Economy

Tuesday, November 16th 2010 - 04:47 UTC
China and Argentina formalize ‘trade peace” and become ‘strategic partners’

President Cristina Kirchner received China's visiting Agriculture Minister Han Changfu on Monday at Government House in Buenos Aires, formally ending a six month trade war that threatened Argentina's standing as the world's leading soybean oil exporter.
Monday, November 15th 2010 - 21:11 UTC
Bilateral Argentina/Brazil trade forecasted to reach record of 34 billion USD

Bilateral trade among Mercosur main partners, Argentina and Brazil is expected to reach a “historic record” of almost 34 billion US dollars this year, 80% of which mostly manufactured goods, according to Argentine Industry minister Deborayh Giorgi, who also anticipated that the deficit would drop 30%.
Monday, November 15th 2010 - 19:29 UTC
Dilma prepared to apply drastic measures to contain Brazil’s currency surge

Brazilian president-elect Dilma Rousseff admitted her administration would take all the necessary measures possible to prevent the Brazilian Real from increasing its value vis-à-vis the US dollar, according to reports from the Sao Paulo press that interviewed the successor of President Lula da Silva in the recent G-20 summit in Korea.
Monday, November 15th 2010 - 08:27 UTC
Rousseff’s Brazil expected to restrain public spending and lower interest rates

Brazilian President-elect Dilma Rousseff efforts to restrain public spending will allow the central bank to cut the benchmark interest rate next year, Finance Minister Guido Mantega said.
Monday, November 15th 2010 - 08:19 UTC
EU ministers and Ireland discussing possible (80 billion Euro) bailout

Ireland is in talks with European officials about current “market conditions” as Germany pushes it to accept a bailout and help reverse a bond sell-off across the euro-region’s periphery.
Monday, November 15th 2010 - 08:17 UTC
APEC summit in Japan calls for regional free-trade zone, but gives no details

Leaders of the 21-member Asia-Pacific Co-operation (Apec) forum have pledged to move towards creating a regional free-trade area. The agreement was announced at the end of a two-day summit in Yokohama, Japan.
Monday, November 15th 2010 - 08:11 UTC
Business concern in Argentina with inflation trend: “double the official figure”

Argentine businessmen from different sectors showed their concern about the upward trend of the inflation and assured that “the real volume doubles the one reported by the Indec national statistics bureau.”
Friday, November 12th 2010 - 18:10 UTC
Canadian bank interested in setting foot in Uruguay

Nova Scotia bank is close to buying Advent International Corp.’s 54% stake in Uruguay’s Nuevo Banco Comercial, Business News Americas reported on its website.
Friday, November 12th 2010 - 18:01 UTC
Europe ratifies support for Ireland’s budget policy and sovereign debt

Irish Finance minister Brian Lenihan has welcomed a statement of support over Ireland's debts from Germany, Britain, France, Italy and Spain. The five countries attending the G20 summit in South Korea said that bondholders would not be forced to share the pain of the current debt crisis.
Friday, November 12th 2010 - 17:29 UTC
G20 agrees on “indicative guidelines” for imbalances and hopes for the best

Leaders of the Group of 20 (G20) member nations meeting in Korea reached a vague compromise Friday on currency and trade issues, calling for a workable resolution for the next G20 summit in France, slated for November next year.