Economy

• Wednesday, July 2nd 2014 - 07:27 UTC

  Two decades of the Real, the currency that helped Brazil trust financial stability

  

  Twenty years ago, first July 1994, after decades of financial turmoil, Brazil introduced its current currency, the Real, marking a turning point in the country's fight against hyperinflation.

• Wednesday, July 2nd 2014 - 07:17 UTC

  Falklands mints £2 coin to mark centenary of 1914 Battle of the Falkland Islands

  

  The Falkland Islands Government have minted a new circulatory £2 coin, to mark the Centenary of the Battle of the Falkland Islands in 1914.

• Wednesday, July 2nd 2014 - 00:13 UTC

  Data confirms Argentina's economy has slid into recession

  

  Argentina’s economic activity index (EMAE), which is seen as a close proxy of GDP, fell 0.5% in April compared with the same month last year, according to data released by the government's stats office Indec. Nonetheless activity went up 0.6% in April compared to March.

• Tuesday, July 1st 2014 - 23:57 UTC

  Argentina's Paris Club and Repsol debt deals possible accord path, hint holdout funds

  

  One of the holdout hedge funds involved in the lawsuit against the Argentine government over pending debt from the 2001 bonds default, pointed out on Tuesday that the agreements struck by Argentina with Spanish oil and conglomerate Repsol and the Paris Club are good examples for the basis of an eventual understanding.

• Tuesday, July 1st 2014 - 23:16 UTC

  Could gang violence end Mexico's shale dream?

  

  Violence in Mexico could thwart hopes of a budding shale boom, as oil and gas companies operating in Texas may think twice about moving south of the border.
  Mexico holds an estimated 545 trillion cubic feet of technically recoverable shale gas and 13 billion barrels of shale oil, but progress in developing those resources has been slow.

• Tuesday, July 1st 2014 - 14:59 UTC

  Holdout hedge funds claim Argentina never turned up to negotiate a settlement

  

  Holdout investors involved in litigation with Argentina over sovereign debt said on Monday they have not met with the government to negotiate a settlement on defaulted debt, and accused Buenos Aires of refusing to enter talks as a 30-day countdown to default begins.

• Tuesday, July 1st 2014 - 10:16 UTC

  Mercosur waking up to the significance and impact of the Pacific Alliance

  

  Mercosur leaders called for dialogue with the Pacific Alliance over its perception that Mercosur is becoming an obstacle to integration and wider growth in the region. Uruguayan Vice-President Danilo Astori seemingly sparked the debate a few weeks ago when he said that “Mercosur mustn’t be a terminal station,” calling for formal trade deals with the Pacific Alliance.

• Tuesday, July 1st 2014 - 08:16 UTC

  Obama and 'second favorite Michelle' exchange praise at the White House

  

  President Barack Obama and Chilean President Michelle Bachelet pledged to work together to strengthen the ties between both nations, including projects on energy, education and free trade. Obama met in the Oval Office on Monday with Bachelet, whom he called his second favorite Michelle.

• Tuesday, July 1st 2014 - 07:50 UTC

  Uruguay received 237 cruise calls in 2013/14 with 409.367 visitors

  

  During the 2013/14 season, 237 cruise vessels called in Uruguay's two main ports, Montevideo and Punta del Este, with 409.367 visitors, a 6,3% increase in calls over the previous season, according to a report released by the country's presidential web-site.

• Tuesday, July 1st 2014 - 07:41 UTC

  Brazil extends tax breaks on car and furniture industries to boost economy

  

  Brazil will extend a tax break for the car and furniture industries until the end of the year to help boost sales depressed by a slowing economy, the government said on Monday. This measure should also help boost President Dilma Rousseff's bid for re-election next October.