Economy

• Monday, May 3rd 2010 - 04:14 UTC

  Auto Industry Investment Plans Confirm Brazil as One of Five Main Global Markets

  

  The Brazilian automotive industry will invest 11.2 billion US dollars over the next two years to 2012, an amount that tops the 8.1 billion of the three preceding years, local media said Saturday.

• Monday, May 3rd 2010 - 02:24 UTC

  Euro Zone and IMF Agree to 110 Billion Euro Aid for Greece; Summit in Brussels

  

  Euro zone members and the IMF have agreed to a 110 billion Euro (146.2 billion US dollars) three-year bailout package to rescue Greece's embattled economy. In return for the loans, Greece will make major austerity cuts which Prime Minister George Papandreou said involved “great sacrifices”.

• Saturday, May 1st 2010 - 08:36 UTC

  Argentina Publishes Terms of the Defaulted 20 Billion Bonds Swap

  

  The Argentine government has published the offer to swap 20 billion US dollars in defaulted bonds on specialized media around the globe and on www.argentina2010offer.com website.

• Saturday, May 1st 2010 - 07:28 UTC

  Euro Zone Leading Bank Praises Latam Growth and Financial System

  

  Latin America currently has “the best financial system in the world”, said Francisco Luzón, member of the Board and head of the Latin American Division of Spain’s Banco Santander (NYSE:STD), the biggest bank by market capitalization in the Eurozone.

• Saturday, May 1st 2010 - 07:21 UTC

  China at the Centre of the World with the Opening of Shanghai World Expo

  

  The Shanghai World Expo has got underway Friday evening with a dazzling display of artistic performances, fancy fireworks and high technologies at the opening ceremony.

• Saturday, May 1st 2010 - 02:16 UTC

  Taxes in UK Must Rise Sharply Anticipates Think Tank

  

  Taxes in Britain must rise sharply over the next decade to bring down borrowing, according to the National Institute of Economic and Social Research (NIESR). In a report, the think tank said taxes would have to rise by the equivalent of 6p on the basic income tax rate to get the budget deficit below 3% by 2020.

• Saturday, May 1st 2010 - 02:13 UTC

  US Economy Expands 3.2%, Third Consecutive Quarter of Growth

  

  The US economy grew in the first three months of this year, but at a slower rate than the previous quarter. US consumer spending saw its biggest increase in three years in the first three months of 2010, which drove the country's overall economy to its third consecutive quarter of growth.

• Saturday, May 1st 2010 - 01:07 UTC

  Brazilian Central Bank Purchases Dollars to Limit Gains in the Real

  

  Brazil’s Real fell on Friday for the first time in three days as the government stepped up efforts to limit gains in the currency. The real lost 0.6% to 1.7384 per dollar at the end of the week after increasing 2.4% in April and 1.1% for the week.

• Thursday, April 29th 2010 - 07:18 UTC

  Farm Exports Leading Latam Strong Recovery, Says FAO

  

  Latinamerica and the Caribbean are undergoing a strong recovery boosted mainly by agriculture exports, said José Graziano da Silva, head of FAO’s regional office in Panama, during the presentation of the Report on Agriculture and Rural Development 2010 Prospects for Latinamerica.

• Thursday, April 29th 2010 - 07:03 UTC

  Fearing an Over-Heated Economy Brazil Hikes Basic Rate 75 Points to 9.5%

  

  Central Bank of Brazil increased on Wednesday the benchmark interest rate for the first time in 19 months in an effort to cool an economy forecast to expand 6% this year, one of the highest rates in two decades.