Stories for August 5th 2008

Tuesday, August 5th 2008 - 21:00 UTC
Spanish gas company incorporates local partner in Argentina

Spanish utility Gas Natural announced Monday in Buenos Aires it had agreed to sell 19.6% of its Argentine subsidiary to a local pharmaceutical group Chemo for 56 million US dollars.
Tuesday, August 5th 2008 - 21:00 UTC
Fall in minerals' prices plunges Latam stock markets

Latin American stock markets plunged Monday, led by a slide in Brazilian and Mexican equities as prices for resources sparked a broad sell-off and growing fears about the performance of the US economy.
Tuesday, August 5th 2008 - 21:00 UTC
Europe largest bank suffers 28% fall in half year profits

Europe's largest bank HSBC has warned that conditions in financial markets are at their toughest “for several decades” after suffering a 28% fall in half-year profits. HSBC saw profits drop by 3.9 billion to 10.2 billion US dollars in the first six months of the year, as its North American arm made a 2.8 billion loss.
Tuesday, August 5th 2008 - 21:00 UTC
US June inflation hits 0.8%, highest since February 1981

Consumer spending in the United States slowed in June, while inflation in June was the highest since 1981. Inflation-adjusted spending fell 0.2% in June, according to the US Commerce Department.
Tuesday, August 5th 2008 - 21:00 UTC
Land reform single major issue for next Paraguayan leader

Land reform stands out as the single biggest issue for Paraguay, a landlocked country of just under 7 million people, where one percent of the population controls 77% of the arable fields.
Tuesday, August 5th 2008 - 21:00 UTC
China says “no need for more aggressive control” of inflation

China policies in support of small and labor intensive enterprises are taking effect and there is “no need for more adjustment measures”, said on Monday a high ranking Chinese member of the Communist party.
Tuesday, August 5th 2008 - 21:00 UTC
Brazil and Argentina leaders ratify “strategic alliance”

Argentina and Brazil ratified their “strategic alliance” on Monday during a business seminar opened by Presidents Cristina Fernandez de Kirchner and Lula da Silva in Buenos Aires.
Tuesday, August 5th 2008 - 21:00 UTC
Uruguay July inflation eases, but above 2008 target

Uruguay's July consumer prices index CPI marked 0.45%, the lowest since last April, accumulating 5.91% in the first seven months of 2008 which, according to analysts makes it difficult to keep to the original Central Bank estimates of 3 to 7% for the twelve months.
Tuesday, August 5th 2008 - 21:00 UTC
Appreciation of the Real threatens Brazilian economy

Brazil's Minister of Economy warned Tuesday that the sustained appreciation of the local currency Real against the US dollar has reached “a limit” and if the Real continues to advance, “it could ruin our external accounts”.
Tuesday, August 5th 2008 - 21:00 UTC
Uruguay's ruling coalition leads in vote intention with 42%

Uruguay's ruling coalition leads vote intention with a solid 42%, seven points ahead of the main opposition party, Nacional with 35%, according to a public opinion poll from consultants Cifra which was released on Monday.