
By Dean Steinbeck (*) As much as it defies common sense, Uruguay entered into a tax sharing agreement that will scare off Argentine investors; the same group of people who are Uruguay’s biggest source of capital, investment, and innovation.

More than one billion tourists will take a trip this year crossing an international boundary, a threshold never before reached, UN officials told a meeting tourism ministers gathering in Mexico this week.

Uruguay and Argentina agreed to exchange tax data in a deal that gives Argentine inspectors the power to dig up information on savers with bank accounts in the neighbouring country, officials said on Tuesday.

Chile, Brazil and Mexico are among eight new countries which approved the first test of fiscal transparency from the Organization for Economic Cooperation and Development (OECD).

Colombia aims to be Latin America's third largest economy after Brazil and Mexico by 2015, said the country's trade minister this week during a business conference in Madrid.

Vice president Danilo Astori anticipated that in 2012 Uruguay will recover investment grade and said that including Uruguay in the OECD “grey list” was a “tremendous injustice” which did not take into account all the advances achieved in combating money laundering and narcotics trade.

Unemployment rates remain stubbornly high in the world's most advanced economies according to data released Tuesday by the Organization for Economic Cooperation and Development.

According to a new study by the Organization for Economic Co-operation and Development, income inequality in most economically developed countries is the worst it has been in nearly 25 years. Ten countries from the OECD report, particularly Chile are identified as having the worst income inequality.

Germany and France stepped up a drive on Monday for intrusive powers to reject national budgets in the Euro zone that breach EU rules, as a market rout of European debt eased temporarily on hopes of outside help for Italy and Spain.

None of the world's major economies will escape a slowdown, the Organization for Economic Co-operation and Development said, highlighting increasing signs that growth momentum is dwindling across the board.