Politics

• Wednesday, December 23rd 2009 - 15:44 UTC

  Uruguay cuts basic rate and eases credit to sustain US dollar

  

  Uruguay surprised markets with a 175 basic point rate cut to 6.25% from 8.00% amid expectations of lower inflation. The central bank also decided to reduce the inflation target fluctuation for the next 18 months from 3 to 7%, to 4% and 6%.

• Wednesday, December 23rd 2009 - 15:37 UTC

  Several Argentine economy indicators rebounding

  

  Argentina’s November primary fiscal surplus increased sharply over a year ago, 46.2%, reflecting a better performance of the country’s economy, pointed out Economy minister Amado Boudou confirming what President Cristina Fernandez de Kirchner had anticipated on Monday.

• Wednesday, December 23rd 2009 - 15:23 UTC

  Brazilian Central bank ready to “preventively” increase rates in 2010

  

  Brazil’s Central bank is ready to act preventively to fight inflation after it forecast growth in 2010 will accelerate to the fastest in three years, triggering above-target inflation, said Mario Mesquita, the bank’s Economic policy director.

• Wednesday, December 23rd 2009 - 09:54 UTC

  Uribe offers reward for info leading to kidnapped Colombian governor

  

  Colombian President Alvaro Uribe is offering the equivalent of almost half a million US dollars reward for information leading to the rescue of a governor snatched from his home Monday night by a guerrilla commando unit dressed in army uniforms. He also asked for the recovery of 24 military, captives of the guerrilla.

• Wednesday, December 23rd 2009 - 09:45 UTC

  RAF signs contract for seventh C 17 strategic transport aircraft

  

  The Royal Air Force has signed a contract for the seventh C17 aircraft the UK Ministry of Defence announced Tuesday. The new strategic transport aircraft will add to a fleet that has seen heavy usage during recent operations in Iraq and Afghanistan.

• Wednesday, December 23rd 2009 - 09:26 UTC

  Highlanders stationed in Falklands triumph in Chilean war game competition

  

  An elite team of British soldiers beat Special Forces from around the world to win a grueling competition in the driest place on Earth, repots Daily Record.co.uk. The eight-man unit from the Highlanders (4 Scots) picked up the gold medal in the Chilean Patrol Competition before their recent deployment to the Falkland Islands.

• Wednesday, December 23rd 2009 - 08:15 UTC

  Third credit rating agency downgrades Greek sovereign bonds

  

  A third credit ratings agency has downgraded Greek government bonds over concerns about the country's ability to reduce its high levels of debt. Moody's is the third of the three major international agencies to downgrade Greece, following similar moves by Fitch and Standard & Poor's.

• Wednesday, December 23rd 2009 - 08:09 UTC

  China's GDP per capita expected to climb to 4.000 USD by end of 2010

  

  China's GDP per capita is expected to climb to 4,000 US dollars by the end of next year, according to the 2010 social blue book issued Monday, reports Global Times.

• Wednesday, December 23rd 2009 - 08:07 UTC

  China and Taiwan agree to closer economic ties

  

  China and Taiwan have signed the latest in a series of economic deals, amid some disquiet on the island at their ever-closer relationship. Chen Yunlin, China's top Taiwan envoy, agreed the deals with his Taiwanese counterpart on the second day of his four-day visit to the island.

• Wednesday, December 23rd 2009 - 07:53 UTC

  EU votes to extend tariffs on shoes from China and Vietnam

  

  The European Union has voted to extend tariffs on shoes from China and Vietnam in order to help European producers compete with cheaper imports. The tariffs, which were first introduced in 2006, will last for a further 15 months.
  A number of countries in the EU were opposed to the extension.