Stories for July 2011

Friday, July 15th 2011 - 06:21 UTC
Argentines would like to buy at “official” inflation and be paid in real inflation

According to Argentina’s statistics office Indec consumer inflation was 0.7% pushed mostly by the cost of clothing. However private economic consulting offices estimate the index was double the official announcement.
Friday, July 15th 2011 - 06:18 UTC
March for education reform in Santiago de Chile turns violent with 62 arrests

A haze of tear gas floated through the air, blending in with Santiago’s smog as the Chilean flag atop La Moneda sat in solitude with an occasional breeze. Lemon halves littered the streets as flying glass bottles shattered on the concrete.
Friday, July 15th 2011 - 06:13 UTC
Argentine central bank purchases 500m dollars to stop appreciation of the Peso

The Argentine Central bank has purchased so far this week 500 million US dollars to ensure that the country’s exporters retain a favourable exchange rate and importers are not that tempted to buy foreign goods.
Friday, July 15th 2011 - 06:09 UTC
“Grain prices are more linked to the US dollar than to food demand”

“Saving in US dollars or in soybeans is the same” cautioned Argentine economist Carlos Melconian, who argued that “grain and oilseed prices are more linked to the value of the dollar than to demand for food produce”.
Friday, July 15th 2011 - 06:04 UTC
China forecasted to become Latin America’s second trade partner by 2015

China will become Latin America's second largest trade partner as early as in 2015, the UN Economic Commission for Latin America and the Caribbean (ECLAC) said this week.
Friday, July 15th 2011 - 06:01 UTC
“Home, sweet home”, ever so distant (and expensive) for Chinese citizens

China on Thursday pledged to extend limits on new home purchases to smaller cities as authorities step up efforts to cool the country's red-hot real estate market. The State Council, or cabinet, said it would tighten existing property restrictions in cities that have seen excessive price rises to push them “back to reasonable levels”.
Friday, July 15th 2011 - 05:54 UTC
Italian parliament does its homework and approves sweeping austerity budget

Italy's upper house of parliament has agreed to a sweeping austerity budget in a move intended to allay concerns over a possible bailout. Meanwhile, Greece must come to terms with another ratings downgrade.
Friday, July 15th 2011 - 05:49 UTC
Attempt to create South Atlantic whale sanctuary rejected in IWC meeting

International Whaling Commission's (IWC) annual meeting closed after a tense final day when relations between opposing blocs came close to collapse. Latin American nations attempted to force a vote on a proposal to create a whale sanctuary in the South Atlantic.
Friday, July 15th 2011 - 02:08 UTC
S&P warns of a “one in two” chance of downgrading US debt rating

Standard & Poor's has become the latest ratings agency to issue a warning of a possible downgrade to the US's debt rating. It said there was a “one-in-two” chance that it may cut the US's AAA rating if a deal to raise the government's debt ceiling is not agreed upon soon
Thursday, July 14th 2011 - 23:50 UTC
Murdoch and son James think twice and agree to testify before British Parliament

Media tycoon Rupert Murdoch and his son James bowed late Thursday to threats to find them in contempt of British Parliament and agreed to testify about the phone-hacking scandal to lawmakers on July 19.