The slowdown in Latin America’s once booming economies could take a heavy toll on profits for Spanish and Portuguese companies whose two-decade investment spree abroad has provided a lifeline during a deepening crisis at home.
The IMF called on Thursday for a policy game changer in the Euro zone to arrest the spread of the debt crisis it now says is clearly engulfing the entire currency bloc and its smaller neighbours.
Asian shares and the Euro eased on Friday as the European Central Bank, as happened with the Federal Reserve on Wednesday, disappointed markets looking for an imminent move to deal with the Euro zone debt crisis.
The Bank of England has kept interest rates on hold for August, and also held off from any more stimulus measures, as had been expected. Its rate-setting Monetary Policy Committee (MPC) has voted to maintain rates at the historic low of 0.5%.
In what is seen as another step of Argentina’s noose-tightening of the Falkland Islands’ economy and development, the Buenos Aires Province Senate passed a law on Thursday banning British flagged vessels from calling at Argentina’s largest province ports.
Federal Planning Minister Julio de Vido announced that several members of the Argentine Government would be flying to China in September in order to close several cooperation agreements between Chinese oil companies and YPF, intended to deepen the bilateral relations.
Capital outflows from Spain more than quadrupled in May to €41.3 billion compared with May 2011, according to figures released on Tuesday by the Spanish central bank. In the first five months of 2012, a total of €163 billion left the country, the figures indicate. During the same period a year earlier, Spain recorded a net inflow of €14.6 billion.
Ecuador wants to prevent Julian Assange's extradition to Sweden because it is disappointed that the Scandinavian country has turned down an offer to question the WikiLeaks founder in the Ecuadorean Embassy in London, a minister said on Wednesday.
New Delhi’s Metro shut down and hundreds of coal miners were trapped underground after three Indian electric grids collapsed in a cascade on Tuesday cutting power to 620 million people in the world’s biggest blackout.
The Argentine foreign ministry confirmed in a release that it had delivered an official protest to the United Kingdom repudiating “the profanation of the monument” in Darwin, Falkland Islands, to the memory of the Argentine combatants killed during the 1982 Malvinas war.