Economy

• Wednesday, January 21st 2015 - 06:44 UTC

  China last year grew at its weakest in 24 years, but could be bouncing back

  

  China's economic growth slowed to its weakest in 24 years, expanding 7.4% last year from 7.7% in 2013. Growth in the world's second largest economy missed its official annual growth target of 7.5% for the first time in 15 years. But, the annual growth figures still came in higher than market expectations of about 7.2%.

• Wednesday, January 21st 2015 - 06:33 UTC

  Denmark, following on Switzerland, forecasted to remove Krone's peg to the Euro

  

  Denmark has cut its key interest rate to prevent the Krone from strengthening in the wake of Switzerland's decision to scrap the franc's peg to the Euro. There has been speculation that Denmark could follow the Swiss move by removing the Krone's link to the Euro.

• Tuesday, January 20th 2015 - 05:48 UTC

  Party is over in Brazil: increase in fuel, tax on consumer loans and imports

  

  Brazil on Monday announced tax increases on fuel, imports and consumer loans aimed at raising 20.6 billion Reais (7.7bn dollars) in additional revenues this year. The plan is part of an effort to help balance budget accounts and revive investor confidence, Finance Minister Joaquim Levy said at a news conference.

• Monday, January 19th 2015 - 07:48 UTC

  Cristina Fernandez meets with economist Piketty expert on wealth distribution

  

  Argentine President Cristina Fernandez met with Thomas Piketty at the Olivos official residence for two hours on Saturday as part of the French economist's tour of Latin America.

• Monday, January 19th 2015 - 07:36 UTC

  Argentine central bank confirms policy restricting access to foreign currency

  

  Argentina will not end its controls restricting access to foreign currency in the near term, Central Bank President Alejandro Vanoli was quoted as saying in an interview published on Sunday in the government supported newspaper Pagina 12.

• Monday, January 19th 2015 - 07:19 UTC

  Obama wants tax increases on the wealthy to help middle class families

  

  President Obama is to use Tuesday's State of the Union speech to call for tax increases on the wealthy to help the middle class, officials say. The proposals would raise 320 billion dollars over a decade, to fund benefits such as tax credits.

• Monday, January 19th 2015 - 07:10 UTC

  Brazil central bank expected to raise interest rates this week for third time running

  

  Brazil's central bank is expected to raise interest rates for a third straight meeting this week to quell any doubts about its commitment to ending years of high inflation.

• Saturday, January 17th 2015 - 08:03 UTC

  Argentina downplays WTO adverse ruling and considers possible negotiations with litigants

  

  The World Trade Organization (WTO) ruling against Argentina triggers “no immediate modification” of the country’s trade administration, Cabinet Chief Jorge Capitanich pointed out adding a “comprehensive and detailed analysis of the ruling’s terms” is needed.

• Saturday, January 17th 2015 - 07:46 UTC

  Booming California overtakes Brazil as the world's seventh largest economy

  

  California is overtaking Brazil as the world’s seventh-largest economy, bolstered by rising employment, home values and personal and corporate income, a year after the US most-populous state surpassed Russia and Italy.

• Friday, January 16th 2015 - 06:49 UTC

  Bilateral trade between Mercosur main partners dropped 21.2% in 2014

  

  Bilateral trade between Mercosur two main partners, Brazil and Argentina (first and third largest economies in Latin America) dropped 21.2% last year and with a 139 million dollars deficit for Argentina, according to the Argentine Commerce Chamber, CAC.