Economy

• Saturday, April 16th 2011 - 00:13 UTC

  Argentine economy forecasted to expand 8% in 2011 with inflation ranging 25%

  

  Argentina’s 2011 economic growth forecast was raised to 8% from 5% by Nomura Securities International based on a strong surge from domestic demand and rising commodity prices. Government primary spending is expected to continue since 2011 is electoral year.

• Saturday, April 16th 2011 - 00:11 UTC

  Tombini says Brazil is in the middle of a monetary tightening cycle

  

  Brazil is in the middle of a monetary tightening cycle, central bank President Alexandre Tombini said on Friday, days before the bank is expected to announce a hike in the benchmark lending rate.

• Saturday, April 16th 2011 - 00:09 UTC

  China’s trade with BRICS associates surged 45.8% in the first quarter

  

  China's top customs authority announced Friday that trade with the other four BRICS nations surged by 45.8% to reach 59.9 billion US dollars in the first quarter of this year.

• Friday, April 15th 2011 - 18:50 UTC

  China’s 3 trillion USD reserves intensify debate on Yuan convertibility

  

  China's foreign exchange reserves exceeded the mark of 3 trillion US dollars for the first time at the end of March 2011, representing an increase of 24% from a year earlier. China retains the world’s leading position in forex reserves, according to data released by the country’s central bank.

• Friday, April 15th 2011 - 18:44 UTC

  Top banker predicts speculative inflows will continue; China’s stats not so rosy

  

  Speculative money continues to flow into emerging markets, including China, and the situation is likely to continue over the long term, a top executive of China's largest commercial bank said Friday.

• Friday, April 15th 2011 - 18:31 UTC

  Brazil admits most airports won’t be ready for the 2014 World Cup

  

  A Brazilian government report indicates that it will be extremely difficult to get most Brazilian airports ready in time for the 2014 World Cup.
  Renovation work in 10 of the 13 airports which will be used during the month-long tournament will not be completed in time unless there are changes in the investment plans made by Brazil's airport authority, Brazil's Economic Research Institute said in its study.

• Friday, April 15th 2011 - 05:35 UTC

  Developing nations reject IMF rules on capital inflows controversy

  

  Developing nations warned the IMF on Thursday against imposing new rules dictating how they manage capital inflows rushing into their economies, suggesting rich nations take a hard look at their own policies instead.

• Friday, April 15th 2011 - 05:31 UTC

  China’s March inflation fastest since 2008; further tightening anticipated

  

  Inflation in China accelerated in March to the fastest rate since 2008, despite government efforts to cool prices. Consumer prices rose by 5.4% in March compared with a year earlier, the National Bureau of Statistics said. In February, the annual figure was 4.9%.

• Friday, April 15th 2011 - 02:13 UTC

  Mujica promises to control the curse of inflation, but ‘there are no magic solutions’

  

  President Jose Mujica promised there will be no ‘uncontrolled inflation in Uruguay’ and although admitting it’s not a simple problem, with no magic solution, there are “sufficient tools’ to address the issue including putting “government spending on a diet”.

• Friday, April 15th 2011 - 00:12 UTC

  “Other blocks demand too much from Mercosur and offer too little”

  

  Several Mercosur negotiations with other blocks have failed because “they ask too much and offer too little” said Samuel Pinheiro recently appointed Mercosur High Representative and who is holding a round of meetings with member countries’ leaders.