Economy

• Tuesday, June 30th 2009 - 06:40 UTC

  Brazil-China bilateral trade in Real and Yuan instead of US dollar

  

  The Brazilian Central Bank announced it had reached an initial understanding with China for the gradual elimination of the US dollar in bilateral trade operations which in 2009 are estimated to reach 40 billion US dollars.

• Monday, June 29th 2009 - 10:48 UTC

  Falklands’ unpredictable squid catches paint bleak budget and tough times

  

  Falkland Islands Treasury officials painted a bleak and arguably inevitable picture of tough times ahead at last week’s public meeting on the recently announced Budget.

• Saturday, June 27th 2009 - 10:42 UTC

  Paraguayan president insists in recovering Itaipu “energy sovereignty”

  

  President Fernando Lugo reiterated Friday that Paraguay did not yield and will not yield “energy sovereignty” claims for power generated from South America’s largest hydroelectric dam Itaipu which it shares with neighbouring Brazil.

• Saturday, June 27th 2009 - 10:19 UTC

  OIE congress calls on rich countries to help eradicate FMD

  

  The Director General of the World Organization for Animal Health, OIE, Bernard Vallat called Friday on developed countries free of foot and mouth disease FMD, to help developing countries eradicate the disease.

• Saturday, June 27th 2009 - 10:16 UTC

  China again calls for “super-sovereign” currency to replace US dollar

  

  China's central bank has reiterated its call for a new reserve currency to replace the US dollar. The report from the People's Bank of China (PBOC) said a “super-sovereign” currency should take its place.

• Saturday, June 27th 2009 - 10:12 UTC

  Spain approves 9 billion Euro support fund for banking system

  

  The Spanish cabinet approved Friday a 9 billion Euro (12.7 billion US dollars) fund to help revive the financial sector by buying stakes in banks hit by the global crisis and get them lending again.

• Friday, June 26th 2009 - 12:59 UTC

  Astori’s team looks for support (and funds) from Argentine businessmen

  

  Leaders from the grouping which supports Uruguayan presidential hopeful Danilo Astori cautioned in Buenos Aires that if Senator Jose Mujica is nominated candidate next Sunday, the ruling coalition’s re-election chances could be impaired.

• Friday, June 26th 2009 - 03:28 UTC

  Fearful Argentines taking their dollar savings to Uruguay for shelter

  

  Safe deposit boxes in Uruguay are overflowing with US dollars from fearful Argentines concerned about the situation in their country and the results of Sunday’s mid term elections, according to banking sources in Montevideo.

• Thursday, June 25th 2009 - 17:27 UTC

  Argentina’s industrial production falls for fifth month running

  

  Argentine industrial production fell 1.7% in May from a year earlier and was down 0.2% on the month, according to the latest release from the country’s Statistics Institute. This is the fifth month running that industrial production has been contracting.

• Thursday, June 25th 2009 - 06:16 UTC

  US recession “slowing” but economy is expected to remain weak, says Fed

  

  The United States Federal Reserve kept interest rates unchanged on Wednesday and said that the recession in the US is “slowing” but “economic activity is likely to remain weak for a time”.