Moody's Investors Service raised Brazil's sovereign debt ratings to investment grade on Tuesday and underlined the resilience of Latinamerica's largest economy to the global financial crisis.
China has appealed a World Trade Organisation (WTO) decision against its restrictions on the import of US DVDs and other media products. The WTO settlement had said China was breaching international trade rules by blocking foreign-owned firms from being importers and wholesalers.
Brazilian billionaire Eike Batista said he may be interested in acquiring a stake in the world’s biggest iron-ore producer Vale do Rio Doce, after one of the company’s shareholders said he showed “interest” in buying its stock.
Argentina has not yet reached a definitive agreement with holdouts from its 2005 debt restructuring, the country's Economy Minister Amado Boudou said on Monday. He added that Argentina's economic strategy is to access the international markets in order to obtain credits.
Argentina reported another sharp drop in the fiscal primary surplus for August, while the overall government accounts were once again in the red. Growth in public spending has outpaced growth in tax revenues, eroding the surplus adding to the economic downturn.
British Primer Minister Gordon Brown has warned there will be no early end to the international fiscal stimulus package agreed by world leaders to drag the global economy out of recession.
United States President Barack Obama said he would push world leaders this week for a reshaping of the global economy in response to the deepest financial crisis in decades. Meantime in Europe, officials kept up pressure for a deal to curb bankers' pay and bonuses at a two-day summit of leaders from the Group of 20 countries, which begins on Thursday.
Argentina’s Economy minister Amado Boudou meets this week with its French peer Christine Lagarde for the resumption of negotiations with the Club of Paris. The meeting will take place previous to the G-20 presidential summit in Pittsburgh.
Football legend Diego Maradona had his earrings seized by Italian authorities to help pay off his back taxes, according to media reports. The current coach of Argentina's national team was staying at a clinic in northern Italy in a bid to lose weight when finance police swooped, according to Reuters and later confirmed by the Argentine press.
Venezuelans are expecting this week further details of President Hugo Chávez anticipated package of new economic measures intended to increase the supply of US dollars and reactivate the local economy.