Economy

Saturday, January 18th 2014 - 05:55 UTC
Dairy values and meat peaked in 2013 according to FAO Food Price Index

The FAO Food Price Index averaged 206.7 points in December 2013, nearly unchanged from November, as a sharp increase in dairy prices and firming meat values largely balanced out a steep decline in sugar quotations and lower cereal and oil prices.
Saturday, January 18th 2014 - 05:50 UTC
Global cereal production in 2013 and outlook revised upward, says FAO

FAO’s latest forecast for world cereal production in 2013 has been revised upward marginally (2 million tons) since November to a new high of almost 2 500 million tons (including rice in milled terms), 8.4% more than last year and some 6% above the previous record in 2011.
Friday, January 17th 2014 - 08:05 UTC
US dollar keeps breaking records in Argentina; central banks reserves fall a further 100 million

The US dollar reached a new record high on Thursday as purchase pressure on the so called “blue” or informal market continues pushing the price which closed 35 cents up at 11.50 pesos for buyers and 11.55 pesos for sellers.
Friday, January 17th 2014 - 07:57 UTC
Falklands oil companies agree on tension leg platform for development of Sea Lion field

The Tension Leg Platform option is the most suitable technical and commercial solution for the development of the Falklands' Sea Lion field, according to the recommendation from field operator Premier Oil, said Rockhopper Exploration in an official release, which also announced further drilling is expected in the next twelve months.
Friday, January 17th 2014 - 07:29 UTC
US Congress supports budget peace for the rest of the fiscal year

Washington's battles over government funding ended with a whimper today as the US Senate approved a 1.1 trillion dollars spending bill that quells for nearly nine months the threat of another federal agency shutdown.
Friday, January 17th 2014 - 07:09 UTC
US Congress wants action on banks involved in the commodities business

United States lawmakers are pressing the Federal Reserve to act more forcefully, and quickly, to limit banks’ involvement in the commodities business, which has been blamed for inflating prices on everyday items like electricity and canned beverages.
Friday, January 17th 2014 - 07:00 UTC
Chile's main ports remain paralyzed amid clashes with police and suspended negotiations

Chile's main ports continued paralyzed as negotiations between striking workers and authorities are at an impasse and ugly skirmishes with police play out amid millions of cases of perishable export produce which are likely to spoil.
Thursday, January 16th 2014 - 09:34 UTC
Argentine central bank reserves fall below the 30bn dollars threshold

Argentine central bank international reserves continued to erode and on Wednesday pierced through the 30bn floor threshold reaching 29.858bn dollars, the lowest level since November 2006. On Tuesday reserves stood at 30.019bn.
Thursday, January 16th 2014 - 09:22 UTC
US dollar reaches new record in Argentina, 11.25 Pesos

The US dollar in Argentina continued to climb on Wednesday and reached new highs both in the official market and in parallel trading or the 'blue market'. The official rate closed at 6.75 Pesos to the greenback while the 'blue' reached a record 11.25 Pesos (selling price) with a 66.5% gap between both markets.
Thursday, January 16th 2014 - 09:17 UTC
Brazil raised the benchmark rate to 10.5%: combating inflation the target

Brazil's central bank raised its benchmark interest rate on Wednesday to 10.50% from 10%, a larger-than-expected hike aimed at curbing inflation in spite of a weak economy. The decision by the bank's monetary policy committee, Copom, was unanimous.