Stories for June 7th 2011

Tuesday, June 7th 2011 - 23:06 UTC
Brazil inflation slows down in May; Central bank decides Wednesday on rates

Brazilian inflation slowed to its lowest level in eight months in May as fuel costs dropped. The sharp drop in the monthly inflation reading provided relief to policymakers who have battled surging prices this year with three interest rate hikes, public spending cuts and steps such as credit curbs to take steam out of the economy.
Tuesday, June 7th 2011 - 22:59 UTC
Brazil, Uruguay, Chile and Peru shoppers, most promising for retail expansion

Brazil, Uruguay, Chile and Peru figure among the short list of top ranked developing countries for global retail expansion. In the 10th annual Global Retail Development Index (GRDI), elaborated by global management consulting firm A.T. Kearney, Brazil jumped to first place from number 5 in last year’s study.
Tuesday, June 7th 2011 - 22:31 UTC
Peru’s economic fundamentals sound and will be respected, says Humala

The Peruvian currency and Lima’s stock market partially recovered on Tuesday from the dramatic Monday collapse when it was confirmed nationalist Ollanta Humala had been elected in a very tight run-off to become the country’s next president.
Tuesday, June 7th 2011 - 22:00 UTC
Airlines suspend flights from Uruguay, fearing the volcanic ash cloud

Flights from Uruguay’s Carrasco international airport were suspended on Tuesday until further notice because of the proximity of Chile’s Puyehue volcano ash cloud that on Monday forced similar decisions for Buenos Aires City main international and domestic air terminals.
Tuesday, June 7th 2011 - 21:51 UTC
Uruguay complains about low ratings from the risk agencies

Economy minister Fernando Lorenzo accused rating agencies of failing to recognize the increasing strength of Uruguay’s sustained economic growth and therefore denying its investment grade status.
Tuesday, June 7th 2011 - 14:33 UTC
Ash cloud reaches Buenos Aires city at 5.000 metres height; all flights cancelled

The Chilean volcano Puyehue ash cloud has reached the Argentine capital after moving across the Greater Buenos Aires, but the due effects of the cloud are seen to be minimal. Meanwhile local airlines confirmed cancelled all flights until further notice at the international airport of Ezeiza and at the domestic-flights metropolitan Aeroparque.
Tuesday, June 7th 2011 - 06:07 UTC
Argentina hosts first meeting of Unasur Economy and Finance Council

Argentina will be hosting on Thursday the first meeting of the South American Economy and Finance Council that will bring together Economy ministers and Central bank governors from members of Unasur, Union of South American Nations.
Tuesday, June 7th 2011 - 04:00 UTC
Washington ‘ready and willing’ to work with Humala, says US top diplomat

“United States is “ready and very willing” to work with Peru's president-elect Ollanta Humala said Washington’s top diplomat for Latin America, Arturo Valenzuela during the Organization of American States meeting Monday in El Salvador.
Tuesday, June 7th 2011 - 03:54 UTC
“Day after” election jitters surface in Argentina’s capital and money markets

Argentina’s capital flight is forecasted to reach 17 billion US dollars in 2011, above the 11.4 billion of last year because of electoral year uncertainties, and in spite of a larger trade surplus.
Tuesday, June 7th 2011 - 03:48 UTC
The volcanic ash cloud could reach Buenos Aires city on Tuesday

The ash cloud hovering above Argentine Northern Patagonia since Saturday after the eruption of the Puyehue volcano in the Chilean Andes may reach the city of Buenos Aires on Tuesday, experts assured.