Economy

• Tuesday, February 22nd 2011 - 03:52 UTC

  FT warns Brazil could be approaching a “US like sub-prime” situation

  

  The Financial Times warns that in spite of the current optimism about the performance of the Brazilian economy, the country could be heading to a ‘sub-prime’ crisis ‘worryingly’ similar to that experienced by the United States.

• Tuesday, February 22nd 2011 - 00:19 UTC

  President Rousseff promises Brazilian economy will speed up in 2012

  

  Brazil’s economy will pick up speed in 2012, said President Dilma Rousseff on Monday addressing northeast governors concerned that recent announced budget cuts could limit economic activity and support for the area that depends from federal handouts.

• Tuesday, February 22nd 2011 - 00:03 UTC

  China raised fuel prices for the second time in three months

  

  China has raised fuel prices for the second time in three months as it looks to offset a jump in global crude costs. However, the move has raised questions over government attempts to slow inflation.

• Tuesday, February 22nd 2011 - 00:00 UTC

  A fatiguing marathon ahead for debt strained Euro zone countries, says ECB

  

  European Central Bank policymaker Axel Weber said that debt-strained Euro zone countries must make the most of the breathing space bought by aid measures and warned them the hardest part of the reform process was still ahead.

• Monday, February 21st 2011 - 17:25 UTC

  Gold above 1.400 USD and silver at 30 year record as investors take refuge

  

  Gold climbed above 1,400 US dollars an ounce to the highest price in almost seven weeks in London as unrest in the Middle East and North Africa spreads. Silver reached a 30-year high and palladium advanced.

• Monday, February 21st 2011 - 16:39 UTC

  Weak dollar, strong peso batters Chilean tourism industry

  

  The tourism industry in Chile is going through a very bad moment with a notorious drop in the number of visitors in recent months claim the private sector and local councillors from the city of Viña del Mar, one of the country’s main sea resorts.

• Monday, February 21st 2011 - 07:09 UTC

  Argentina satisfied with G20 proposal to stimulate food production

  

  Argentina is satisfied with the outcome of the G-20 ministerial meeting after the proposal to regulate commodities prices was turned down, particularly in the food chapter, and because it was agreed that the best way to address current tensions is to stimulate supply.

• Monday, February 21st 2011 - 07:03 UTC

  G20 reaches deal on indicators to detect economic imbalances

  

  The G20 have reached a deal on indicators to detect economic imbalances, the French presidency said, after the meeting ended in Paris. The world's leading economies agreed on a compromise after “frank, sometimes tense” negotiations, French Finance Minister Christine Lagarde said.

• Saturday, February 19th 2011 - 06:19 UTC

  Ambitious Uruguayan trade and investment incursion to India

  

  Considered one of the most ambitious trade and investment incursions to Asia, a delegation of Uruguayan business people headed by Vice-president Danilo Astori begins Saturday a seven-day official visit to India.

• Saturday, February 19th 2011 - 06:08 UTC

  Argentine economy expanded 9.1% in 2010, announces Cristina Kirchner

  

  President Cristina Fernandez de Kirchner announced Friday that Argentina’s economy is 2010 expanded 9.1% and unemployment in the fourth quarter experienced a further drop and now stands at a record low of 7.3%.