Economy

• Friday, November 9th 2012 - 06:30 UTC

  Draghi confirms economic activity in Euro is “expected to remains weak”

  

  The European Central Bank (ECB) has held the benchmark Euro zone interest rate at the record low of 0.75%, as had been expected. The rate has been at this level for four months, after July's cut from 1%.

• Friday, November 9th 2012 - 06:27 UTC

  FAO October Price Index: cereals and oils down; increases in dairy and sugar

  

  The FAO Food Price Index fell 1% in October 2012, and for the first ten months of the year food prices were on average 8% lower than in the same period in 2011. The Index dipped two points to 213 points from September's revised level of 215 points. The decline was largely due to lower international prices of cereals and oils and fats, which more than offset increases in dairy and sugar prices.

• Friday, November 9th 2012 - 06:15 UTC

  Bank of England leaves further stimuli and rate on hold

  

  The Bank of England has decided not to extend its quantitative easing (QE) stimulus program, which has injected £375bn into the UK financial system. Under QE, the Bank creates money and uses it to buy government bonds to try to stimulate the economy.

• Thursday, November 8th 2012 - 07:08 UTC

  Brazil says inflation in October peaked and should begin to ease

  

  Brazilian Finance Minister Guido Mantega said on Wednesday that inflation has peaked and indicators are pointing to a retreat to a lower level. Consumer prices rose in October at their fastest pace since April due to higher food prices, government data showed, though a measure of wholesale costs suggested relief should arrive in coming months

• Thursday, November 8th 2012 - 01:53 UTC

  Brazil expands investmetns and builds closer economic ties in Africa

  

  Brazilian companies are moving into Africa amid a government drive to build closer economic ties with the continent. A year ago Vale, the Brazilian mining giant, exported its first overseas coal shipment from Mozambique.

• Thursday, November 8th 2012 - 01:49 UTC

  Wall Street and rating agencies not pleased with the US elections results

  

  No break for re-elected President Barack Obama. In the midst of what should be a honeymoon victory Fitch Ratings agency called on the newly appointed head of state to quickly “secure agreement on avoiding the 'fiscal cliff' and raising the debt ceiling,” to retain its “AAA” status.

• Wednesday, November 7th 2012 - 22:52 UTC

  Global meat production reached 297 million tons last year, up 0.8% over 2010

  

  Global meat production rose to 297 million tons in 2011, an increase of 0.8% over 2010 levels, and is projected to reach 302 million tons by the end of 2012, according to new research conducted by the Worldwatch Institute.

• Wednesday, November 7th 2012 - 22:42 UTC

  India becomes main world beef exporter in 2012, and probably 2013

  

  While the mantle of the world largest beef exporting nation has traditionally been a three-way race between Australia, Brazil and the US, 2012 has seen India race ahead of the pack, with expectations for Indian beef exports to grow again in 2013.

• Wednesday, November 7th 2012 - 22:29 UTC

  Falklands’ experience helps revolutionize oil and gas industry technology

  

  Working on experience gained from the relocation of thousands of tons of equipment from Aberdeen to the Falkland Islands for the round of exploratory drilling started in 2010 has helped a Scottish company launch a software program set to revolutionize the oil and gas industry.

• Wednesday, November 7th 2012 - 22:22 UTC

  “Crystal Serenity” licensed to operate a casino while in Chilean waters

  

  “Crystal Serenity” became the first cruise vessel licensed to operate and exploit casinos in Chilean waters, reported this week the country’s Casino Games Commission, SCJ. However the ruling also points out that the company authorized to operate the on board casinos must suspend gambling during docking and departure and while sailing inside the three miles.