Economy

Friday, April 16th 2010 - 23:40 UTC
US regulator accuses Goldman Sachs of defrauding investors

Goldman Sachs, the Wall Street powerhouse, has been accused of defrauding investors by United States’ financial regulator. The Securities and Exchange Commission (SEC) alleges that Goldman failed to disclose conflicts of interest.
Friday, April 16th 2010 - 04:17 UTC
Argentine bonds’ swap could not be sufficient, warn anks

In spite of Argentine authorities optimism regarding the 20 billion USD bonds’ swap launched on Thursday the Institute of International Finance, (IIF), warned that the initiative could be insufficient to re-establish the country’s full access to voluntary money markets.
Friday, April 16th 2010 - 04:09 UTC
Argentina launches defaulted bonds swap with a 66.3% discount

Argentina offered new bonds to holders of 20 billion US dollars of sovereign debt left out of an earlier settlement, seeking to end a nine-year default and regain access to international capital markets.
Friday, April 16th 2010 - 00:10 UTC
China agrees to invest heavily in Brazilian infrastructure

China and Brazil bolstered their growing ties with trade and investment agreements on Thursday in Brasilia before a summit of the world's top four emerging markets that was cut back after China's leader decided to return home to deal with a major earthquake.
Thursday, April 15th 2010 - 17:19 UTC
Fears of inflation and asset bubbles as China expands 11.9% in first quarter

China's economy expanded 11.9% year on year in the first quarter, indicating a solid recovery of the world's third largest economy, but also fanning concerns of asset bubbles, reports Xinhua.
Thursday, April 15th 2010 - 17:14 UTC
Petrobras completes global presence by acquiring stake in Australian block

Brazilian government managed energy giant Petrobras announced it acquired a 50% stake in an exploration block in Australia with significant natural gas potential. Petrobras acquired the stake from MEO Australia for 39 million USD.
Thursday, April 15th 2010 - 17:11 UTC
Venezuela plans to invest 120 billion USD in developing Orinoco heavy crude

Venezuelan Energy and Oil Minister Rafael Ramirez said some 120 billion USD will be invested over the next seven years in the Orinoco Belt, which the U.S. Geological Survey says is the largest petroleum accumulation it has ever evaluated.
Thursday, April 15th 2010 - 17:08 UTC
Paraguay retains Taiwan diplomatic links and opens trade office with Beijing

Mercosur member Paraguay is reconsidering the terms of its relation with Taiwan, “retaining diplomatic links” but at the same time establishing “formal economic relations with Beijing”, said the country’s Foreign Affairs minister Héctor Lacognata.
Thursday, April 15th 2010 - 17:07 UTC
Spain’s high unemployment a threat for financial system, warns top banker

Spain’s high unemployment is the biggest threat facing the country’s banks, the governor of the Spanish central bank said this week. With the jobless rate approaching 19%, Miguel Angel Fernandez Ordoñez said Spanish politicians need to approve labour reform “soon and with the broadest possible consensus”.
Thursday, April 15th 2010 - 00:36 UTC
China rapidly becoming Latinamerica’s main trade and investment partner

China is set to become Latinamerica’s second trade partner ahead of the European Union and just behind the United States in the next few years according to a report from the United Nations Economic Commission for Latinamerica and the Caribbean, Cepal.