Stories for May 2011

Monday, May 9th 2011 - 18:59 UTC
Brazil’s Vale invests 2 billion USD to develop Mozambique vast coal reserves

The world’s largest iron-ore producer, Brazil’s Vale will double investments in Mozambique to 4 billion US dollars in the next four years, said on Monday Chief Executive Officer Roger Agnelli.
Monday, May 9th 2011 - 18:52 UTC
Cuban government plans to allow residents to travel abroad as tourists

The Cuban government said Monday that it plans to study ways to allow residents of the island to travel abroad as tourists, suggesting it will ease the bureaucratic hurdles and outright restrictions that prevent many residents from leaving.
Monday, May 9th 2011 - 18:48 UTC
Repsol plans to sell an additional 3% of YPF in the Argentine market

Spain’s oil company Repsol plans to sell up to 3% of YPF on the Argentine market as part of a gradual divestment of its stake in that unit, according to company sources.
Monday, May 9th 2011 - 18:45 UTC
Argentines no longer the world’s king “beef consumers”

Argentines are no longer the king ‘beef-consumers’ with the average 63.3 kilos per person per year in the 2003/2010 period falling to 46.7 kilos in the first quarter of this year, according to Economia & Regiones private consultancy report.
Monday, May 9th 2011 - 16:54 UTC
Global central bankers concerned with commodity markets’ volatility

Global central bankers voiced concern about recent volatility in commodity markets, saying they needed to better understand its impact on inflation at a time when some emerging economies may be overheating.
Monday, May 9th 2011 - 11:06 UTC
Chile’s consumer inflation falls in April, but still above official target

Chile’s consumer prices rose 0.3% in April from March, reported the National Statistics Institute. Annual inflation reached 3.2%, down from 3.4% a month earlier, and 1.6% in the first four months of 2011.
Monday, May 9th 2011 - 06:46 UTC
Chilean industrial production booming; unemployment steady at 7.3%

Industrial production in Chile increased at the fastest ever pace in the 12-month period ended March, data released by the National Institute of Statistics revealed. Industrial output climbed a record 30.9% in the year ended March, marking the biggest growth in the history of the indicator. In February, output rose 1.9%.
Monday, May 9th 2011 - 06:40 UTC
Menem and former beauty queen are formally divorced

Former Argentine president Carlos Menem (1989/1999) and Chilean ex Miss Universe and CNN television presenter Cecilia Bolocco were formally divorced by a Buenos Aires court last week.
Monday, May 9th 2011 - 06:09 UTC
IDB opens discussion on food prices shock, inflation and protecting the urban poor

Rising international food prices could trigger an acceleration of inflation in several countries in Latin America and the Caribbean this year, highlighting the need for policies to protect the urban poor, according to a new study by the Inter-American Development Bank, (IDB).
Monday, May 9th 2011 - 06:07 UTC
Latam development bank plans more flexible loans tailored to countries needs

The Inter-American Development Bank (IDB) announced the approval of a Flexible Financing Facility (FFF) that will enable Latin American and Caribbean countries to tailor loan terms and conditions to suit their individual needs, as well as to use hedges to manage interest rate and currency risks associated with their IDB debt.