Economy

Thursday, July 19th 2012 - 18:17 UTC
US worst drought since 1956 sends soybeans and corn skyrocketing

The commodities soy and corn’s prizes sky rocked on Thursday thanks to the severe drought that has been punishing the United States heartland. Soy and corn were being sold at record high of 638.89 dollars/ton and 320.26 dollars/ton respectively.
Thursday, July 19th 2012 - 08:18 UTC
US dollar reaches new high in Argentina: 6.80 Pesos

The US dollar reached a new high in the Argentine informal market during Wednesday trading at 6.74 pesos, 25 cents more than on Tuesday while the gap with the official exchange rate jumped to 47.2%.
Thursday, July 19th 2012 - 07:34 UTC
World Bank warns that Euro debt crisis will have an impact on most regions

World Bank President Jim Yong Kim on Wednesday warned that most regions of the world will be hurt by the debt crisis enveloping the Euro zone and said it was vital to protect the strong economic gains of the past decade in the developing world.
Thursday, July 19th 2012 - 07:07 UTC
EU/Mercosur trade talks suspended until after Paraguayan elections of April 2013

The removal of Fernando Lugo as president of Paraguay interrupted European Union/Mercosur discussions, which could resume following the April 2013 presidential elections said on Wednesday the European Parliament mission visiting Asunción.
Thursday, July 19th 2012 - 07:01 UTC
Monsanto plant in Cordoba will produce corn seed for 3.5 million hectares

US agrochemical giant Monsanto will direct most of a 365 million dollars investment in Argentina to a corn seed factory in the central city of Cordoba, the local government there has announced.
Wednesday, July 18th 2012 - 17:03 UTC
Geithner defends US response during the 2008 Libor-rate credibility slump

US Treasury Secretary Timothy Geithner defended his response in 2008 to concerns that emerged over the benchmark Libor interest rate, arguing on Wednesday that US regulators pushed early and forcefully for reforms.
Wednesday, July 18th 2012 - 16:57 UTC
ECB warns Euro countries will have to yield fiscal, debt and economic policy sovereignty

The Euro zone will have to get powers to limit the debt issuance of its members, intervene in national budgets and change national policies to build a deeper economic union, ECB Executive Board Member Joerg Asmussen said.
Wednesday, July 18th 2012 - 09:07 UTC
Chavez announces fund in support of Venezuelan business to export to Mercosur

Venezuelan president Hugo Chavez announced the creation of a strategic fund geared to support public and private exports to Mercosur, following his confirmation that he will fly to Brazil for the formal incorporation of his country as a full member of the block that also includes Argentina, Brazil, Uruguay and suspended Paraguay.
Wednesday, July 18th 2012 - 08:58 UTC
Brazil’s nominee for securities regulator chosen from the private sector

Leonardo Gomes Pereira, the chief financial officer of Brazilian airline Gol Linhas Aereas was nominated on Tuesday to head the country's securities regulator, in an unexpected pick outside the institution. Finance Minister Guido Mantega nominated Pereira to head the regulator, the CVM, the ministry said in a statement.
Wednesday, July 18th 2012 - 08:37 UTC
Argentina’s industrial production in May slumped 5.1%, says Industrial Union

Argentina's industrial production in May slumped 5.1% from a year earlier due to a sharp slowdown in the automotive, non-metal minerals and base metals sectors, manufacturer chamber UIA said in its monthly report Tuesday.