and the United States, the latest measures to help stem a flood of cheap imports that is eroding the country's trade balance, according to a statement from the Industry and Trade ministry.

• Wednesday, April 6th 2011 - 05:48 UTC

  IMF paper with proposals on capital controls triggers heated debate

  

  An IMF staff proposal to endorse capital controls in limited circumstances aroused opposition from Brazil and other nations seeking greater freedom to stem inflows of money from overseas.

• Wednesday, April 6th 2011 - 01:39 UTC

  Uruguay’s March inflation soars 1.42% and 3.6% in the first quarter

  

  Uruguay consumer prices soared 1.42% in March, reaching 8.17% in the last twelve months and 3.6% in the first quarter, which is dangerously close to the twelve month government target of 3% to 7%, which theoretically should go down to 4% to 6% next June.

• Tuesday, April 5th 2011 - 22:22 UTC

  Ulster farmers against any EU/Mercosur deal that includes beef and lamb

  

  The Ulster Farmers’ Union has raised concerns over the current trade deal being discussed between the European Union and Mercosur. UFU beef and lamb chairman Ray Elkin said: “The potential for a Mercosur trade deal is of great concern to the UFU, and could have a devastating impact on Northern Ireland’s beef sector in particular.”

• Tuesday, April 5th 2011 - 21:23 UTC

  China anticipating higher inflation hikes interest rate by 25 basis points

  

  China’s central bank announced Tuesday it would raise the benchmark one-year borrowing and lending interest rates by 25 basis points beginning Wednesday. This is the second time that The People’s Bank of China raises the benchmark interest rate this year and the fourth such increase since the start of last year.

• Tuesday, April 5th 2011 - 21:11 UTC

  EU official optimistic about the next round of trade negotiations with Mercosur

  

  The European Union and Mercosur have a clear commitment to advance trade negotiations and conclude a deal, if possible, by the end of the year, if not at the beginning of next year when Argentina will again hold the rotating chair of the South American group.

• Tuesday, April 5th 2011 - 10:11 UTC

  Uruguay has no plans to issue new debt: 2011 obligations comfortably covered

  

  Uruguay's economy minister said the country had no concrete plan to issue new debt because it had already covered 2011 obligations and debt servicing costs will fall in 2012. Nevertheless he complained about the “poor treatment” of Uruguay by the risk rating agencies.

• Tuesday, April 5th 2011 - 10:08 UTC

  Based on signs of greater fiscal restraint, Fitch raises Brazil’s credit rating to BBB

  

  Brazil’s credit rating was raised one level by Fitch Ratings, which cited the economy’s growth prospects and budget policy under President Dilma Rousseff.