Economy

• Tuesday, October 5th 2010 - 23:20 UTC

  Brazil doubles tax on foreign investors buying local bonds and fixed return assets

  

  Brazil doubled this week the tax on foreign investors buying local bonds or making deposits in fixed returns in an attempt to curb a currency rally that has turned into an issue in the country's presidential race.

• Tuesday, October 5th 2010 - 22:50 UTC

  Latin America poised to grow 5.5% to 6% this year, says IDB

  

  Latin America is poised to expand between 5.5% and 6% this year based on the sustained improvement of commodities pirces, productivity gains and domestic market expansion, said the president of the Inter American Development Bank, IDB, Luis Alberto Moreno.

• Monday, October 4th 2010 - 22:40 UTC

  Zoellick calls for the reinstatement of emergency food aid program

  

  World Bank president Robert Zoellick expressed concern about the renewed speculation with agriculture commodities which in the last months have seen prices of food in developing countries soar

• Monday, October 4th 2010 - 22:38 UTC

  World Bank sees “currency devaluations” tensions and “bubble” risks

  

  World Bank President Robert Zoellick said he sees tensions arising from currency devaluations as nations seek to boost their economies, though he doesn’t expect them to turn into “wars.”

• Monday, October 4th 2010 - 03:53 UTC

  Uruguay’s debt/GDP ratio down after five quarters running increases

  

  Uruguay’s gross public sector debt contracted in the second quarter of the year after five consecutive periods of sustained increase and now stands at 21.885 billion US dollars equivalent to 59.5% of GDP.

• Monday, October 4th 2010 - 01:19 UTC

  Spain on the steps of the Argentine crisis of 2001, warns Stiglitz

  

  Spain could face a crisis similar to that of Argentina back in 2001 because of its incapacity to create jobs and reduce the fiscal deficit, which makes it an easy prey for international speculators.

• Monday, October 4th 2010 - 00:58 UTC

  Most Irish believe the worst is yet to come; 50 billion Euros to clean bank mess

  

  Most Irish people think the worst is yet to come for their economy and only a minority thinks a change of government could improve the situation, a poll showed.

• Saturday, October 2nd 2010 - 06:07 UTC

  Chilean government copper related income estimated to double this year

  

  The Chilean government could see its copper-related income nearly double this year, according to Gustavo Lagos, of the Mining Centre at Universidad Catolica.

• Friday, October 1st 2010 - 05:13 UTC

  Labour market recession ‘worsening’; recovery delayed until 2015

  

  A new report by the research arm of the International Labour Organization (ILO) says a long “labour market recession” is worsening the social outlook in many countries.

• Friday, October 1st 2010 - 04:56 UTC

  Piñera promises actions to weaken the Chilean peso in next year’s budget

  

  Chilean president Sebastian Piñera on Thursday reiterated that next year's budget would aim to ease a rapidly appreciating currency that is hurting the country’s exporters.