Friday, March 12th 2010 - 00:08 UTC

“God is Bolivarian” and will bring rain to Venezuela’s power stations, says Chavez

Higher prices for some products of the Bolivarian food basket

Venezuelan president Hugo Chavez faces a major power shortage that could severely damage the country’s economy and plunge his popularity, but he is confident sufficient rainfall is on the way to fill the lake of a crucial dam because “God is Bolivarian”.

Friday, March 12th 2010 - 00:00 UTC

February inflation in China anticipates further tightening of credit

The official line is that price rises will be “mild and controllable”

Chinese inflation hit a 16-month high in February, causing economists to call for the government to tighten the economy to prevent overheating. The annual rate of consumer price inflation rose to 2.7% in February, up from 1.5% in January, and ahead of analysts' expectations of 2.3%.

Thursday, March 11th 2010 - 23:59 UTC

US February budget deficit was the largest in history: 221 billion USD

Treasury Secretary Timothy Geithner called the deficit “unsustainable”.

The US government recorded a budget deficit of 221 billion US dollars in February - the largest monthly deficit in its history. The total deficit since the beginning of the fiscal year in October now stands at 651.6 billon according to US Treasury figures.

Thursday, March 11th 2010 - 23:45 UTC

China’s exports, imports soar in February, in spite of New Year festivities

 Growing rift with the US over the value of the Yuan

China's exports jumped by 46% in February compared with a year ago, raising hopes of a strong recovery in global trade. The increase was higher than analysts' expectations of a rise of between 35% and 40%.

Thursday, March 11th 2010 - 00:43 UTC

More oil in Brazil’s Santos Basin; Petrobras investment plan: 45 billion USD

The pre-salt region runs 800 kilometres along the Brazilian coast

Brazilian government managed corporation Petrobras, Repsol-YPF and BG Group found more evidence of oil in the same offshore Brazilian sub-salt block where the companies’ Guara field holds as much as 2 billion barrels of crude.

Wednesday, March 10th 2010 - 19:24 UTC

China plans to buy 218 commercial aircraft this year

Airbus A320 with “significant price concessions”

China mainland carriers plan to order as many as 218 commercial aircraft this year in order to cope with an expected surge in demand for air travel in the coming years, state media reported this week.

Wednesday, March 10th 2010 - 06:38 UTC

US and Brazil not interested in trade war and “ready to negotiate”

US Secretary of Commerce Gary Locke

Visiting US Commerce Secretary Gary Locke said Tuesday that Washington was seeking talks with Brazil before it imposes retaliatory trade tariffs for US cotton subsidies the WTO ruled as discriminatory.

Wednesday, March 10th 2010 - 05:49 UTC

Argentina’s YPF imports fuel to meet demand for the first time in 30 years

Loading gasoline in Buenos Aires

Argentine-Spanish oil company YPF said on Tuesday that it plans to import 50 million litres of gasoline as demand outstrips supply. Argentina, an oil-producing country where fuel is subject to government price controls, has not imported gasoline in 30 years.

Wednesday, March 10th 2010 - 05:46 UTC

Brazil expects second best crop this year with 145.1 million tons

Soy is the chief production, accounting for almost half of the total crop

Brazil will harvest a grain crop of 145.1 million tons this year, a volume very close to the record 145.8 million tons of 2008, said the government’s statistics office, IBGE on the basis of February field data.

Tuesday, March 9th 2010 - 19:03 UTC

Immediate infrastructure reconstruction cost for Chile, 1.2 billion USD

Outgoing Chilean Public Works minister Sergio Bitar

Chilean Public Works Minister Sergio Bitar estimated that the reconstruction and reparation of sidewalks, airports, canals, and other infrastructure works will cost around 1.2 billion US dollars, after the earthquake that devastated the nation. The quake was an 8.8 on the Richter scale.


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