Economy

• Saturday, January 12th 2013 - 17:53 UTC

  Methanex Canada to idle plant in Punta Arenas because of insufficient gas provision

  

  Chilean Energy minister Jorge Bunster regretted on Friday Methanex Canada announcement on its decision to idle operations in Chile in March due to lack of adequate natural gas supply. The company stated that it does not have sufficient feedstock to keep the plant in operation given the natural gas supply challenges.

• Saturday, January 12th 2013 - 12:32 UTC

  Eleven million Argentines surviving on 7 dollars per day, according to Indec

  

  Three Argentines out of ten living in urban areas, an estimated 11.1 million people must survive with less that 35.5 Pesos per day or 1.067 Pesos monthly, according to data from the latest Standing homes’ survey, performed by the country’s stats office Indec.

• Saturday, January 12th 2013 - 12:13 UTC

  More signs that the UK economy contracted in the last quarter of 2012

  

  Disappointing figures on industrial production and construction in November have added to fears that the UK economy contracted in the last quarter of 2012. The index of production grew 0.3% in November, compared with October, but had been expected to grow more as some North Sea oil and gas production resumed following maintenance.

• Saturday, January 12th 2013 - 11:57 UTC

  Inflation under control says Brazil, but investors not entirety convinced

  

  Brazilian consumer prices ended 2012 near the top of the central bank's target range for the third year running, prompting concern from economists that the country is stuck in a phase of low growth and high inflation.

• Friday, January 11th 2013 - 08:36 UTC

  Argentine tourists must pay 8 pesos for the US dollar in neighbouring countries

  

  Following on the climbing tendency since the beginning of the year, the ‘blue’ or ‘parallel’ US dollar traded in Buenos Aires at 7.25 Argentine Pesos with a 46% gap over the ‘official’ dollar that remained relatively stable at 4.95 Pesos.

• Friday, January 11th 2013 - 08:32 UTC

  An optimistic Dragui sees a “positive contagion” in the Euro zone economy

  

  European Central Bank (ECB) president Mario Draghi spoke on Thursday of a “positive contagion” in the Euro zone economy, saying that the financial situation is improving and growth is set to return in the second half of the year.

• Friday, January 11th 2013 - 08:25 UTC

  Obama nominates budget expert to replace Geithner as Treasury Secretary

  

  US President Barack Obama on Thursday nominated his chief of staff, Jack Lew, as the next Treasury secretary, praising him as a expert on the pressing national issues of spending cuts and deficit reduction.

• Friday, January 11th 2013 - 08:21 UTC

  Bank of England keeps monetary policy unchanged waiting for GDP figures

  

  The Bank of England on Thursday decided not to extend its quantitative easing (QE) stimulus program, which has injected £375bn into the UK financial system. It is also keeping its key interest rate unchanged at 0.5%, where it has been since March 2009.

• Thursday, January 10th 2013 - 18:56 UTC

  FAO food price index finished the turbulent 2012 down 7% compared to 2011

  

  The United Nations reported on Thursday that food prices fell for the third month in a row in December last year, balancing out sharp increases registered earlier in 2012, which had previously sparked fears of a food crisis.

• Thursday, January 10th 2013 - 03:54 UTC

  Brazilian corporations fearful of Venezuelan situation despite Brasilia support for Maduro

  

  Brazilian corporations with strong interests in Venezuela have expressed concern about the future of the country and its impact on Mercosur if the political transition, because of President Hugo Chavez health condition, does not follow the constitutional process