Latin America

• Saturday, October 12th 2013 - 21:55 UTC

  Argentina denies having set any ultimatum regarding the pulp mill controversy with Uruguay

  

  The Argentine Foreign ministry denied on Friday it had given a two-day ultimatum to Uruguay to suspend the decision allowing the controversial Botnia/UPM pulp mill a production expansion and also demanded an immediate return to bilateral negotiations.

• Friday, October 11th 2013 - 13:28 UTC

  Venezuela inflation soars to 49%; Maduro promises more dollars to help with imports

  

  Venezuela's annual inflation rate rose to 49.4% in September, from 45.4% in August. Consumer prices increased 4.4% month-on-month, the central bank said, compared with 3.0% in August. It was the highest annual rate since the Venezuelan government changed the formula used to calculate the figure five years ago.

• Friday, October 11th 2013 - 13:15 UTC

  Foreign direct investment in Latam remains strong and increases 6% in first half of 2013

  

  Foreign direct investment (FDI) to Latin America displayed moderate growth in the first half of this year, compared with the 2012 similar period, according to the Economic Commission for Latin America and the Caribbean (ECLAC). The 13 countries of the region that provided data received 102.951 billion dollars, which was 6% higher than the first six months of the previous year.

• Friday, October 11th 2013 - 12:51 UTC

  Over six million ticket requests for 2014 World Cup, with 70% from Brazil

  

  A total of 6,164,682 requests for tickets for the 2014 FIFA World Cup had been received when the initial application period ended on Thursday 10 October 2013, of which 70.86% were from Brazil, with the remaining 29.14% from the rest of the world.

• Friday, October 11th 2013 - 12:33 UTC

  Aerosmith rockers declared fans of Uruguayan president Jose Mujica

  

  American rockers Aerosmith have declared themselves fans of Uruguayan leader Jose Mujica, a colourful former guerrilla known for his simple lifestyle. But the 78-year-old Mujica can't say the same of Aerosmith, admitting after meeting with band members that he hadn't heard any of their songs.

• Friday, October 11th 2013 - 10:18 UTC

  Uruguay: Pulp mill controversy: “Only God sets an ultimatum” Mujica tells Timerman

  

  “Only God sets an ultimatum” said Uruguay’s President José Mujica in a laconic reply to Argentine Foreign Minister Hector Timerman demand (and countdown) to return to negotiations regarding the UPM pulp plant and Montevideo’s decision to allow an increase in production.

• Friday, October 11th 2013 - 07:52 UTC

  Argentina prepared to comply with World Bank arbitration and pay corporations with bonds

  

  Argentina will offer 500 million dollars in sovereign bonds to resolve disputes with corporations at a World Bank arbitration panel, a financial daily newspaper reported on Thursday.

• Friday, October 11th 2013 - 07:49 UTC

  Rare praise for Argentina’s economy performance from the World Bank

  

  Argentina will grow at an enviable rate compared to other countries in the region, Chief Economist for the World Bank’s Latin America and Caribbean Office Augusto de la Torre said this week, commenting on the institution’s projections for next year.

• Thursday, October 10th 2013 - 05:11 UTC

  Brazil raises basic interest rate to 9.5% and leaves door open for further increases

  

  Brazil Central bank raised interest rates for the fifth straight time on Wednesday and gave no indication of backing off its battle with high inflation. The benchmark Selic interest rate now stands at 9.5%, up fifty basic points from 9%.

• Thursday, October 10th 2013 - 01:11 UTC

  New editors for leading Cuban newspapers: “too much triumphalism and too apologetic”

  

  Cuba has appointed new editors for the country's two main newspapers - Granma and Juventud Rebelde. The shake up in the island's tightly controlled media was described by the Communist Party as a “renewal”.