Economy

Wednesday, February 14th 2007 - 20:00 UTC
Falklands' new port development plan moves on

The Falkland Islands Development Corporation (FIDC) this week announced the appointment of Scandinavian port experts Royal Haskoning to create a port development plan, which it is hoped will draw together the diverse needs of everyone using port facilities in the Falkland Islands.
Wednesday, February 14th 2007 - 20:00 UTC
Argentine banks switch to Europe

US financial and anti-money laundering regulations have increased the cost of doing business with US banks to such an extent that Latin American businesses are turning to European financial institutions, Argentina's central bank chief said yesterday.
Wednesday, February 14th 2007 - 20:00 UTC
Fiat and India's Tata to build light trucks in Argentina

Fiat and Tata announced in Milan, Italy the expansion of their strategic co-operation with their first industrial project outside India. Fiat will build a Tata bakkie (with Fiat badges) at its plant in Córdoba, Argentina, under an agreement that followed a feasibility study started in July 2006.
Wednesday, February 14th 2007 - 20:00 UTC
Bank of England hits of new interest rates rise

The Bank of England has hinted that it is likely that interest rates will need to be increased once more to keep inflation in check, although analysts do not expect any rise to be imminent.
The Bank's latest inflation report forecasts that consumer price inflation would continue to exceed the 2% target if rates stayed at 5.25%.
Wednesday, February 14th 2007 - 20:00 UTC
Strong stock markets reactions to Fed's forecasts

Stock markets in New York and most of Latinamerica set new record gains on Wednesday following US Federal Reserve Chairman Ben Bernanke statements that the US economy should grow modestly in 2007 despite a slowdown in housing.
Tuesday, February 13th 2007 - 20:00 UTC
Shipowners order US$105.5B of new vessels in 2006

According to London-based Clarkson, the world's biggest shipbroker, shipowners ordered new vessels worth a record US$105.5 billion in 2006. The trend has been spurred by tanker owners keen to upgrade their fleets ahead of IMO single-hull tanker deadlines that kick in at the end of the decade, according to an article published by Gulf News.
Tuesday, February 13th 2007 - 20:00 UTC
Eurozone growth surprises all 2006 forecasts: 2.7%

Eurozone growth ended 2006 strongly, thanks to better-than-expected growth in Germany and recovery in Italy. Gross domestic product across the 13 countries that use the euro grew 0.9% between October and December, compared with the previous three months.
Monday, February 12th 2007 - 20:00 UTC
Venezuela may control food distribution

President Hugo Chavez's government has drafted a decree allowing it to take control of food distribution chains, possibly including supermarkets and storage depots, if services are interrupted, officials said Sunday.
Monday, February 12th 2007 - 20:00 UTC
Ecuador delays debt payment and readies for political battle

Ecuador's new administration of President Rafael Correa that has threatened to default on the country's debt, will use a 30-day grace period to make a payment that is due this week, Deputy Economy Minister Fausto Ortiz told reporters in Quito.
Monday, February 12th 2007 - 20:00 UTC
Asian fungi detected in Argentina soybean cultivation

Argentina detected the presence of dangerous Asian fungi in soybean cultivations in the province of Santa Fe the second oilseed producing area of the country, reported the Agriculture Health and Quality National Service, SENASA.