Economy

Economy
Wednesday, August 11th 2010 - 23:56 UTC

Chinese industrial growth slows down for fifth consecutive month

Inflation in July also accelerated as floods destroyed crops driving up food prices

Chinese industrial growth slowed again in July, adding to data suggesting that the country's economy is cooling. Factory output was up 13.4% from July 2009, but this was the fifth consecutive month the annual pace had slowed and the lowest rate of 2010.

Wednesday, August 11th 2010 - 06:27 UTC

Private sector anticipates strong performance of Argentine economy in 2010/11

Argentine imports in first half of 2010 soared 43% over 2009

Argentina’s Finance Executive's Institute (IAEF) indicates Argentina could grow 6.5% in 2010 and 4.5% in 2011 according to its August report released this week.

Wednesday, August 11th 2010 - 06:25 UTC

China’s import growth slowed down in July, while exports kept rising

Controversy with the US over the right price for the Yuan is anticipated

China's import growth slowed in July, which economists are seeing as a sign that the country's rapid economic expansion is cooling. Imports climbed by 22.7% compared with a year ago to 116.8 billon US dollars, which is well below the 53% expansion seen in June.

Wednesday, August 11th 2010 - 06:21 UTC

Japan leaves benchmark rate on hold; fears Chinese slowdown

Naoto Kan does not discard additional stimulus spending

Japan's central bank has kept its benchmark interest rate unchanged as it tries to nurture the country's slow recovery from recession while also attempting to tackle deflation. Rates have been held at 0.1% since the end of 2008.

Wednesday, August 11th 2010 - 06:19 UTC

Fed admits modest US recovery and will buy long term government debt

Fed chief Ben Bernanke concerned with high unemployment and deflation

The US Federal Reserve announced Tuesday steps to boost economic recovery and will be using proceeds from its investments in mortgage securities to buy longer-term government debt. The Fed also kept interest rates unchanged at between zero and 0.25%.

Wednesday, August 11th 2010 - 06:07 UTC

Two leading Brazilian banks join to expand operations in Africa

Brazilian Finance Minister Guido Mantega

Two leading Brazilian banks have agreed to acquire stakes in BES Africa, a holding company belonging to Portugal’s biggest publicly traded bank that makes investments in Africa.

Wednesday, August 11th 2010 - 05:51 UTC

Uruguay concerned with labour demands and fishing vessel seizures in Montevideo

Over seventy foreign flagged fishing vessels operate from Montevideo

Alleged labour disputes involving hundreds of thousands of US dollars have left seven Spanish fishing vessels legally stranded in Montevideo, threatening the reputation of Uruguay’s main port to continue as a South Atlantic fisheries hub.

Tuesday, August 10th 2010 - 14:19 UTC

Since last year Chilean women are a majority in higher education and increasing

Female participation in the work force is also growing rapidly

Last year was the first time that a majority – 51% - of all higher education students in Chile were women, the Education Ministry reported last week.

Tuesday, August 10th 2010 - 11:51 UTC

Basic Foods’ Basket in Argentina increased 35.9% in twelve months

CBA and CBT help to measure indigence and poverty in Buenos Aires City

The Basic Foods Basket, CBA, an index from Argentina’s Foundation for Latin American Economic Research (FIEL) increased 0.6% in July compared to the previous month, 21% in the first seven months of the year, and 35.9% over a year ago.

Tuesday, August 10th 2010 - 11:39 UTC

Chilean economy recovering strongly shows Central bank data

Across the board increase in activity

Chile’s Central Bank released the Economic Activity Index (IMACEC) results for June on Sunday showing an increase in economic activity of 6.8%, over June 2009. The results showed an increase in activity across the board — from the transportation and electric industries, to gas and water.

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