Economy

Economy
Monday, June 28th 2010 - 05:48 UTC

Chile has become a producer and exporter of premium Wagyu (Kobe) beef

Sales have quadrupled over the last five years

The traditional rivalry between Chile and Argentina is likely to be turned up a notch with the news that Chile could be soon challenging its meat-famous neighbour with the quality of its beef.

Monday, June 28th 2010 - 05:45 UTC

Netherlands and Uruguay to sign treaty for exchange of fiscal data

Fiscal elusion and evasion has become a crucial issue since stringent anti terrorist financial controls were imposed

The Netherlands is planning to exchange fiscal data in future with Uruguay, Mauritius and Brunei, reports the Dutch press.

Monday, June 28th 2010 - 05:42 UTC

China’s central bank assesses steps to make the Yuan a global currency

China must create more channels for investors and companies to use the Yuan if it wants to internationalize the currency and put it on a par with the Yen and the Euro, central bank officials and economists told a forum in Shanghai.

Monday, June 28th 2010 - 05:35 UTC

NZ Farming needs 60 million USD to complete dairy investment in Uruguay

The NZ company recently sold one of its assets in Uruguay

New Zealand Farming Systems Uruguay needs to raise about 60 million US dollars to complete the development of the company, says Chairman John Parker. The company was set up to develop dairy-farm operations in Uruguay and floated on the NZX in 2007.

Monday, June 28th 2010 - 00:58 UTC

Honda to start manufacturing cars in Argentina in 2011

The automobile industry in Argentina has been one of the most dynamic sectors of the economy

Honda plans to start manufacturing automobiles in Argentina next year, when the Japanese automaker’s plant in Campana, a city on the outskirts of Buenos Aires, opens, the press reported, citing company executives.

Saturday, June 26th 2010 - 05:47 UTC

Toronto G-20: Germany’s Merkel emphasizes “mutual understanding” with US

Growth and confidence are paramount, says US Treasury Secretary Thimothy Geithner

Germany's Chancellor has insisted that Europe's leaders are making good progress in talks with the US about how to bolster fragile economic growth. Angela Merkel told journalists at the G8 summit in Canada there was “mutual understanding” with President Obama over deficit reduction plans. Leaders are attending summits of the G8 and G20 groups of leading states.

Saturday, June 26th 2010 - 05:22 UTC

Argentine economy expands 9.7% in April, the fastest in two years

Soaring car sales to Brazil have helped boost Argentina’s industry

Argentina's economy grew at its fastest pace in nearly two years in April, expanding 9.7% percent from a year earlier, the government announced on Friday. Increased consumer spending and demand for Argentina industrial products, particularly automobiles, from Mercosur partner Brazil helped to boost the economy.

Saturday, June 26th 2010 - 05:16 UTC

“China playing games” with the announced Yuan flexibility, says Krugman

Nobel Laureate Krugman calls it “an exercise in bad faith”

Nobel laureate Paul Krugman said China’s pledge to make the Yuan more flexible was an “exercise in bad faith” intended to fend off international pressure for a stronger currency at this week’s Group of 20 leaders’ summit.

Saturday, June 26th 2010 - 05:13 UTC

China says there is no basis for major appreciation of the Yuan or raising rates

The People’s Bank of China which holds the largest international reserves in the world

Top Chinese financial officials defended the country’s current economic policy and stated there was no need for a major appreciation of the currency or an increase in interest rates since inflation was declining.

Saturday, June 26th 2010 - 05:08 UTC

China ends freeze on Argentina soy-oil imports, says Buenos Aires

Soy operators are waiting confirmation from Beijing

Argentina has reached an agreement with China to end the freeze on Argentine soy-oil imports, the government said on Friday. However given the cumbersome negotiation process some Argentine traders are waiting for an official confirmation from Beijing.

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