Economy

Thursday, April 17th 2014 - 08:15 UTC
Brazilian economy expanded at an annualized 1.63% in February

Brazil's economy grew at a 0.24% rate in February, compared to the previous month, the Central Bank said Wednesday. The Central Bank's Index of Economic Activity indicates that the economy grew 1.63% in February, compared to February 2013, while year-on-year growth was 2.41%, up from the 2.29% figure reported in the previous month.
Thursday, April 17th 2014 - 08:12 UTC
Brazil's chief banker forecasts inflation will come down in coming months

Food prices in Brazil have started to ease and should bring inflation down in coming months, central bank chief Alexandre Tombini said on Wednesday, reinforcing views that policymakers are ready to wrap up their year-long campaign of rate hikes. He reiterated that a significant part of the impact of past rate increases on inflation has yet to be felt.
Thursday, April 17th 2014 - 07:47 UTC
Yuan is 'significantly undervalued' US Treasury tells China

United States has told China its currency must be allowed to rise if it and the global economy are to see stable growth. The US Treasury's twice-yearly report to policymakers says the Yuan is “significantly undervalued”.
Thursday, April 17th 2014 - 04:58 UTC
China's economy expands 7.4% in first quarter and retail sales in March 12.2%

China's economy expanded by 7.4% in the first quarter of the year, better than what many were expecting, but it is a slowdown from 7.7% growth in the final quarter of last year. Other data released with the gross domestic product (GDP) figure showed industrial output rising 8.8% in March from one year ago.
Thursday, April 17th 2014 - 04:53 UTC
For third consecutive month UK inflation stands below the 2% target rate

The UK inflation rate as measured by the Consumer Prices Index (CPI) fell to 1.6% in March from 1.7% in February, according to the Office for National Statistics (ONS). It is the third consecutive month inflation has been below the Bank of England's 2% target rate, and the lowest rate since October 2009.
Thursday, April 17th 2014 - 04:44 UTC
Chilean plan to rebuild Valparaíso but people already returning to their rubble plots

Chilean President Michelle Bachelet vowed to reconstruct Valparaíso, utilizing a new plan that would prevent many of the 11,000 victims of devastating wildfires from rebuilding on hills that cannot be protected from disasters. But she faces a battle to convince evacuees to relocate, with many wishing to return to what remains of their previous homes.
Wednesday, April 16th 2014 - 10:01 UTC
Ukraine falling to economic warfare and its own missteps

As protests in Ukraine's eastern region turned violent on Sunday leading to the death of a Ukrainian security officer in a shootout with pro-Russian militia, Kiev threatens military action while Moscow flexes its geo-economic warfare muscles.
Wednesday, April 16th 2014 - 04:54 UTC
Dollar stabilizing in Argentina; central bank purchases 350 million

Argentina's central bank purchased 390 million dollars, one of the largest operations in years, as part of its policy to keep the price of the greenback in the local market stabilized after months of distortions and a run on the bank's international reserves that dropped to a new low in the last twelve months.
Wednesday, April 16th 2014 - 04:44 UTC
Mercosur proposal to present the EU expected to be ready by end of April

Argentine cabinet chief Jorge Capitanich confirmed on Tuesday 'significant advances' in the elaboration of Mercosur's joint proposal to exchange with the European Union for discussions on a much delayed wide ranging cooperation and trade agreement.
Wednesday, April 16th 2014 - 04:42 UTC
Nissan opens new complex in Brazil to turn out 200.000 cars and engines

Japan Nissan's top executives travelled to Resende, Rio do Janeiro state on Tuesday to inaugurate a complex designed to turn out 200,000 vehicles and engines per year with the goal of capturing 5% of Brazil's new car market by 2016.