Economy

Thursday, January 11th 2007 - 20:00 UTC
Oil plunges to its lowest level price since May 2005

Oil plunged Thursday to its lowest level price since May 2005, below 52 US dollars a barrel, following the continued steep rise in heating oil stocks in United States and a resumption of crude pumping top Europe by Russia.
Wednesday, January 10th 2007 - 20:00 UTC
Venezuela's nationalization plans spook markets and investors

Investors scared by President Hugo Chavez's nationalization plans rushed to sell off Venezuelan stocks Tuesday, while U.S. officials and financial analysts warned that increasing government control in the power, telecom and oil sectors is a mistake.
Wednesday, January 10th 2007 - 20:00 UTC
Chile stamps definitive 33% tariff on Argentine wheat flour

Chile decided on Tuesday to increase to 33%, and during three months, safeguard tariffs on Argentina wheat flour, reported in Santiago the Minister of Agriculture Alvaro Rojas.
Wednesday, January 10th 2007 - 20:00 UTC
China's trade soaring: 969 billion exports last year

China's trade surplus in 2006 reached a mind bogging 177.5 billion US dollars compared to 102 billion in 2005, reported Wednesday the Chinese news agency Xinhua.
Wednesday, January 10th 2007 - 20:00 UTC
Chile's largest meat producer caught selling rotten goods

Agrosuper, Chile's largest meat producer could face serious fines or a shutdown of its factories by health authorities after workers of its Huechuraba plant denounced the sale of decomposing meat.
Wednesday, January 10th 2007 - 20:00 UTC
Brazil manufactures record number of automobiles

Brazil manufactured a record number of automobiles last year, 2.61 million, up 3.1% over 2005, according to a release Wednesday in Sao Paulo from the Association of Automobile manufacturers, Anfavea.
Wednesday, January 10th 2007 - 20:00 UTC
Car sales in Chile soaring and clogging Santiago

A record 711.000 cars were sold in Chile's Metropolitan Region in 2006, up 7.6% more vehicles than last year.
Tuesday, January 9th 2007 - 20:00 UTC
Argentine reserves yield a record of nearly 1.4 billion dollars in 2006

Argentina's Central Bank in 2006 obtained nearly 1.4 billion dollars out of investing its foreign currency reserves at a yearly yield of 5.7 percent ÃÂ¢€“ the highest since a crippling five-year recession ended in 2002 ÃÂ¢€” and close to the 1.47 billion dollars the country reportedly spent last year in subsidies to keep inflation under two digits.
Tuesday, January 9th 2007 - 20:00 UTC
Chavez announces nationalization of oil and telecoms

President Hugo Chavez announced plans on Monday to nationalize Venezuela's electrical and telecommunications companies, pledging to create a socialist state in the spirit of the Bolivarian revolution.
Monday, January 8th 2007 - 20:00 UTC
Mercosur members growingly less intra trade dependent

Evolution of trade among Mercosur members in the last few years shows unexpected surpluses for Brazil and a lesser dependency on the group's intra trade than in the nineties, according to recent data from ALADI, Latinamerican Integration Association.