Economy

Economy
Friday, September 17th 2010 - 03:21 UTC

He had to borrow money for a bus ticket to collect a 2 million USD lottery prize

The Golden Five chance game and the lucky numbers 06, 11, 18, 22, 28

A Uruguay construction worker had to borrow the equivalent of seven US dollars from a neighbour to get to work. It was Thursday morning and several turned up to loan him the requested money.

Thursday, September 16th 2010 - 22:57 UTC

Poverty rate and number of millionaires in the US soaring

43 million poor, 51 with no health insurance and 5.6 millionaire households

The poverty rate in the United States rose for the third straight year, reading 14.3% in 2009 (one in seven), up from 13.2% a year earlier. More than 43 million people are living in poverty and almost 51 million have no health insurance coverage.

Thursday, September 16th 2010 - 05:15 UTC

Uruguayan economy expands 9.8% in first half over last year

Domestic demand has been one of the locomotives of Uruguay’s solid growth

The Uruguayan economy continues to expand strongly having advanced 2.3% in the second quarter over the first quarter and 10.4% compared to a year ago and 9.8% over the fist half of 2009, according to the latest release from the Central Bank.

Thursday, September 16th 2010 - 05:06 UTC

USDA forecasts Uruguay’s beef exports will increase to 400.000 tons in 2011

President Mujica gives the 1rst Prize-Hereford during the curently Prado Rural Show

Uruguay’s beef exports may rise by 2.6% next year as demand recovers from the global recession, according to a unit of the U.S. Department of Agriculture.

Wednesday, September 15th 2010 - 05:57 UTC

Strong Colombian peso debilitating exports and eliminating jobs

The country is a leading exporter of flowers, a labour intensive industry

The strong appreciation of the Colombian peso which so far this year has gained 14% against the US dollar and now stands below the 1.800 peso milestone is hitting exporters and could have an impact on employment, one of the most sensitive issues for Colombian public opinion.

Wednesday, September 15th 2010 - 00:27 UTC

Ending the commodities ‘curse’

Augusto de la Torre is chief economist for Latin America and the Caribbean at the World Bank

By Augusto de la Torre (*) - In 1672, Potosí, Bolivia, was one of the largest and richest cities in the world. Located at the base of Cerro Rico, Potosi was a hotbed of Spanish silver mining, the operations of which were so prolific; a Potosi became synonymous for great riches.

Tuesday, September 14th 2010 - 03:57 UTC

S&P raises Argentina’s long term credit rating based on an improving economy

The Argentine economy is forecasted to expand 7% this year and 4.5% in 2011

Standard & Poor's raised on Monday its long-term foreign currency credit rating on Argentina by one notch, to B from B-minus, citing declining debt levels and an improving economy in 2010.

Tuesday, September 14th 2010 - 03:08 UTC

Wide ranging trade deal brings Taiwan closer to China

Bilateral trade reached 110 billion US dollars in 2009

A historic trade deal between China and Taiwan took effect Sunday signalling improvement in relations between the two countries after they were split by a civil war over 60 years ago.

Tuesday, September 14th 2010 - 00:46 UTC

Cuba with unions support announces elimination of 500.000 jobs to boost economy

President Raul Castro wants to streamline the inefficient Cuban economy

The Cuban government will cut more than 500,000 state jobs by March as part of a plan to reduce inefficiencies, the country’s largest union said in a statement. The reductions are part of President Raúl Castro’s goal of eliminating 1 million state jobs by 2015, according to the statement.

Monday, September 13th 2010 - 22:17 UTC

EU Trade commissioner in Brazil to advance trade talks with Mercosur

Karel De Gucht will be visiting Brazil and Argentina

European Union Trade Commissioner Karel De Gucht is expected in Brazil to advance trade talks with Mercosur. Brazil currently holds the Mercosur rotating chair. The top EU official will visit Argentina later in the week.

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