Economy

• Wednesday, February 16th 2011 - 22:34 UTC

  Trichet blames Euro-zone inflation spike on emerging economies rapid recovery

  

  The European Central Bank is not surrendering its price stability objective for crisis management policy, the bank's President Jean-Claude Trichet said. He also argued that the recent spike in Euro zone inflation is due to the current rapid economic recovery in emerging markets and not due to the currency bloc's sovereign debt crisis.

• Wednesday, February 16th 2011 - 22:30 UTC

  World’s largest mining company fearful of espionage from China and competitors

  

  Anglo Australian mining giant BHP Billiton chief executive Marius Kloppers confirmed reports that he is fearful of espionage from China, competitors like Rio Tinto and the Australian government, saying it is one reason why he lobbied furiously for short-term pricing of key commodities.

• Wednesday, February 16th 2011 - 17:17 UTC

  Uruguayan goods exports mainly commodities; only 2% with high tech input

  

  An overwhelming volume of Uruguayan exports of goods in 2010, --84%-- were commodities and natural resources with some degree of manufacturing but low technological input according to the latest report from the Chamber of Industries.

• Wednesday, February 16th 2011 - 13:50 UTC

  Up to 10% of rice sold in Chinese markets tainted with heavy metals

  

  Recent research has concluded that 10% of the rice sold in China’s markets is likely to be tainted with heavy metals, but agricultural experts said the pollution is confined to particular regions and there is no call for panic.

• Wednesday, February 16th 2011 - 01:17 UTC

  More Argentine measures “to preserve re-industrialization process”

  

  Argentina extended the application of LNA non-automatic licenses to a list of new imported products, which include metallurgical products, electronics, some fabrics, high-range automobiles, bicycles and bicycle parts.

• Wednesday, February 16th 2011 - 01:12 UTC

  Deutsche Bourse and NYSE Euronext become world’s largest exchange operator

  

  Deutsche Boerse and NYSE Euronext announced Tuesday the creation of the world's largest exchange operator. A key compromise is an agreement to headquarter the combined group in both New York and Frankfurt.

• Wednesday, February 16th 2011 - 00:37 UTC

  French conservatives attack IMF Strauss-Khan who is eyeing Sarkozy’s post

  

  France's economy minister Tuesday urged IMF chief Dominique Strauss-Kahn to stay at the global lender, as French conservatives sought to impede his potential bid for the French presidency next year.

• Wednesday, February 16th 2011 - 00:35 UTC

  Coca Cola says its recipe remains secret and intact after 125 years

  

  The Coca Cola Company said on Tuesday that its flagship cola recipe is still secret after nearly 125 years, denying a story by a US public radio show that it has uncovered the formula.

• Wednesday, February 16th 2011 - 00:32 UTC

  World Bank food prices index jumps 15% in four months, just below 2008 record

  

  Rising food prices have driven an estimated 44 million people into poverty in developing countries since last June as food costs continue to rise to near 2008 levels, according to new World Bank Group numbers released ahead of the G20 Meeting of Finance Ministers and Central Bank Governors in Paris.

• Wednesday, February 16th 2011 - 00:30 UTC

  IMF calls for Yuan and SDRs to play greater role in global finance

  

  IMF chief Dominique Strauss-Kahn said the currencies of China and other emerging economies such as Brazil should play a greater role in global finance, as part of a bid to promote monetary stability