Word: comercio
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...Manuel Prado's big campaign pitches when he was running for President last year was a promise to fight inflation with sol-searching* austerity. Last week, five months after his inauguration, the country's two top newspapers, El Comercio and La Prensa, both rapped him hard for breaking the promise. His first yearly budget had just emerged from Congress, at $254.6 million, the fattest in the nation's history and nearly 25% bigger than the last, spending-spree budget of President (1950-56) Manuel Odría, whom Candidate Prado had lambasted as a spendthrift. Old Soldier...
...Comercio, La Prensa (usually pro-Prado) and a lot of Peruvian businessmen, the President's freehandedness seemed dangerously inflationary. In a Lima restaurant, a Peruvian economist quipped: "If President Prado's budget is austerity, then this"-he held up a piece of Melba toast-"is a Nesselrode...
...most notable fighters for press independence went the Mergenthaler Awards, Latin America's equivalent of the Pulitzer Prizes. Among the winners: Editor Jorge Mantilla of Ecuador's El Comercio, who won the $500 prize for "work on behalf of press freedom" after he refused to print a government communique in his paper and was closed down by the police; and Carlos Lacerda, fiery publisher of Brazil's Tribuna da Imprensa (TiME. Aug. 16), for his crusading editorials against government corruption. Said Lacerda: "There is one lesson we learn from events in Brazil. [It is the] growing responsibility...
Died. Aurelio Miró Quesada, 73, editor of Peru's outstanding daily, El Comercio, and head of the powerful Miró Quesada family, one of the three most important in Peru; of a heart ailment; in Lima...
When the smuggling story broke in Mexico City, Beteta was unexpectedly faced with the possibility of a financial panic, touched off by a run on the Banco de Comercio. Said the pro-Communist El Popular: "Every patriotic depositor should withdraw all funds at once." Beteta' asked editors and financial writers to go easy on the bank...