United States Secretary of Commerce Carlos M. Gutierrez announced Wednesday he will travel to Uruguay Oct. 8-9 and Brazil Oct. 9-11 to discuss with senior government officials and the business community ways to promote greater bilateral trade, economic growth and opportunity and to foster greater commercial cooperation between the United States and both Uruguay and Brazil.
As several other commodity-exports dependent countries in South America, Peru's economy is booming growing at an estimated 8%, following last year's 7.6%. However this success and the massive influx of US dollars is distorting monetary policy and delaying an improved wealth distribution.
The Governing Council of the European Central Bank meeting in Vienna decided to leave interest rates unchanged at 4%. The decision comes despite the strength of the Euro against the US dollar and calls from some European leaders to cut rates and boost European competitiveness.
The Bank of England's Monetary Policy Committee voted Thursday to maintain UK interest rates on hold at 5.75%. The decision comes despite pressure to follow the example of the US Federal Reserve to cut the cost of borrowing and help with the credit crunch.
Want to buy an iPod? Try Hong Kong and if in Europe, Switzerland, and if in the Americas, United States or Canada but please avoid Brazil. That is the suggestion of Commonwealth Bank, one of Australia's largest, which checked the cost of a digital music 4GB iPodNano in 55 different countries.
Argentina is considering submitting a report on its economic program to the International Monetary Fund to help unblock negotiations on its 6.3 billion US dollars debt with the Paris Club, a government official said yesterday.
Pearson, the world's largest education publisher announced this week it was partially opening up free access to its Financial Times newspaper as it adopted a new online business model.
Weather conditions are improving in Mercosur main farm areas helping advance optimistic prospects for the 2007/08 harvests. In Argentina the wheat crop is predicted to reach 14 million tons while corn and sunflower planted areas are expected to increase significantly.
Magallanes Region in the extreme south of Chile again recorded the lowest unemployment rate in the country during the June-August quarter, according to the latest release from the country's Statistics Office.
Prices in Buenos Aires supermarkets and groceries jumped 1.6% in August totaling 14.1% in the first eight months of the year according to reports from the controversial Argentine Statistics and Census Office, Indec.