Economy

• Wednesday, August 7th 2013 - 14:12 UTC

  Venezuela inflation in July 3.2% and 42.6% in the last twelve months

  

  Venezuela consumer prices last month rose at the fastest pace since the index was created in 2008 amid worsening shortages of staple goods such as meat, sugar and milk. Prices rose 42.6% in July from a year earlier and 3.2% in the month, the central bank said in an e-mailed statement on Tuesday.

• Wednesday, August 7th 2013 - 03:04 UTC

  Chile investment in mining expected to reach 112 billion in eight years

  

  Chile expects mining investment to reach 112 billion US dollars by 2021, Mining Minister Hernan de Solminihac announced this week. This includes the 27bn planned by Chile’s National Copper Corporation, Codelco. Overall the sum is 8% higher than the November forecast.

• Wednesday, August 7th 2013 - 02:47 UTC

  Brazil car production slips but export forecast rises as world demand picks up

  

  Car production in Brazil slipped in July to the lowest daily rate in five months as factories, facing sagging consumer confidence scaled back output industry data showed on Tuesday.

• Wednesday, August 7th 2013 - 02:39 UTC

  Uruguay floats 2bn dollars in bonds to help spread debt payment

  

  Uruguay priced 2 billion dollars in 10-year benchmark sovereign bond on Tuesday at a spread of 187.5 basis points over US Treasuries as part of the government's bid to improve its debt profile, according to reports from Thomson Reuter’s unit IFR. The bond priced at 99.833 with a 4.5% coupon and 4.521% yield, according to IFR.

• Wednesday, August 7th 2013 - 02:30 UTC

  China approves first shipment of Argentine GMO corn shaking world markets

  

  China has approved its first shipment of genetically modified Argentine corn, Buenos Aires-based trade sources said, which could mean that the Asian giant may eventually import GMO crops from other producers like the United States.

• Tuesday, August 6th 2013 - 03:05 UTC

  Inflation in Uruguay remains ever so far from the Central bank annual target

  

  Consumer prices in Uruguay during July increased 0.77% while twelve-month inflation reached 8.75%, which is the highest since last February, and well ahead of the 8.21% to June, according to the latest release from the country’s National Stats Institute, INE.

• Tuesday, August 6th 2013 - 03:01 UTC

  General Motors ahead of Toyota and Volkswagen in the global car industry

  

  General Motors outsold Toyota for the first time in six quarters, rising atop the industry and underscoring the resurgence of US automakers.

• Monday, August 5th 2013 - 19:51 UTC

  Brazilian farmers blast Mercosur for its ‘bad leadership and worse presidents’

  

  Mercosur has become characterized for “bad leadership and worse presidents” of the countries that make up the block, since there is no incentive for the regional organization and it has become “an ideological battle political field”, said Cesario Ramalho da Silva, president of the Brazilian Rural Society.

• Monday, August 5th 2013 - 18:32 UTC

  Amazon.com CEO buys The Washington Post for 250 million dollars

  

  Amazon.com Chief Executive Officer Jeff Bezos agreed to buy The Washington Post for 250 million dollars, vaulting the e-commerce magnate into the struggling newspaper industry. Bezos is making the deal as an individual and not as part of Amazon, the world’s biggest online retailer, according to a statement on Monday.

• Monday, August 5th 2013 - 02:11 UTC

  Argentine economy conditioned by energy imports and subsidized fuels and power

  

  If the Argentine government does not manage to stabilize its energy balance, which is one of the main drains of US dollars, the ban on hard currency purchases, the barriers to imports and the growing obstacles to spend money overseas for Argentine travellers will continue and could worsen, according to Buenos Aires analysts.