Economy

• Friday, November 12th 2010 - 05:10 UTC

  G-20 drafts a “standstill” compromise declaration to avoid protectionism

  

  Leaders of the Group of 20 (G20) member nations meeting in Korea are expected to reach a compromise Friday on trade and currency issues that have so far marred the spirit of the global gathering, in a bid to make headway in the G20 process and keep the two-year-old global policy forum afloat.

• Friday, November 12th 2010 - 00:50 UTC

  Deepest austerity measures in decades stall Spanish economy recovery

  

  Spain’s economy stalled in the third quarter as the deepest austerity measures in three decades, aimed at taming the Euro region’s third-biggest budget deficit, undermined the recovery from an almost two-year recession.

• Friday, November 12th 2010 - 00:34 UTC

  China’s inflation peaks 4.4% in October pushed by food prices and tight supplies

  

  China's consumer price index (CPI), a major gauge of inflation, reached its 2010 peak in October but the tendency is likely to slow down over the rest of the year, a report from the Bank of Communications forecast on Thursday.

• Thursday, November 11th 2010 - 22:04 UTC

  Latin American leaders at G-20 call for responsibility from rich countries

  

  Leaders from Brazil, Mexico and Argentina in the framework of the G-20 summit in Korea called on rich countries for a commitment to end the “currencies war” and ensure balanced growth out of the current crisis.

• Thursday, November 11th 2010 - 06:16 UTC

  “The dollar strength rests on the fundamental strength of the US economy”

  

  Following is a text of a letter from President Barack Obama to G20 leaders due to meet in Seoul from tomorrow. The letter was sent on Tuesday.

• Thursday, November 11th 2010 - 06:15 UTC

  Obama arrives in Seoul but a G-20 summit consensus still out of reach

  

  President Barack Obama tried to swing the G20 spotlight back onto global imbalances and take his own country's policies out of the glare as world leaders gathered in Seoul.

• Thursday, November 11th 2010 - 06:07 UTC

  India set to become second largest copper consumer by 2020

  

  COCHILCO, Chile’s copper commission, estimates that by the end of this decade, India’s demand for copper will rise from the current figure of 610,000 tons to between 2.4 million and 3.6 million tons annually.

• Thursday, November 11th 2010 - 01:09 UTC

  Uruguayan officials with different visions how to address risk of “asset bubbles”

  

  As in most of the rest of the world, conflicting visions of the latest global monetary events and its impact on emerging economies have surfaced among Uruguay’s top officials responsible for the running of the economy and finances.

• Thursday, November 11th 2010 - 00:16 UTC

  Brazilian “competitive devaluation” risk for Uruguay’s exports

  

  A leading Uruguayan economist warned Wednesday about the risks of being highly dependent on Brazil for foreign trade, particularly since the Uruguayan economy could “be trapped in a competitive edge island”.

• Wednesday, November 10th 2010 - 06:14 UTC

  Cuba prepares for the “orderly” elimination of ration cards effective since 1962

  

  The Cuban government is proposing the orderly elimination of the rations’ card according to a document prepared for the ruling party Communist Congress scheduled for April 2011.