Economy

• Tuesday, March 23rd 2010 - 23:02 UTC

  One out of five Spaniards “below the threshold of poverty”

  

  Spain’s economic crisis had devastating effects on the quality of life of the population during 2009. According to a damning survey on living conditions in the country published by the National Statistics Institute (Instituto Nacional de Estadisticas) 13.7% of households in Spain had “great difficulty” in making ends meet at the end of each month.

• Tuesday, March 23rd 2010 - 22:56 UTC

  UK consumer inflation falls to 3% in February

  

  Lower prices of toys and games have contributed to a fall in the UK's headline rate of inflation to 3% - closer to the Bank of England's 2% target. The Consumer Prices Index (CPI) fell to 3% in February from 3.5% in January, new figures from the Office of National Statistics (ONS) show.

• Tuesday, March 23rd 2010 - 22:10 UTC

  Uruguay on the world’s viticulture map with its distinctive Tannat wines

  

  Argentina has its Malbec; Chile has its Carmenere and now Uruguay, not to be out-classed by its more famous wine-producing neighbours, is taking the world of viticulture by storm, with its distinctive Tannat wines.

• Tuesday, March 23rd 2010 - 03:32 UTC

  European Union remains divided over monetary aid to Greece

  

  The president of the European Commission challenged German Chancellor Angela Merkel to rise above domestic politics and agree on a financial safety net for debt-stricken Greece to help preserve European monetary union.

• Tuesday, March 23rd 2010 - 03:30 UTC

  Bloated budget with limited margin, for Lula da Silva’s successor

  

  Whoever succeeds Brazilian President Lula da Silva next January will receive a budget highly committed to infrastructure and with limited margin for economic decision-making according to Sunday reports in the Rio do Janeiro press.

• Tuesday, March 23rd 2010 - 03:18 UTC

  Green light for Argentina to restructure 20 billion in defaulted debt

  

  Argentina has US regulatory approval to restructure 20 billion USD in defaulted debt and expects to launch the deal within three weeks, announced the government on Monday.

• Tuesday, March 23rd 2010 - 03:03 UTC

  Cuban farmers pushing for greater autonomy to produce and sell crops

  

  Cuban farmers are pressing for greater autonomy to produce and sell their crops, blaming government inefficiency for Cuba’s falling food output despite agricultural reforms introduced by President Raúl Castro.

• Monday, March 22nd 2010 - 21:13 UTC

  British Airways says three-day strike has cots £ 21 million

  

  British Airways has said Unite's three-day strike will have cost it £21 million under its “current best estimate”. BA also said that contingency plans to cope with the strike had been “very successful” and that results for the year to March 31 would be “broadly unchanged”.

• Monday, March 22nd 2010 - 21:08 UTC

  “Slow and sluggish” UK economy in 2010 forecasts British Industry

  

  The UK economy is in for a “bumpy ride” in 2010, according to a report from the UK's largest employers' group. Growth will remain fragile and the economy will be “slow and sluggish” as Government stimulus measures - like the VAT cut and the car scrappage scheme - are phased out, the Confederation of British Industry (CBI) said.

• Monday, March 22nd 2010 - 20:53 UTC

  IDB agrees to 70 billion USD capital increase and condones Haiti’s debt

  

  The Inter American Development Bank’s (IDB) board agreed to a 70 billion US dollars capital increase, an amount that should allow the organization to lend 12 billion a year, bank President Luis Alberto Moreno said during the annual meeting in Mexico.