Michael Henderson News
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Rafael Correa was re-elected as Ecuador’s president yesterday after pledging to boost spending on the poor while the country runs up its biggest-ever budget deficit.
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Ecuador’s economy, South America’s seventh biggest, is growing at its weakest pace since 2010 as lower oil prices and limited financing options after a 2008 default crimped government spending and cooled domestic demand.
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Apple Inc. , the maker of the iPad and the iPhone, sued three sellers of computer equipment for infringing a design patent.
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Chilean economists expect policy makers to raise interest rates this year as inflation accelerates, after forecasting no change in borrowing costs for all of 2013 in a poll published last month.
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Ecuador’s economy expanded at its slowest pace in eight quarters in the first three months of the year, as construction and agriculture output slumped.
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Emerging-market stocks increased for the first time in four days as central banks in Brazil and South Korea cut rates to bolster growth and a unit of China’s sovereign wealth fund vowed to support banking shares.
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YPF SA, Argentina’s largest oil producer, may lose three more licenses for fields where it extracts 11 percent of its crude as provincial governments step up pressure on the company to boost investments.
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Peru’s central bank probably will keep borrowing costs unchanged for the 17th consecutive month today as it seeks to balance inflation risks resulting from strong growth with concern that the global economic outlook is deteriorating.
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Chilean traders who are wagering that policy makers will wait more than a year before raising interest rates risk underestimating the central bank’s commitment to containing inflation, according to the most- accurate forecaster.
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Peru’s policy makers will probably keep their benchmark interest rate at a two-year high as above- target inflation prevents them from supporting the government’s bid to boost growth amid slowing global demand.
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