Economy

Friday, August 31st 2012 - 04:52 UTC
Cristina wants an Audiovisual Pole modelled on Hollywood in Buenos Aires waterfront

Argentina’s leader unveiled an ambitious plan Wednesday to support the country’s television and film creators with a new industrial park along the Buenos Aires waterfront that she hopes will be modelled on Hollywood’s studios.
Friday, August 31st 2012 - 04:46 UTC
Global food prices index soars 10% in July: World Bank sound the alarm

Global food prices soared by 10% in July from a month ago, with maize and soybean reaching all-time peaks due to an unprecedented summer of droughts and high temperatures in both the United States and Eastern Europe, according to the World Bank Group’s latest Food Price Watch report.
Friday, August 31st 2012 - 04:42 UTC
Soy reaches record price at 650 dollars the ton, and could keep climbing

Soy beans in Chicago climbed to their highest having advanced 0.4% on Thursday to 650.47 dollars the ton, while corn up 0.2% to 319.47 dollars the ton came closer to its record value of last August, 327.25 dollars. Wheat meantime slid 0.2% to 324.64 dollars the ton.
Friday, August 31st 2012 - 01:40 UTC
S&P places Paraguay with “stable outlook” and anticipates strong growth in 2013

Standard & Poor’s credit risk rating agency improved the prospects of Paraguay, removing the country from credit-watch where it had been placed with negative implications last June 25 when the political situation that removed Fernando Lugo as president and subsequent suspension of Paraguay from Mercosur.
Friday, August 31st 2012 - 01:20 UTC
China pledges support for Euro-zone; orders 50 planes from Europe Airbus

China has signed a deal to buy 50 planes worth 3.5bn dollars from Europe's Airbus. The agreement is part of a slew of trade deals signed by German Chancellor Angela Merkel at the start of a two-day visit to China.
Thursday, August 30th 2012 - 04:36 UTC
China and Germany, world’s exporting giants meet in Beijing to discuss Euro-crisis

German leader Angela Merkel is due to hold top-level talks Thursday on her second visit to China this year, with Europe's debt crisis taking centre stage as it begins to drag on the two global powers.
Thursday, August 30th 2012 - 04:32 UTC
Brazil cuts benchmark rate for ninth time running to an all time low of 7.5%

Brazil’s central bank cut the benchmark interest rate for the ninth straight time on Wednesday to an all-time low of 7.5%, as policymakers keep up efforts to bolster a slow-moving economy which is the world's sixth-largest.
Thursday, August 30th 2012 - 04:25 UTC
Venezuelan refinery ‘cooling down’; independent report points to serious lack of maintenance

Venezuela is carrying out an “exhaustive” inspection of its biggest refinery before attempting to restart processing after extinguishing a four-day fire yesterday caused by an explosion that killed 48 people and left hundreds homeless.
Thursday, August 30th 2012 - 04:20 UTC
Brazilian government launches a new round of stimuli to prop consumption

Brazil's government unveiled a host of new measures on Wednesday aimed at increasing investment and consumption as it expanded efforts to boost a sluggish recovery in the world's sixth-largest economy.
Thursday, August 30th 2012 - 04:05 UTC
Brazilians zest for beauty has turned the industry into the world’s third strongest

Since an estimated 40 million people have joined the middle class in the past decade in Brazil, now the world’s sixth-largest economy, the beauty industry is booming and has become the third in importance globally.