Economy

• Monday, June 10th 2013 - 20:41 UTC

  Argentina celebrates: China accepts three GM types of soybean for consumption

  

  China approved three genetically modified soybean types for consumption, including the RR2BT seed resistant to the imidazolinonas and the glufosinat-ammonium herbicides. The announcement was made following a meeting between Agriculture ministers from Argentina and China in Beijing.

• Monday, June 10th 2013 - 19:44 UTC

  S&P upgrades US credit outlook to ‘stable’; government debt 84% of GDP

  

  Credit rating agency Standard & Poor's On Monday upgraded its credit outlook for the United States government to “stable” from “negative,” saying the chances of a downgrade of the country's rating is “less than one in three.”

• Monday, June 10th 2013 - 14:02 UTC

  Paraguay soy exports reach 1.55bn dollars in first five months of 2013

  

  Soybeans, electricity and beef figure as the main export items of landlocked Paraguay, during the first five months of the year. According to a release from the Ministry of Industry and Trade, exports at the end of May reached 4,12bn dollars compared to 2.96bn a year ago, which represents a 57.3% increase.

• Monday, June 10th 2013 - 12:46 UTC

  Brazil world’s top orange juice exporter conditioned by rising labour costs

  

  High production costs have orange growers in Brazil, the world's top orange juice exporter, bracing for a tough citrus season, despite last season's record harvest and high juice prices.

• Saturday, June 8th 2013 - 06:25 UTC

  Venezuelan 12 month inflation reaches 35.2%; prospects of food rationing

  

  With inflation in May reaching 6.1%, the highest monthly rate in 17 years, mostly because of the shortage of basic foods, some states in Venezuela are already planning food rationing fearing the situation could worsen. The Venezuela's Central Bank released the figure on Friday.

• Friday, June 7th 2013 - 23:45 UTC

  Brazil’s inflation still at 6.5% upper; Central bank determined to contain prices

  

  Consumer prices edged up 0.3% in Brazil last month, fuelled by higher medicine, clothing and housing prices, with 12-month inflation at 6.5%, the state statistics agency said on Friday. The May increase, in line with market analysts' forecasts, was lower than the 0.5% recorded in April and the lowest since June 2012.

• Friday, June 7th 2013 - 08:03 UTC

  Mexico and China leave behind mistrust and agree on strategic partnership

  

  Leaving behind an atmosphere of mistrust, China and Mexico agreed this week to upgrade bilateral ties to comprehensive strategic partnership, and thus opening broad prospects for economic and trade cooperation between the two countries.

• Friday, June 7th 2013 - 07:52 UTC

  Following the scandal, Libor to come under supervision of EU Paris-based regulator

  

  European authorities are to propose bringing control of the inter-bank lending rate, Libor, under the supervision of a Paris-based regulator. The draft regulation proposes moving oversight of the scandal-hit benchmark from London to the European Securities and Markets Authority (ESMA).

• Friday, June 7th 2013 - 05:43 UTC

  S&P cuts Brazil credit rating outlook to negative because of sluggish growth

  

  Brazil’s credit rating outlook was cut to negative by Standard & Poor’s saying sluggish economic growth and an expansionary fiscal policy could lead to higher government debt levels. Reacting to the announcement a spokesperson from the Finance ministry said “there is no change in economic policy and the environment is conducive to investment”.

• Friday, June 7th 2013 - 05:40 UTC

  Uruguay tightens terms for the inflow of short-term capital inflows

  

  Uruguay announced on Thursday new measures to discourage short term speculative capital inflows that have appreciated the Peso, eroded the country’s international competitiveness, made imports cheaper than domestic production and threaten an already stubborn inflation.