Economy

Tuesday, March 9th 2010 - 07:32 UTC
Brazil/US WTO cotton retaliatory dispute takes off

Brazil announced Monday it would levy a total of 591 million US dollars in retaliatory tariffs on US goods under a ruling against US cotton subsidies granted by a World Trade Organization last year. However Brazil also sent a conciliatory message.
Monday, March 8th 2010 - 09:22 UTC
Latinamerica forecasted to expand 3% or more, this year

The Latinamerican economy is poised to expand 3% or more in 2010, the year that will signal the beginning of recovery for the region according to the Inter American Development Bank, (IDB), President Luis Alberto Moreno.
Monday, March 8th 2010 - 07:48 UTC
Argentine government tells Congress it will pay debts with reserves

Argentine government officials reiterated over the weekend that despite efforts from the opposition to stop the Government, it would service the public debt with the Central Bank foreign reserves.
Monday, March 8th 2010 - 07:44 UTC
Brazil cutting liquidity but preparing plan to promote exports

Brazil is preparing a package of incentive but this time to promote exports which suffered significantly last year because of the global slowdown, announced Finance minister Guido Mantega in an inteview with Folha de Sao Paulo.
Monday, March 8th 2010 - 07:25 UTC
Encouraging signals from US job market even when unemployment is 9.7%

Encouraging news from the United States labour market: employers shed fewer jobs than expected in February, cutting 36,000 jobs. This was better than the 50,000 analysts had been expecting.
Monday, March 8th 2010 - 07:15 UTC
Sarkozy promised support for Greece “or else there will be no more Euro”

France will support Greece following its efforts to reduce its deficit and has no intention of seeing the country fall by the wayside because the reason for creating the Euro is at stake, French President Nicolas Sarkozy said.
Monday, March 8th 2010 - 07:01 UTC
Yorkshire pudding makers with 18th century recipe fight for EU legal protection

Yorkshire pudding makers have launched a bid to gain European legal protections currently enjoyed by other regional delicacies such as Scotch whisky and champagne. Under EU law, businesses in other countries can be prevented from making products which are named after specific regions of the European Union.
Saturday, March 6th 2010 - 11:59 UTC
Argentina trusts it will reach understanding with bond holders’ end of March

Argentina will make an offer to restructure the 20 billion US dollars of defaulted debt by the end of this month, Economy Minister Amado Boudou said on Friday.
Saturday, March 6th 2010 - 11:45 UTC
Brazil approaching the moment interest rates can only be increased

Brazilian annual inflation rose above government target (4.5%) levels for a second consecutive month in February reaching 4.83%, up from 4.59% in January, Brazilian Census and Geography Bureau, or IBGE, said Friday.
Saturday, March 6th 2010 - 11:40 UTC
China promised to reverse income gap between rich and poor

Chinese Premier Wen Jiabao has said China must reverse its widening income gap between rich and poor. He said benefits of a growing economy - expected to expand by 8% this year - should be distributed more fairly.