Economy

Friday, January 17th 2014 - 07:00 UTC
Chile's main ports remain paralyzed amid clashes with police and suspended negotiations

Chile's main ports continued paralyzed as negotiations between striking workers and authorities are at an impasse and ugly skirmishes with police play out amid millions of cases of perishable export produce which are likely to spoil.
Thursday, January 16th 2014 - 09:34 UTC
Argentine central bank reserves fall below the 30bn dollars threshold

Argentine central bank international reserves continued to erode and on Wednesday pierced through the 30bn floor threshold reaching 29.858bn dollars, the lowest level since November 2006. On Tuesday reserves stood at 30.019bn.
Thursday, January 16th 2014 - 09:22 UTC
US dollar reaches new record in Argentina, 11.25 Pesos

The US dollar in Argentina continued to climb on Wednesday and reached new highs both in the official market and in parallel trading or the 'blue market'. The official rate closed at 6.75 Pesos to the greenback while the 'blue' reached a record 11.25 Pesos (selling price) with a 66.5% gap between both markets.
Thursday, January 16th 2014 - 09:17 UTC
Brazil raised the benchmark rate to 10.5%: combating inflation the target

Brazil's central bank raised its benchmark interest rate on Wednesday to 10.50% from 10%, a larger-than-expected hike aimed at curbing inflation in spite of a weak economy. The decision by the bank's monetary policy committee, Copom, was unanimous.
Thursday, January 16th 2014 - 09:04 UTC
Open pit mining project in Uruguay questioned in Parliament and by environmentalists

A major open pit mining project in Uruguay to extract and export magnetite (a kind of iron ore) and which the government of President Jose Mujica plans to instrument this month has been exposed to a battery of criticism because the administration refuses to show the terms of the contract and farm groups argue there is no final environment impact assessment study.
Wednesday, January 15th 2014 - 19:29 UTC
GM will pay its first dividend since 2008; sales jump in China and United States

US carmaker General Motors (GM) said it will resume dividend payments, capping a remarkable turnaround since its 2009 bailout by the US government. It will pay a dividend of 30 cents per share, the first since July 2008.
Wednesday, January 15th 2014 - 19:24 UTC
Uruguay among the world's ten countries with highest inflation

Uruguay is ranked among the world's ten countries with the highest inflation, having climbed from position 15 to 10 last year, only surpassed in Latin America by Venezuela and Argentina. Last year Uruguay ended with an inflation of 8.52%, well above the 4% to 6% target, and according to Central bank officials “it remains the main challenge for the country's economic policy”.
Wednesday, January 15th 2014 - 18:50 UTC
Argentine annual inflation: 28.38%, according to the Congressional index

Argentine annual inflation for 2013 was 28.38% after soaring 3.38% in the month of December alone, according to the Congressional consumer price index, which is a survey that takes the average of several consultancy firms.
Wednesday, January 15th 2014 - 07:11 UTC
New EPA rule requires chemical disclosure for offshore fracking

$Governor Jerry Brown does not support a ban on fracking and insists the new law is rigorous.$

By. Nick Cunningham of Oilprice.com - The U.S. Environmental Protection Agency published a rule on January 9, 2014 requiring oil and gas companies using hydraulic fracturing off the coast of California to disclose the chemicals they discharge into the ocean. Oil and gas companies have been fracking offshore California for perhaps as long as two decades, but they largely flew under the radar until recently.
Wednesday, January 15th 2014 - 06:50 UTC
Argentine case of possible money laundering with mutilated US dollar bills

US federal agents who seized more than 4 million dollars in US banknotes shipped from a famous money exchange house in Buenos Aires, Alfredo Piano, uncovered what they claimed was a cache of dirty money. Piano, 82, said many of the 100 dollar-bills were filthy and others had been ravaged by fire, water and even dogs.