Economy

Wednesday, August 7th 2013 - 17:49 UTC
Brazil’s Dilma celebrates decline in food prices reflected in ‘contained’ inflation

The first decline in food prices in two years provided temporary assistance to Brazilian President Dilma Rousseff’s efforts to tame inflation. Prices as measured by the benchmark IPCA index rose 0.03% in July and more encouraging with prospects for prices to remain unchanged.
Wednesday, August 7th 2013 - 17:45 UTC
Brazil farmers ask until when will ideology prevail over economics and trade in Mercosur

“Until when will we allow ideology to prevail over economics, markets, competitiveness grounding the great vessel of Brazilian trade in the port of little regional pretensions”, asks Katia Abreu in a column published in Folha de Sao Paulo openly criticizing the administration of Dilma Rousseff for its Mercosur policy and the results of the recent Montevideo summit.
Wednesday, August 7th 2013 - 16:46 UTC
US government lawsuits against Bank of America related to mortgage-backed securities fraud

US government filed two lawsuits against Bank of America relating to fraud on 850 million dollars of mortgage-backed securities. The Justice Department and the Securities and Exchange Commission filed parallel suits in North Carolina.
Wednesday, August 7th 2013 - 14:17 UTC
Mujica says Mercosur members must have more negotiating space with third parties

Uruguayan president Jose Mujica said that Mercosur should give its members more space to negotiate with third parties and supported linking to the Alliance of the Pacific, which nevertheless he argued is “part of a geopolitical involving China” and not accepted by Brazil.
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.