Stories for February 2011

Thursday, February 10th 2011 - 22:42 UTC
“Currencies war”, new challenge for EU/Mercosur trade agreement

The European Union Trade Commissioner Karen De Gucht anticipates a full trade agreement with Mercosur will be reached in a “short time” given the negotiations “unusual” speed but also cautioned about new challenges such as currencies over or under appreciation.
Thursday, February 10th 2011 - 10:53 UTC
Chile prepares for energy rationing; insufficient rainfall caused by La Niña

The strongest La Niña weather cycle in 35 years has reduced rainfall by up to 46% in some areas of Chile. The dry season began last March and is expected to continue through May.
Thursday, February 10th 2011 - 07:02 UTC
Brazil poised for another record crop of soybeans: 69/70 million tons

Brazil could harvest a record crop of 70 million tons of soybeans in 2011 because of improved climate conditions and expansion of the area planted according to Hamburg based Oil World consultants.
Thursday, February 10th 2011 - 06:55 UTC
WikiLeaks: US believes former Chilean leader death “to remain a mystery”

An embassy cable published this week by WikiLeaks revealed a 2009 email in which then-U.S ambassador to Chile, Paul Simons, predicted that former President Eduardo Frei Montalva’s controversial 1982 death would never be fully understood. “The tragic recent history of Chile continues to divide its people, and the death of this emblematic President seems destined to remain a mystery.”
Thursday, February 10th 2011 - 06:39 UTC
Uruguay has the highest per capita milk consumption: 230 liters annually

Uruguay has the highest per capita consumption of milk in Latin America averaging between 225 and 230 liters. This compares favorably with Argentina’s 220 liters, Brazil’s 110 and Chile’s 100.
Thursday, February 10th 2011 - 06:26 UTC
Argentine minister recommends US diplomacy “to hire more competent employees”

Argentina’s Federal Planning Minister Julio De Vido referred to the recently published Wikileaks documents by Spanish newspaper El Pais, and advised the US embassy in Buenos Aires “to hire more competent employees” since performing a “cut-and-paste task from the yellow press is something any idiot can do.”
Thursday, February 10th 2011 - 06:22 UTC
NYSE Euronext and Deutsche Boerse announce merger proposal

Two of world's leading exchanges, Deutsche Boerse and NYSE Euronext, are in advanced talks about a merger. The deal would create the world's biggest stock exchange firm by revenue and profits and would be jointly based in New York and Frankfurt.
Thursday, February 10th 2011 - 05:55 UTC
London and Toronto tie-up plan to create world’s largest mining and energy stock market

The London Stock Exchange is to buy Canada's TMX to claw back lost market share and create the world's fourth-largest bourse trading 4.1 trillion US dollars of stock a year.
Thursday, February 10th 2011 - 05:50 UTC
Bernanke warns US job creation too weak and calls for budget discipline

US unemployment remains too high for policymakers' comfort despite signs of strength in the economic recovery, Federal Reserve Chairman Ben Bernanke said. In testimony to the US House of Representatives' Budget Committee that largely echoed a speech he delivered last week, Bernanke also warned about the dangers of unsustainable budget deficits.
Thursday, February 10th 2011 - 02:58 UTC
Wind farms programmed to supply 25% of Uruguay electricity grid

Uruguay intends to develop as many wind farms as its electricity grid can support, effectively diversifying its energy supply beyond hydropower and fossil fuels. At present, the country is in the process of installing 500MW of wind power projects.