Economy
EconomyLux & Ireland richest countries in EU; UK above average
Luxembourg is by far the richest country in the European Union, with Ireland second at almost half its gross domestic product per capita, while Bulgaria is the poorest, according to the latest release from the European Union statistics office.
Venezuelan economy displaces Argentina as third largest
Venezuela will replace Chile as the country with the region's highest GDP per capita and Argentina as the region's third-largest economy, according to a Latin Business Chronicle analysis of data from the International Monetary Fund (IMF).
Brazil plans to invest 40 billion U$D in agriculture 2008/09
Brazil will be announcing this week the annual investment plan in support for agriculture and livestock which is estimated to increase 12% totaling in the region of 40 billion US dollars, said Agriculture Minister Reinhold Stephanes.
US dollar drops to July 2002 level in Uruguay markets
For the sixth week running the US dollar has depreciated againts the Uruguayan peso in the local Money market accumulation a loss of 9.98%. In the 26 weeks of 2008, the Uruguayan peso has increased during 19.
Brazil targets joining world milk production short list in 5 years
In five years Brazil could climb from seventh to first position as the world's main milk producer, according to Marcus Ellias head of the trust controlling the former Italian dairy giant Parmalat Brazilian branch.
Punta Arenas short of staples because of farmers' conflict
Punta Arenas in the extreme south of Chile is suffering a critical shortage of staples mainly sugar, rice and flour as a direct consequence of the Argentine farmers conflict that has been dragging for over 100 days.
Lula and top aides in financial summit to curb inflation
Brazilian President Lula da Silva, cabinet ministers and his main economic advisors are considering a range of measures, (from budget cuts to pruning credit) with the purpose of curbing inflation according to Folha de Sao Paulo
Roughly 60% Chileans in debt; 80% overspends
Roughly 60% of the Chilean population is in debt, according to a study published this week by the country's Central Bank. And perhaps surprisingly, middle class Chileans account for about 67% of the debt.
US drivers making less mileage for sixth month running
At a time of record-high gasoline prices and a corresponding surge in transit ridership, US citizens are driving less for the sixth month in a row, highlighting the need to find a more sustainable and effective way to fund highway construction and maintenance, said United States Transportation Secretary Mary E. Peters.
Argentina honoring contracts with soy from Paraguay
Argentina is only shipping soybeans from Paraguay in an attempt to honor overseas contracts since no local supplies are arriving to export ports because of the 100-day farmers' stand off with the administration of President Cristina Fernandez de Kirchner.
