
Global wheat prices climbed on Friday as Russia’s economy minister raised the possibility of grain export curbs from one of the largest global suppliers in what appeared to be a policy u-turn.

Brazil threatened on Friday a further clampdown on speculative foreign capital, firing a warning shot in the currency war Finance minister Guido Mantega blames on money-printing by Western central banks.

World trade will grow by a mere 2.5% this year, dragged down by Europe to less than half of the previous 20-year average, the World Trade Organization (WTO) said on Friday. WTO cut its estimate from a 2012 growth forecast of 3.7% in April and also lowered its growth forecast for 2013 to 4.5% from 5.6%.

Angela Merkel is seeking help from her estranged, former mentor Helmut Kohl, architect of the Euro, to restore voter faith in the European project before next year's election.

Finance minister Hernan Lorenzino said on Thursday that the international crisis will not affect Argentina and attributed this to the policy of drastically cutting the country’s sovereign debt which now stands at only 40% of GDP.

Latin America shows a huge diversity regarding economic freedom with Chile (10) and Peru (24) among the top ranked 25 countries and another four, Bolivia, Ecuador, Argentina and Venezuela at the other end according to the latest report on Global Economic Freedom.

Farmers and activists from all over the continent converged on European Union headquarters Wednesday to push for a food policy that is fairer to family farmers and kinder to the environment and developing nations.

Brazilian finance minister Guido Mantega said that resolving Europe’s economic problems are likely to drag out over coming years due to a complex and slow process of decision-making in the region and recommended emerging economies to promote domestic consumption and trade among them.

Spain has not invited Paraguay to the Ibero-American summit in Cadiz scheduled for next November confirmed Paraguayan Foreign minister Jose Felix Fernandez Estigarribia, who also admitted that the number of countries ‘disgusted’ with the new administration of President Federico Franco has diminished considerably.

Iran's Foreign Minister Ali Akbar Salehi formally requested his Argentine counterpart Héctor Timerman for a meeting to be held next week at the United Nations General Assembly, the Ministry reported.