Economy

• Tuesday, February 8th 2011 - 05:29 UTC

  Egypt attempts to put the economy back on movement

  

  The Egyptian government is struggling to finance itself as foreign investors pull out and the currency drops. It had to scale down a bond auction on Monday as state-owned banks failed to stump up enough cash.

• Tuesday, February 8th 2011 - 05:17 UTC

  Mujica calls on the ruling coalition “not to kill the golden eggs hen” of investment

  

  Uruguayan president Jose Mujica called on the ruling coalition to restrain public comments on wealth distribution or re-distribution underlining that the “golden eggs’ hen” is private investment so please “don’t kill the hen”.

• Tuesday, February 8th 2011 - 05:08 UTC

  Petrobras third largest oil company on market capitalization

  

  Based on market capitalization Brazilian government managed oil and gas company Petrobras ranked third worldwide according to the prestigious PFC Energy 50 list of the world's biggest energy companies.

• Tuesday, February 8th 2011 - 05:03 UTC

  Argentine industry warns: inflation is like a hard drug that creates “illusions and social tensions”

  

  Argentina’s Industrial Union’s vice president, and FIAT Argentina’s head Cristiano Ratazzi, warned Monday that “inflation is like a drug that creates illusions but also social tensions”.

• Tuesday, February 8th 2011 - 01:08 UTC

  EU top official says “this is the moment” for a trade agreement with Mercosur

  

  European Union Trade commissioner Karel de Gutch said Monday he strongly believes the EU will reach a trade agreement with Mercosur because “this is the moment” and both sides are committed to conclude negotiations positively.

• Monday, February 7th 2011 - 20:54 UTC

  Geithner implicitly endorses “capital controls” during Brazilian visit

  

  US Treasury Secretary Timothy Geithner reached out to Brazil by citing a shared concern - China - and endorsing Brazil's approach for dealing with global economic distortions.

• Monday, February 7th 2011 - 20:46 UTC

  AOL pays 315 million for online newspaper The Huffington Post

  

  Former internet media giant AOL is buying the online newspaper The Huffington Post for 315 million US dollars in a bid to regain its position as a leading producer of web content, the companies announced Monday.

• Monday, February 7th 2011 - 20:41 UTC

  Argentina conditions luxury car imports to deals with Mercosur auto-parts industry

  

  Argentina has stopped the import of high-class luxury cars and redoubled efforts to convince companies with no assembly plants in Mercosur to reduce imports and reach export agreements with Argentine auto parts industry.

• Monday, February 7th 2011 - 14:01 UTC

  Chilean wine exports recover in 2010 and reach 1.5 billion US dollars

  

  Last year was a great year for Chilean wine exports. Despite the drop in wine exports that followed the 2008 financial crisis, in 2010 the wine industry reported sales of 1.5 billion US dollars, a 12.4% increase over 2009.

• Sunday, February 6th 2011 - 21:02 UTC

  Geithner visits Brazil to discuss economic and financial cooperation

  

  United States Treasury Secretary Tim Geithner will visit Monday Brazil to discuss economic cooperation. Geithner is scheduled to return on the same day.