Economy

• 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.

• Monday, March 22nd 2010 - 20:50 UTC

  Petrobrás second most profitable corporation in US and Latam

  

  Brazilian Government managed energy corporation Petrobras was the second most-profitable company in the US and Latin America in 2009, even ahead of corporations such as Microsoft according to a study released Monday.

• Sunday, March 21st 2010 - 19:47 UTC

  The Dark side of Brazil’s Olympic Dreams: 2016 Olympic Host Battles Poverty, Violent Crime, and Police Brutality

  With colorful and scandalous flourishes, in a nation where the bizarre is often normal, Brazil’s Carnaval kicked off throughout the country on February 12th. The celebration is especially exotic in Rio de Janeiro, Brazil’s second largest city, where the samba dancers’ elaborate talents draw millions of tourists each year.

• Saturday, March 20th 2010 - 02:03 UTC

  Guessing time: Argentine economy expanded or contracted in 2009?

  

  Argentine industrial output grew by 11% in February compared to a year ago and 3.4% over January, powered by car and steel plants feeding demand from neighbouring Brazil, which is recovering faster than expected from the global crisis.