Economy

• Wednesday, February 23rd 2011 - 07:25 UTC

  Brazil’s Bovespa and Shanghai Stock Exchange sign link agreement

  

  The Shanghai Stock Exchange and Brazil's BM&F Bovespa signed this week an agreement that could lead to closer ties between the two. Bovespa said it was looking for cross-listing across both exchanges, although this would not happen immediately.

• Wednesday, February 23rd 2011 - 07:09 UTC

  Santander selling insurance business in Latam to Swiss company

  

  Switzerland’s largest insurer, Zurich Financial Services, has agreed to pay as much as 2.1 billion US dollars for 51% of Banco Santander’s insurance business in Brazil, Mexico, Chile, Argentina and Uruguay.

• Wednesday, February 23rd 2011 - 07:02 UTC

  OPEC promises to compensate for any oil drop off by unrest in Middle East

  

  Trying to calm turbulent oil markets, Saudi Arabia's Oil Minister said on Tuesday that the Organisation of the Petroleum Exporting Countries (OPEC) was ready to pump more oil to compensate for any drop-off caused by unrest in the Middle East.

• Wednesday, February 23rd 2011 - 06:33 UTC

  Brazil’s top private banker denies any risk of a credit bubble in the country

  

  The president of Brazil’s private bank Itau brushed aside risks of a credit bubble in the country and underlined that sustained economic growth will be rewarded by an expansion of between 15% and 20% in its credit portfolios in 2011.

• Wednesday, February 23rd 2011 - 06:24 UTC

  Ireland flatly opposes beef quotas in current EU/Mercosur trade talks

  

  Beef quotas being sought by the Mercosur countries as part of the ongoing negotiations with the EU were “simply not acceptable”, said Ireland’s Minister for Agriculture, Brendan Smith.

• Tuesday, February 22nd 2011 - 06:58 UTC

  Pan American Energy, --partly Chinese owned--, keeps expanding in Argentina

  

  Argentina's Pan American Energy will sign a deal later this month to buy Exxon Mobil local downstream unit Esso, turning the company into a fully integrated oil and gas producer. Pan American Energy is a unit of Bridas Corp., which is jointly owned by Argentina's Bulgheroni family through Bridas Energy Holdings and China's Cnooc Ltd.

• Tuesday, February 22nd 2011 - 06:42 UTC

  Argentina has ignored Mercosur rules and is now harvesting the benefits

  

  Even when Uruguay and Brazil are in the course of reaching understandings with Argentina regarding the latest trade restrictions to be implemented by President Cristina Fernandez de Kirchner administration, ‘which are not targeted against Mercosur members’, the Brazilian press presents another angle.

• Tuesday, February 22nd 2011 - 06:19 UTC

  “Multiple fatalities” as quake strikes New Zealand’s second city at busy mid-day

  

  Rescuers dug frantically for bodies and people trapped after a major 6.3 earthquake caused “multiple” deaths in New Zealand's second city of Christchurch Tuesday, crushing buildings and vehicles.

• Tuesday, February 22nd 2011 - 06:11 UTC

  Ireland main parties’ leaders pledge to condition any trade deal with Mercosur

  

  Leaders of Ireland’s three main parties pledged on Monday to oppose any trade deal with Mercosur countries which could damage Irish exports if EU standards of production are not adhered to, reports the Irish Times.

• Tuesday, February 22nd 2011 - 04:18 UTC

  Uruguay/Argentina working on ‘fast track’ to address trade differences

  

  Uruguay and Argentina are discussing a ‘fast track’ mechanism that will allow Uruguayan exports to have quick access to the neighbour’s market thus avoiding the controversial trade restrictions recently announced by the administration of President Cristina Fernandez de Kirchner and which have surprised Mercosur partners.