Economy

Friday, November 20th 2009 - 02:11 UTC
OECD warns UK jobless could reach 9.5% by 2011

United Kingdom’s jobless rate could soar to 9.5% in two years' time, even after the economy begins to recover, a leading economic body has warned.
Thursday, November 19th 2009 - 13:23 UTC
Brazil/Argentina agree trade differences should not influence political relation

Brazil and Argentina ended Wednesday in Brasilia a full day of talks at presidential level without reaching a clear agreement on trade disputes that have caused disruptions to the bilateral relation.
Thursday, November 19th 2009 - 13:20 UTC
Brazil unveils tax on ADR to help contain appreciation of the Real

Brazil took another step on Wednesday aimed at containing the appreciation of its currency, unveiling a 1.5% tax on certain trades involving American Depository Receipts, ADR, issued by Brazilian companies. Finance minister Guido Mantega said the tax will be charged when foreign investors convert ADRs for Brazilian companies into receipts for shares issued locally.
Thursday, November 19th 2009 - 13:18 UTC
Argentine Senate reopens debt restructuring process for bond holdouts

Argentina’s Senate passed a bill on Wednesday with a significant majority to reopen the country's 2005 debt restructuring. The administration of President Cristina Fernandez de Kirchner hopes it will help it settle a dispute with holders of an estimated 20 billion US dollars in defaulted bonds.
Thursday, November 19th 2009 - 06:38 UTC
Brazilian economy overcomes recession and expands at “Chinese rates”

Brazilian president Lula da Silva stated that Latinamerica’s largest economy not only has left the global crisis behind, but also in the third quarter has expanded at a “Chinese rate”, close to 9%.
Wednesday, November 18th 2009 - 09:30 UTC
Venezuelan economy forecasted to contract strongly in 2009

Venezuela's economy contracted 4.5% in the third quarter, far more than expected, and the second straight quarterly contraction this year after a drop in oil income affected public and consumer spending, the Central Bank said Tuesday.
Wednesday, November 18th 2009 - 04:10 UTC
Argentine fruit exports to Brazil loosing 300.000 USD per day

Argentine exporters claim they are loosing huge sums of money because of Brazilian delays at Customs posts and in extending import licences. This is particularly sensitive for fruit and other perishable exporters.
Wednesday, November 18th 2009 - 03:44 UTC
Cristina and Lula da Silva meet to address bilateral trade conflict

Argentina and Brazil presidents are scheduled to address trade disputes, Mercosur and other coming foreign policy issues when they meet Wednesday in Brasilia for their agreed regular contacts.
Wednesday, November 18th 2009 - 02:38 UTC
Chile and Uruguay, least corrupt in Latam and an inspiration for the region

Chile, Uruguay and Costa Rica have the lowest perceived levels of corruption in Latinamerica, a benchmark and inspiration for the Americas according to the latest report from Transparency International. Argentina and Venezuela are among the low performers in a region where there are serious indications of “rampant corruption”.
Tuesday, November 17th 2009 - 12:48 UTC
The Chilean currency at its highest in 16 months: 496 to the US dollar

The Chilean peso rose to its strongest level against the US dollar in 16 months after copper prices and global stocks rallied. The peso climbed 1.1% to 496.6 per dollar during trading and touched 494.15, the strongest since July 2008.