The Brazilian President -elect Dilma Rousseff has nominated Alexandre Tombini for becoming the head of the Reserve Bank of the country. This move has prompted investors of the nation to bet that there will be a hike in the rates of interest in her first month in the office.

Argentina bond risk is coming down the most in this week worldwide following the promise made by the president, Cristina Fernandez de Kirchner to start negotiations wit the Paris Club regarding the default debts of the club in the tune of six decimal seven billion dollars and redesigning the consumer price index.

The largest iron exporter of the world, Vale S A, is attending a hearing on Hong Kong Stock exchange for pushing its case regarding the listing of its depository receipts as stated by three people aware of the matter.

Tombini has been given autonomy by the Brazilian President -elect Dilma Rousseff., She has been appointed as the head of the central bank of the country and bring the fastest inflation in eighteen months back to target.

On Wednesday Dilma Rousseff further stated that Giudo Mantega would be retained as the finance minister of the country which was greeted warmly by the financial markets.

The former President of Mexico, Carlos Salinas de Gortari stated that Mexico should continue with the fight against the drug lords as shown by their current leader Felipe Calderon which is beyond his administration. He further stated that Mexico should never vouch for legalizing drugs alone.

The Chilean government has stated that the country is somewhat optimistic about mining firms accepting the new royalty in the next month as Chile, the largest copper producing country of the world looks to have a greater share of record prices.