Stories for August 9th 2012
Argentine organized labour CGT, announced that based on their own analysis of the products that make up the basic food basket, on average they are 52% more expensive than those analyzed by the official statistics office, Indec
Police in Santiago used water cannons and tear gas as thousands of students took to the streets, raging against the government's policy on education. Vandals set buses ablaze and attacked government property amid violence that left 49 Carabineros injured and 75 people arrested.
The Chilean consumer price index showed no variation in July in contrast to the surprise 0.3% drop in June, as increases in food and non-alcoholic drinks offset falls in clothing, footwear and utilities, according to the national statistics agency INE.
Venezuela's annual inflation slowed for a seventh straight month in July, coming in below 20% for the first time in years. Finance Minister Jorge Giordani said annual inflation to July was 19.4% percent, below the 20 to 22% estimated in the government's budget for this year.
The Big Mac index computed by The Economist showed that the Venezuelan Bolivar is the most overvalued currency worldwide with respect to the US dollar, reflecting the imbalance of the Venezuelan economy.
This year’s PANAMAX exercise kicked off on Monday involving representatives from 17 hemispheric countries with the purpose of practicing methods of protecting the safe passage of commercial traffic through the Panama Canal while ensuring its neutrality and respecting national sovereignty.
The New Zealand government announced last week it will be supporting a program to produce high-quality marbled beef off grass, by combining specific high-marbling genetics with the country’s strengths in pastoral agriculture, according to Joe Burke from the Meat Division of Bord Bia-Irish Food Board.
The Chief Executive of Falkland Oil and Gas Ltd, FOGL, has said that its farm out agreement with Texas based US firm Noble Energy is not “politically motivated”, according to a report by the Daily Telegraph.
Argentina’s National Securities Commission, CNV, officially communicated leading international stock exchanges in the US and Europe that hydrocarbons companies operating in the Argentine continental shelf in the area of the disputed Falklands/Malvinas Islands are involved in “illicit and clandestine” activities.