Economy

• Saturday, April 2nd 2011 - 08:13 UTC

  Brazil’s March sales of cars rose 11.6% but fell 14.4% from a year earlier

  

  Sales of new cars and light commercial vehicles rose 11.6% in March from February, Brazil's Federation of Vehicle Distributors, Fenabrave, said on Friday, but they fell sharply from a year ago.

• Saturday, April 2nd 2011 - 08:01 UTC

  Vale’s CEO, first victim of Brazil’s policy to cut reliance on commodities exports

  

  Brazil's government is considering creating an iron ore export tax meant to spur investment in local steel production, a leading Brazilian newspaper reported on Friday. The measure is in the framework of President Dilma Rousseff’s intention of cutting Brazil’s reliance on non processed commodities exporter.

• Saturday, April 2nd 2011 - 07:53 UTC

  US jobless rate drop for second month running could indicate inflection point

  

  US employment recorded a second straight month of solid gains in March and the jobless rate fell to a two-year low of 8.8%, (from 8.9% in February) marking a decisive shift in the labour market.

• Saturday, April 2nd 2011 - 07:36 UTC

  Brazil’s February industrial production expands at fastest pace in eleven months

  

  Brazil’s industrial production rose at the fastest pace in 11 months in February. Output rose 1.9% from January and 6.9% from the same month a year earlier, the national statistics agency said.

• Saturday, April 2nd 2011 - 07:28 UTC

  Brazil planning further taxing on the inflow of “speculative” foreign capital

  

  The Brazilin currency rallied more than 1.0% on Friday closing at its strongest level since August 21, 2008. The Real jumped 1.16% to 1.612 per US dollar. The gains came after a Reuters report that the government has decided to tolerate a Real trading stronger than the 1.65-per-dollar market in the short term.

• Saturday, April 2nd 2011 - 06:53 UTC

  The delicate balance of ‘cooperation’ and ‘competition’ between China and Brazil

  

  Brazilian president Dilma Rousseff and her Chinese peer Hu Jintao will address the Libyan crisis and other issues related to the Chinese currency, Yuan, which has Brazilian manufacturers most concerned, anticipated the Brazilian Foreign Affairs ministry.

• Saturday, April 2nd 2011 - 06:39 UTC

  Nasdaq and ICE bid for New York Stock Exchange Euronext

  

  US exchanges Nasdaq and ICE have mounted a 11.3 billion US dollars bid for NYSE Euronext, topping a previous offer from Deutsche Boerse. The bid compares with Deutsche Boerse's offer of 10.2bn.

• Friday, April 1st 2011 - 17:53 UTC

  Uruguay’s fiscal deficit up in February equivalent to 1.4% of GDP

  

  Uruguay’s fiscal deficit in February increased GDP 0.3 percentage points over the previous month and reached 1.4% of GDP according to the Economy Ministry. In nominal terms the overall public sector deficit (including regional governments and the National Insurance bank) was 453 million US dollars, 20% higher than in January.

• Friday, April 1st 2011 - 17:51 UTC

  Uruguay’s government debt up 5.9% in 2010 but down to 57.9% of GDP

  

  Uruguay’s government debt increased both in gross and net terms in 2010, although at a slower rate than in 2009. Overall the debt increased 5.9% (1.3 billion US dollars) totalling 23.185 billion USD which is equivalent to 57.6% of GDP, according to the latest release from the central bank.

• Friday, April 1st 2011 - 01:54 UTC

  Mujica: we need Venezuela in Mercosur “to help balance the group”

  

  Uruguayan president Jose Mujica promised his peer Hugo Chavez he would press strongly for Venezuela’s incorporation as full member of Mercosur because this will help balance the group.