Economy

• Thursday, August 9th 2012 - 06:08 UTC

  New Zealand launches program for high quality marbled beef off grass

  

  The New Zealand government announced last week it will be supporting a program to produce high-quality marbled beef off grass, by combining specific high-marbling genetics with the country’s strengths in pastoral agriculture, according to Joe Burke from the Meat Division of Bord Bia-Irish Food Board.

• Wednesday, August 8th 2012 - 19:41 UTC

  In carefully worded statement British bank rejects money laundering claims by US regulator

  

  As British bank denies accusations it hid 250 billion dollars in transactions with Iranian banks, its share price falls sharply. Standard Chartered has rejected a US regulator's claim that it hid 250 billion dollars in transactions with Iranian banks in violation of US sanctions.

• Wednesday, August 8th 2012 - 18:46 UTC

  Organized pickets in Andalusia raid supermarkets for food to distribute among the needy

  

  Pickets of unemployed and union members in the south of Spain took over supermarkets and took food produce which they then delivered to social organizations and needy families to protest and warn of the consequences of the tough measures implemented by the government.

• Wednesday, August 8th 2012 - 18:28 UTC

  Continental animal virus reached UK and spreads throughout the country

  

  The Schmallenberg virus reached the UK this summer and could spread throughout the country, scientists say. Staff from the Royal Veterinary College (RVC) and Institute for Animal Health (IAH) found the virus in animals on the RVC farm in Hertfordshire in June.

• Wednesday, August 8th 2012 - 18:16 UTC

  Panama Canal unveils new tolls structure and increases some categories

  

  Following the recommendation from the Board of Directors of the Panama Canal Authority (ACP), the Panamanian government approved this week the proposal to restructure the Panama Canal's pricing system.

• Wednesday, August 8th 2012 - 06:47 UTC

  Poll shows deeper interest rates cuts expected from the Brazilian central bank

  

  Weak economic growth will likely prompt Brazil's central bank to cut interest rates deeper than previously expected this year, a weekly central bank survey of economists showed on Monday.

• Tuesday, August 7th 2012 - 20:14 UTC

  Mercosur has only benefited Brazil in the last ten years with a surplus of 36.8bn

  

  Brazil is the only country that in the last ten years has benefited from Mercosur with an intra-zone trade surplus of 36.8 billion dollars while the other three full members, Argentina, Uruguay and Paraguay have accumulated huge deficits in the same period, according to Argentine economist Orlando Ferreres a regular columnist from La Nacion with graduate studies in Harvard.

• Tuesday, August 7th 2012 - 17:26 UTC

  Rice supply outstrips demand despite lower 2012 production according to FAO

  

  The United Nations’ food agency cut its 2012 global rice production forecast but said supply would still outstrip demand and that there was no increased risk of a food crisis as long as countries do not resort to export bans.

• Tuesday, August 7th 2012 - 17:13 UTC

  Argentine supermarkets must keep records of clients that spend plus 210 dollars

  

  Argentine supermarkets must keep records of sales of plus 1.000 Pesos which must be available to tax inspectors, according to the latest decision from AFIP the tax revenue office. A thousand Pesos at the official rate is equivalent to 210 dollars and in the parallel 140 dollars.

• Tuesday, August 7th 2012 - 17:06 UTC

  Argentine foreign currency credit cards included in the strict dollar “clamp”

  

  Credit card companies operating in Argentina have also fallen under the net work of the tax office AFIP, and now must request authorization and approval to purchase US dollars to balance their clients’ accounts.