Economy

Saturday, June 7th 2008 - 21:00 UTC
Chile forecasts copper 450.000 tons surplus in 2009

The Chilean Copper Commission (COCHILCO) predicted this week a 450,000 ton surplus in the global copper production for the year 2009. Global supplies are expected to increase by 7.9% between now and then due to increased production.
Saturday, June 7th 2008 - 21:00 UTC
Japanese banks feels the fallout from US subprime crisis

Japanese banks are feeling the fallout from the US subprime mortgage crisis and the credit crunch, according to the country's financial watchdog.
Saturday, June 7th 2008 - 21:00 UTC
Home foreclosures in the US set new record in first quarter of 08

United States home foreclosures and late payments set records over the first three months of the year and are expected to keep rising, stark signs of the housing crisis' mounting damage to homeowners and the US economy.
Friday, June 6th 2008 - 21:00 UTC
US unemployment rate picks up speed: 5.5% in May

The United States unemployment rate rose at its fastest pace in more than two decades in May, stoking fears of recession in the world's biggest economy. The surprise jump in May's jobless rate to 5.5% from 5% is the most recent signal yet that US growth is stalling.
Friday, June 6th 2008 - 21:00 UTC
“Many airlines will not survive” oil crisis warns IATA

The leaders of the world's airlines unanimously agreed to a resolution calling for governments, airports and labour to take immediate action to help the industry survive the growing financial crisis.
Friday, June 6th 2008 - 21:00 UTC
Embraer sells Super Tucano to US defense service company

Brazilian aircraft manufacturer Embraer confirmed on Friday it had sold a propeller-driven fighter plane to a unit of Blackwater Worldwide, the world's largest private defense services company, and said it would not be used for operations in Iraq.
Friday, June 6th 2008 - 21:00 UTC
Argentina's growth rate lowered to 5,5% and 2% in 08 and 09

London based Barclays Capital lowered its 2008 and 2009 growth forecast for Argentina following on increasing concerns about accelerating inflation, striking farmers blocking exports and slowing investment.
Thursday, June 5th 2008 - 21:00 UTC
Argentina has largest wine production in Southern hemisphere

Argentina will have a record production of wine for the Southern hemisphere in 2008, totaling 15.25 million hectoliters, compared to the 15.046 of last year according to the latest report from the Paris seated International Organization of Vines and Wine, OIV.
Thursday, June 5th 2008 - 21:00 UTC
US dollar dips in Chile but “should rebound” to 500 pesos

The US dollar in the Chilean money market fell back to 480 pesos on Thursday after having reached 490 on Wednesday following on several days of gradual recovery.
Thursday, June 5th 2008 - 21:00 UTC
Euro interest rates unchanged;increase “possible” next time

The European Central Bank (ECB) left interest rates for the Euro zone unchanged at 4% but admitted an increase was “possible” at its next meeting because risks to price stability over the medium term have further increased.