Economy

Economy
Thursday, October 7th 2010 - 00:24 UTC

Uruguay targets EU tariff free feed-lot beef quota

Fernando Perez Abella, Vice-president of INAC

Uruguay is optimistic about taking a share of the tariff free 20.000 tons of the feed-lot beef quota which the European Union establishes annually. The dossier with all the requested information has been sent to the EU and if finally approved would further boost the Uruguayan cattle and meat industries which are experiencing one of its best moments in history.

Wednesday, October 6th 2010 - 23:54 UTC

IMF recommends Latam fiscal savings to address persistent capital inflows

The region is exiting the world recession faster than expected

Latin America is exiting from the global financial crisis faster than anticipated, and should use the opportunity to boost fiscal savings that can slow inflation and prevent overheating, the IMF said Wednesday.

Wednesday, October 6th 2010 - 23:21 UTC

Chilean state oil company ENAP strikes natural gas deposit in Tierra del Fuego

Methanex, ENAP’ main natural gas client in Punta Arenas

Chilean state owned oil and gas company Empresa Nacional del Petroleo SA, Enap, discovered a new natural-gas well on the Arenal exploration block on the Tierra del Fuego island in the extreme south Magallanes region, the company said Wednesday.

Wednesday, October 6th 2010 - 23:01 UTC

Chinese millionaires love foreign luxury cars: 460.000 in seven months

Two delights: the Lincoln Navigator and the Cadillac Escalade, with a starting price of 250.000 US dollars

China's imported auto market continues to flourish with sales of 460,000 in the first seven months of this year. It represents a growth rate of 150% compared with the same period of last year.

Wednesday, October 6th 2010 - 22:41 UTC

Chilean wine exports reach 1.5 billion USD in 12 months, but profits down

A cheap dollar is eroding the industry’s competitiveness

Chilean bottled wine exports soared 33.3% and 25.8% during August in volume and value helping to reach the 1.5 billion US dollars and 749 million litres in the last twelve months, with 18.9% and 11.2% increases in volume and value according to the latest release from Vinos de Chile.

Wednesday, October 6th 2010 - 17:39 UTC

IMF and Kirchner administration agree: economy to expand strongly 2010/11

Strong trade with Brazil vital for Argentina’s good performance

The International Monetary Fund warned of considerably high price index inflation and seemed sceptic of official GDP growth reports in Argentina as it presented its World Economic Outlook report, although it forecast a 7.5 percent growth, with a strong expansion partly due to the favourable global scenery and a strong trade with Brazil.

Wednesday, October 6th 2010 - 17:34 UTC

“Argentina seeks to service all its debts” promises Mrs Kirchner in Germany

The Argentine president and Chancellor Angela Merkel

“Argentina seeks to service all its debts” said President Cristina Fernández de Kirchner following a meeting with German Chancellor Angela Merkel at the chancellery in Berlin. Mrs. Kirchner is on a three day high profile visit to Germany where she also met with President Christian Wulff in Berlin’s Bellevue Palace.

Wednesday, October 6th 2010 - 02:19 UTC

IMF says financial system remains “Achilles heel of global recovery”

José Viñals, Financial Counselor and Director of the IMF Monetary and Capital Markets Department

Progress to restore global financial stability has suffered a setback in advanced economies, the International Monetary Fund said in its latest Global Financial Stability Report, with markets still sensitive to negative surprises.

Wednesday, October 6th 2010 - 02:15 UTC

IMF chief admits danger of “currencies as a policy weapon”

Managing Director Dominique Strauss-Kahn second thoughts

Countries risk undermining the global economic recovery if they use their currencies to try to boost domestic growth, the head of the International Monetary Fund warned on Tuesday in a newspaper interview.

Wednesday, October 6th 2010 - 00:13 UTC

Fed and ECB “flood of liquidity” plunging the world into “chaos” warns Stiglitz

Economics Nobel Prize Stiglitz: Brazil and Japan reacted correctly

The policies of extremely low interest rates maintained by the Federal Reserve and the European Central Bank are plunging the world into chaos instead of helping with the recovery of the global economy, the winner of the Nobel Prize in economics, Joseph Stiglitz, said on Tuesday.

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