Economy

• Thursday, August 13th 2009 - 07:49 UTC

  InterContinental Hotels report loss: “business remains elusive”

  

  The British group which manages InterContinental Hotels, Crowne Plaza and Holiday Inn revealed that it plunged into losses in the first six months of 2009 and forecast a “tough” second half as the recession keeps business travellers at home. That compares with a net profit of 163 million dollars in the same part of 2008.

• Wednesday, August 12th 2009 - 12:19 UTC

  Chavez and Cristina sign a billion USD trade agreement

  

  Venezuelan President Hugo Chavez received on Tuesday Argentine President Cristina Fernandez de Kirchner in Caracas to sign agreements expanding trade between the two countries. Among the deals was an accord to import as many as 10,000 cars from Argentina this year instead of Colombia.

• Wednesday, August 12th 2009 - 12:10 UTC

  “Discrimination-free” and when possible “free-of-charge” soccer in Argentina

  

  The Argentine Football Federation Executive Committee agreed Tuesday to end the contract that for two decades had united AFA with television company Televisión Satelital Codificada, owner of the television rights for Argentina’s soccer.

• Wednesday, August 12th 2009 - 12:02 UTC

  Chinese economy recovering on government stimulus spending

  

  New economic figures show that China's export-geared economy still has weaknesses, but is showing signs of recovery. Still, there are warnings that much of the gain is dependent on government stimulus spending.

• Tuesday, August 11th 2009 - 11:05 UTC

  Big Government and how Great Depression II was averted, by Paul Krugman

  

  Under the title of “Averting the worst” Nobel Prize Paul Krugman praised “Big Government” for having saved the United States (and the world) from a second Great Depression

• Tuesday, August 11th 2009 - 11:03 UTC

  Chilean dairy farmers request protection from Uruguay/Argentine exports

  

  Chilean dairy farmers and the country’s main agriculture organization, SNA, are demanding safeguards against the import of powder milk and Gouda cheese from Uruguay and Argentina arguing “disloyal competition”.

• Monday, August 10th 2009 - 12:13 UTC

  Pope triggers “scandalous poverty” debate in Argentina

  

  Buenos Aires province governor Daniel Scioli will be meeting this week with all Catholic bishops of his area following the controversy triggered by Pope Benedict XVI who in one his homilies spoke of the “scandalous poverty” and social inequality in Argentina.

• Monday, August 10th 2009 - 11:55 UTC

  Brazilian inflation falls in July for the third month running

  

  Brazil inflation slowed for the third month running in July with annual inflation slowing to 4.5%, the lowest since December 2007. Consumer prices as measured by the IPCA index rose 0.24% in July from 0.36% in June, according to a release from the national statistics agency.

• Monday, August 10th 2009 - 11:41 UTC

  Chile leads in wine exports but Argentina catching up in quality and growth rate

  

  The average price of an exported bottle of wine from Argentina has exceeded a Chilean bottle for the first time, according to recently released Wines of Chile figures. The report also revealed that Chile's wine exports fell 4.4% between January and June 2009, compared to the same time last year.

• Monday, August 10th 2009 - 11:25 UTC

  Lloyds Banking Group considering how to limit government stake

  

  The UK part-nationalised Lloyds Banking Group may raise billions of pounds from shareholders to reduce its reliance on the taxpayer, it has been reported. The bank - which is 43% state-owned - is considering the move to avoid the £16 billion cost of placing billions in toxic debts into a taxpayer-backed insurance scheme, the Sunday Times reports.