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Today the United States met since the second quarter GDP was revised down from +2.4% to +1.6%. While this figure seems bad, not so much because the market was expecting a downward revision from +2.4% to +1.4%. This has given relief to the markets, which record highs this morning led by the Dow Jones (+0, 60% after opening).

We are waiting for what Ben Breanne may say today about the future of the economy during the Annual Meeting of Presidents of Central Banks, as well as the Consumer Confidence number of Michigan Universidad August (projected at 70 pts.)

With the above, the negative tone continues in international markets, but the contagion to emerging economies has been very limited.

For now, we maintain the negative bias, since there is no sign that this is over. However, we recommend caution in the current levels because the market three weeks of low accumulation

The world economy is recovering from its worst recession in decades, although some regions such as North America and Asia, recorded slower growth, according to a study released today by the International Chamber of Commerce (ICC, for its acronym in English).

There was also a marked difference between the growth prospects of different regions. Globally, the economic sentiment indicator fell slightly from 104.1 in the second quarter of 2010 to 103.2 in the third quarter. This was in part a product of the fall in the indicators of two important regions, North America and Asia.

, the overall numbers continue to show substantial gains compared to the third quarter of 2009, when the global economic indicator was 79.6.

The Report of the Global Economy Quarterly was conducted by the If institute in Munich in cooperation with the ICC, for which questioned more than 1,100 experts in 166 countries.

Western Europe, whose economy seemed to be slowing in the previous report, had a surprise performance this quarter, with Germany as the engine of growth in the euro area thanks to rising exports.

In fact, Germany, with growth of 2.2 percent, had its strongest quarter since the reunification of Germany in 1990. However, the recession in Greece and the ongoing adjustment programs in Spain and restructuring in Portugal and Ireland temper Europe’s prospects.

Meanwhile, in North America, growth has slowed in the last quarter. High unemployment in the U.S., the weak private consumption and capital spending led to a less than satisfactory, according to experts consulted.

Meanwhile, there is evidence of a slowdown in the Chinese economy. While its growth rate remains impressive, the weakening of imports and retail sales, along with the Chinese government’s withdrawal of its expansionary monetary policy that we will have an economic slowdown in coming months.

In Africa, there is a strong contrast between South Africa and Kenya, which show positive signs, and other countries with a weak scenario, such as Tanzania, Gabon and Madagascar. South Africa received a boost from hosting the World Cup.

On trade and investment across borders, the study indicates that private consumption, which is key for growth in these areas, remains weak, influenced by high rates of unemployment. Another factor limiting trade is the lack of access to commercial financing in countries such as Spain, Bulgaria, Czech Republic, Hungary and Romania. These factors, in addition to the protectionist measures in countries like Germany, Denmark and Norway, contribute to the prospects for trade and investment are not the most positive.

Cava de Burgos was now “fully satisfied” with the authorization of the Government of Castile and Leon Civic joining Bank and said that this decision “represents a major milestone in shaping the Group and facilitates the cruising speed it wants to acquire for its implementation on 1 July. “

The Ministry of Economy and Employment announced this afternoon at Burgos entity authorized to accede to the Institutional Protection System (SIP) which is part of the integration of the Group that conform Cava de Burgos, Cava Navarre and Cava Canaries.

This communication also states the need to obtain licenses from other mandatory to start the integration process must provide both the Bank of Spain and Spanish monetary authority, as the Ministry of Economy and Finance, said in a statement picked up by Europe Regional Government Press.

The authorization also involves compliance with all terms of the contract establishing the SIP. Cava de Burgos must submit periodic information for follow-up, the Ministry of Economy and Employment.

According to Europe Press reported Civic Banking sources, the Ministry of Finance also announced today the signing of the Ministerial Order authorizing the Group to operate, once it received a favorable report by the General Directorate of Treasury and Bank of Spain.

“In front are the relevant entries and other administrative processes to see Civic Banking SIP as the first bank operating in Spain, without consuming resources of Fob, launching a pioneering business model and growth and internationalization as key challenges future, “sources said

Civic Banking Group continues moving towards the beginning of its financial operations on 1 July. This afternoon, has announced the approval by the Junta de Castillo y Leon Cava de Burgos for joining the project of integration of the Civic Banking Group. In his note, the Ministry of Economy and Employment of the Junta de Castillo y Leon also stipulates the need to obtain licenses from other mandatory to start the integration process must provide both the Bank of Spain and the Spanish monetary authority and the Ministry of Economy and Finance.

It has been precisely the Ministry of Finance who is also the group announced today the signing of the Ministerial Order authorizing the Civic Banking Group to operate, once it received a favorable report by the General Directorate of Treasury and the Bank Spain.

Ahead are the relevant entries and other administrative processes to see the Civic Banking Group as the first SIP bank operating in Spain, without consuming resources of Fob, launching a pioneering business model and growth and internationalization as key challenges future?

Satisfaction. Cava de Burgos is shown fully satisfied with the decision taken by the Ministry of Economy and Employment of the Junta de Castillo y Leon, valuing hard work in recent months by the latter. For Burgos entity represents a major milestone in shaping the Civic Banking Group and cruise speed facilitates the group wants to acquire for its implementation on 1 July.

Bureau Chief Vera Cruz Finance announced that since early last week began to raise a real pattern in the number of informal traders who are now working on the streets of the port of Vera Cruz.

He said the State Treasury is implementing a sweep to invite vendors to register in the register, this with the aim of starting to participate in the payment of taxes.

He explained that due to the number of complaints received by the trade established, and is making a cross with the City Council information in order to ensure that informal and is regulated by the municipality of Buenos Aires.

He said that not only street vendors were taken into account in this scan, it also noted that small businesses are not regulated properly receive the invitation to register to vote.

PP representative for Grin Canaries, Carlos Rodriguez, said today that the island’s economic activity is “orphaned” financial injection “critical” for promoting it because of unemployment it has.

In addition, Rodriguez accused President José Miguel Perez island from “the other side look as if it were the absolute maximum liability of the economic paralysis” of the island.

“Unemployment gallops at home in Grin Canaries and investment suffers from the inability of the President of the Cabled, Jose Miguel Perez to implement the budget of the corporation” is female representative of the popular island in the corporation told the media.

He said that the Cabled government team has “more than 350 million euros in financial institutions.” “Large, medium, small entrepreneurs, freelancers, we all suffer in Grin Canaries the abandonment of this group of government.

In Spain, one of the elements considered essential to overcome the crisis is improving the productivity of the country.

It is generally diagnosed since the mid-eighties; the growth of total factor productivity in the Spanish economy has been slowing. Among the reasons, the principal, is the lack of utilization of human capital improvement, training and knowledge-and communication technologies and information management in recent years. Obviously, there are other reasons that could be attributed side to corporate culture rather scanty or certain aspects of regulatory and subsidy policies in some sectors have helped strengthen the economy more dynamic and efficient.

At present, the negotiation of labor reform is thinking exclusively in terms of reducing the costs of explicitly linking human-capital increased productivity, but without addressing the two key issues for an economy XXI century in our country: to increase technological capital and its efficient use by companies and the empowerment of human capital-education and lifelong learning.

It is a fact that the Spanish business community, without exception, brings them to heave the empowerment of human capital – only 18% of companies used the funds for employee training last year by the deduction of contributions to Social Security – and many do not invest what they should invest in technological capital and the only thing they want is cheap labor.

The labor reform, as is being proposed we turn to an intensive economy-wage labor increasingly devalued the sole policy objective of reducing the rate a few points of unemployment.

No need to resort to the statistical series to observe that countries with higher productivity and adding value often have higher wages. While in Spain, with low wages, companies tend to invest less in capital improvements to its human and technological.

finance investment projects in any economic sector. The so-called “Production Financing Program of South America will be anchored by the Central Bank (BCRA), but reservations will not be used for this purpose. The announcement had been advance Profile Journal on Sunday.

The loans will be available with an interest rate of 9.9% annual fixed weights and have a period of up to five years. Projects that a unit comprised of the Ministries of Industry and Economy will evaluate applications. For its part, the Central Bank will give financial institutions public and private resources to lend against the security of tenure of such bonds.

Industry reported this medium, have been relieved about 100 investment projects. The main areas involved are steel, petrochemicals, leather, textiles, footwear, medicines, wood and furniture, auto parts, software, toys, and dairy foods.

Indeed, the purpose of the loans is to achieve anti-inflation, given that current demand for goods and services grows above generate supply and price increases, among other factors.

The Minister of Industry, Debora Giorgio, explained, “This growth generates greater investment needs, which are aggregate demand this year and a greater supply of goods and services for the future. Furthermore, the increased investment will result in import substitution, value-added exports and supply the booming domestic market. “

The promotion of an exchange rate to help strengthen the position of Chilean farmers and to recognize the export effort is one of the main aims of the portfolio of Agriculture, led by José Antonio Galilee. Specifically in this topic, as advanced Galilee, will work with the economic ministries of the Executive.

This and other ads that will be part of the roadmap outlined yesterday portfolio Minister within the framework of the seminar “How come the 2010-2011 season?” Organized by the National Agriculture Society (SNA) and Economics and Business “El Mercuric”. On the occasion, also presented prominent business and union representatives of agriculture, who spoke about the realities of dairy items, wine, fruit, livestock and grain production.

A candidate for the mayoral coalition Palatal PT-CONVERGENCE Jose Manuel del Rio Virgin tenants met with Benito Juarez market in which endorse their commitment to promoting the economic development of a supply center you see who wins the presidential election.

In this regard, the Rio Virgin also stressed that work for those who have less, since the market is a place where most of the population attends Panatela for everyday purchases and those who offer their wares.

“The market requires my full support and if necessary the next president of Palatal will give you the maintenance required, as well as solve the problems of drainage and electricity and came here because together we will start a major movement since all Palatal we want change we live in where everyone else just want to cheat wing parties society “express

On the other hand indicated that Palatal to be a town with great wealth, marginalization and poverty still exists in some sectors of the population, so that the municipality has sought a better way “we want more jobs and we will, because we have wealth enough to generate thousands of jobs. “

In that order made it clear that you have all the experience to govern the town, so I invite the candidates of both the PRI and PAN each week to discuss a particular topic of interest and where the municipal authorities have done nothing, quote as examples “the case of both markets, the municipality and within the different categories such as health, education, security and more,” he added

I mention that being mayor of Palatal first base was formed to improve the situation of the markets.