Economy

• Thursday, June 11th 2015 - 04:13 UTC

  Timerman waters down Mercosur/EU agreement expectations

  

  Argentine Foreign minister Hector Timerman affirmed that a trade deal would not be signed between Mercosur and the European Union (EU) in the second summit of the Community of Latin American States (CELAC) and the European body, which is taking place in the Belgian city of Brussels.

• Thursday, June 11th 2015 - 00:41 UTC

  Mercosur ready to deliver its proposal for the trade agreement with EU

  

  Mercosur is ready to deliver its proposal on goods, services and tariff reductions as part of the negotiations with the European Union for a trade and cooperation agreement, said Brazilian president Dilma Rousseff on Wednesday, following a meeting in Brussels with Charles Michel, Belgium's Prime minister.

• Thursday, June 11th 2015 - 00:29 UTC

  Bolivia's Morales does not support Mercosur/EU deal based on 'competitive' trade

  

  Bolivian president Evo Morales said that if Mercosur insists in forging a trade agreement with the European Union, Bolivia will have to 'withdraw“, because ”we support solidarity and not competitive trade”. Morales is in Brussels attending the EU/Celac heads of government and state summit which takes off on Thursday.

• Wednesday, June 10th 2015 - 22:22 UTC

  Bank of England and Chancellor want tougher sentences for bankers' “culture of impunity”

  

  Bank of England governor Mark Carney has called for longer prison sentences for bankers who break the law, in a speech attacking on ethics in the City. In his Mansion House speech Mr Carney said individuals acted with a “culture of impunity”. But, he warned: “The age of irresponsibility is over.”

• Wednesday, June 10th 2015 - 06:53 UTC

  Uruguay says Brazil and Paraguay are ready to sign trade accord with Europe

  

  Uruguayan president Tabare Vazquez said that Uruguay, Brazil and Paraguay are ready to sign the long delayed trade and cooperation agreement between Mercosur and the European Union. Such an agreement has become one of the cornerstones of Vazquez presidency faced with falling exports and limited markets.

• Wednesday, June 10th 2015 - 06:04 UTC

  Brazil launches ambitious $64bn infrastructure package to prop the economy

  

  Brazil announced a $64 billion infrastructure spending package on Tuesday, hoping to revive its flagging economy with investment in highways, railroads, ports and airports. Businesses and analysts have long pointed to overburdened infrastructure as a drag on the world's seventh-largest economy, which pays high prices to ship the raw materials it exports.

• Wednesday, June 10th 2015 - 05:01 UTC

  Argentina comes to a halt as transport unions shut-down buses, trains, subways, air traffic

  

  A strike by Argentine transport workers caused chaos for Buenos Aires commuters and forced airlines to cancel flights on Tuesday as the government accused unions of playing pre-election politics.

• Tuesday, June 9th 2015 - 08:20 UTC

  Brazil determined to advance Mercosur/EU trade talks in this week's meeting

  

  A top Brazilian minister said that Mercosur must allow member countries to sign trade agreements with third parties and called for the end to the rule which prevents such initiative. Development, Industry and Trade minister Armando Monteiro Neto made the statement during a competitiveness seminar in Rio do Janeiro a couple of days ahead of a crucial meeting in Brussels between Mercosur representatives and the European Union to address an encompassing free trade agreement.

• Tuesday, June 9th 2015 - 08:06 UTC

  Paraguay believes in a 'single speed' approach to Mercosur/EU trade talks

  

  Paraguay believes in a 'single speed' approach to negotiations for a trade agreement between Mercosur and the European Union, but discussions must be more dynamic and wide ranging, said the country's president Horacio Cartes, currently visiting Spain.

• Tuesday, June 9th 2015 - 07:28 UTC

  FI Holdings' profits helped by Falklands increased activity and investments

  

  Falkland Islands Holdings PLC said on Monday that underlying pre-tax profit and revenue was broadly flat in its recently-ended financial year, and trading so far in the new year has met its expectations as it seeks to accelerate its growth and increase its scale through acquisitions.