Economy

Thursday, June 10th 2010 - 06:07 UTC
Brazil expects 145.8 million tons crop in 2010; soybeans area up 7.2%

Brazil's crop will reach 145.8 million tons in 2010, up 8.8% from 2009, according to a May projection released on Tuesday by the Brazilian Institute of Geography and Statistics (IBGE). The projection is 0.5% lower than April’s, released in May.
Wednesday, June 9th 2010 - 19:33 UTC
Top IMF official warns Asia to prepare for European developments’ consequences

Risks to the global economic outlook have “risen significantly” and policy makers have limited room to provide support to growth warned International Monetary Fund Deputy Managing Director Naoyuki Shinohara during a conference Wednesday in Singapore.
Wednesday, June 9th 2010 - 06:10 UTC
US dollar breaks through the 4 pesos barrier in Buenos Aires informal market

The new foreign currency controls that begun to be applied this week in Argentina had a marginal incidence in formal operations Tuesday, but in the parallel informal market the US dollar, under strong demand shot past the 4 Pesos milestone.
Wednesday, June 9th 2010 - 06:06 UTC
China concerned with global impact of EU sovereign debt crisis

China's central bank reiterated on Tuesday it would continue to implement the relatively easy monetary policy according to changing situations in a bid to facilitate the ongoing development transformation model, as well as reinforce the country's sound and relatively fast economic growth.
Wednesday, June 9th 2010 - 01:29 UTC
Brazil GDP expands at ‘Chinese pace’9%; rates increase forecasted

Brazil’s economy grew at its fastest annual rate since 1995 in the first quarter anticipating expectations that the central bank will raise interest rates 0.75 percentage point Wednesday to prevent overheating.
Wednesday, June 9th 2010 - 00:00 UTC
LAN Chile and affiliates passenger and cargo traffic soars in May

LAN Chile Airlines and subsidiaries, (NYSE: LFL / IPSA: LAN), one of the leading airlines in Latin America, reported on Monday its preliminary monthly traffic statistics and punctuality indicators for May 2010.
Tuesday, June 8th 2010 - 23:46 UTC
US Fed Reserve in no hurry to raise benchmark interest rates

United States Federal Reserve Bank of Chicago President Charles Evans reiterated on Tuesday that now is not the right time for the US central bank to raise benchmark interest rates. He also said the US unemployment rate will decline slowly after the “disappointing” May jobs report.
Tuesday, June 8th 2010 - 11:26 UTC
Pound falls as Fitch warns of UK's ‘formidable’ debt challenge

The pound fell in late morning deals after credit ratings agency Fitch warned the debt challenge facing the UK government was 'formidable', and that cuts would have to be deeper and quicker than former chancellor Alistair Darling had planned.
Tuesday, June 8th 2010 - 05:47 UTC
Germany and UK deciding drastic budget cuts; fears in the rest of Europe

German Chancellor Angela Merkel is holding a special, two-day cabinet meeting to come up with a savings plan for the country's budget. Berlin wants to rein in its deficit to meet European Union rules, as a sovereign-debt crisis has hit markets and the Euro in the past few months.
Tuesday, June 8th 2010 - 05:39 UTC
Argentina imposes strict rules on foreign-exchange trading

Argentina tightened foreign-exchange rules Monday in a step it says is aimed at limiting money laundering and tax evasion, but which most observers say it is geared to restrict the flow of dollars.