Economy

• Thursday, February 3rd 2011 - 16:40 UTC

  World food prices at historic peak in January seventh month running, says FAO

  

  World food prices surged to a new historic peak in January, for the seventh consecutive month, according to the updated FAO Food Price Index, a commodity basket that regularly tracks monthly changes in global food prices.

• Thursday, February 3rd 2011 - 01:53 UTC

  Spain’s second biggest bank boosted by strong Latin American profits

  

  BBVA, Spain's second-biggest bank, reported on Wednesday a full year 9.4% net profit increase in 2010 as solid results from Latin America offset continued weakness in its domestic market.

• Wednesday, February 2nd 2011 - 18:06 UTC

  In spite of 100 years of production, Venezuela claims world’s largest proven oil reserves

  

  Venezuela holds 297 billion barrels of proven oil reserves, most of it in tar sands but sufficient to be ahead of Saudi Arabia considered by world experts the number one country in reserves.

• Wednesday, February 2nd 2011 - 16:35 UTC

  Mexico produces first “artisan honey-ales” directed to the gay-lesbian market

  

  A Mexican brewery has launched the first beer targeted to the gay community with a slight honey flavour and with plans to market the product in Mexico, Colombia and Japan among other interested countries.

• Wednesday, February 2nd 2011 - 07:06 UTC

  Argentina declares compulsory conciliation to end crippling strike at export ports

  

  Argentina's government has ordered unions to suspend a week-old strike at leading grains ports for a 15-day period to hold talks with company bosses, a Labour Ministry spokesman said on Tuesday.

• Wednesday, February 2nd 2011 - 06:53 UTC

  Trade deficit main “concern” for Argentine/Brazilian relations

  

  Argentine Foreign Affairs minister Héctor Timerman revealed Tuesday that the trade deficit Argentina has with Brazil is “concerning”, and indicated that both nations are working “to reduce it.”

• Wednesday, February 2nd 2011 - 06:49 UTC

  Latin America inter-region trade soared 24.6% in 2010

  

  Inter-region Latinamerican trade soared 24.6% to 133 billion US dollars during 2010 according to the latest report from ALADI (Latinamerican Integration Association) released Tuesday in Montevideo. This signals a significant recovery from the late 2008 financial crisis but still is short of that year’s record of 146 billion USD.

• Wednesday, February 2nd 2011 - 01:13 UTC

  Soy prices soar as Argentine ports are blocked by week-long strike

  

  The provincial government of Santa Fe home of Argentina's grain export hub has requested the federal government to help end a week-old strike that is delaying shipments from one of the world's biggest food suppliers, the provincial Labour minister said on Tuesday.

• Wednesday, February 2nd 2011 - 00:22 UTC

  Lack of jobs, rising food and energy prices could lead to spark war within nations

  

  The world economy is beset by problems such as high unemployment and rising prices which could fuel trade protectionism and even lead to war within nations, the head of the International Monetary Fund warned.

• Wednesday, February 2nd 2011 - 00:13 UTC

  Chile’s telephone numbers revamped to promote competition

  

  New rules in Chile have shifted ownership of the telephone number from telephone companies to individuals for the first time ever. The legal change will enable customers to switch their service provider while retaining their number.