Economy

Saturday, July 14th 2012 - 07:17 UTC
Chile and Peru, best performing economies of the region leave rates unchanged

Chile and Peru opted this week against following the lead set by nations from Brazil to South Korea in cutting interest rates as economic growth and slowing inflation in the Pacific neighbors gave central bankers little reason to change monetary policy
Saturday, July 14th 2012 - 07:15 UTC
Markets find optimism in Chinese economy despite slower growth

China's economy has grown at its slowest pace in three years as investment slowed and demand fell in key markets such as the US and Europe. GDP rose by 7.6% in the second quarter, compared with the same period a year ago. That is down from 8.1% in the previous three months.
Saturday, July 14th 2012 - 07:12 UTC
Tourist arrivals in Chile up 15% in first half of 2012: Argentina, Brazil lead

Chilean Tourism Under Secretariat head Jacqueline Plass made a positive balance of tourism activity during the first half of the year with over 1.85 million foreign arrivals, a 15% increase over the same period a year ago.
Saturday, July 14th 2012 - 07:06 UTC
Visa and Mastercard agree to largest settlement with retailers over card fees

Credit card companies Visa and Mastercard and major US banks have agreed to a 7.25bn dollars settlement to retailers over card fees. The case, which has been going on for seven years, is over firms colluding to fix the fees that stores pay to process credit and debt card payments.
Saturday, July 14th 2012 - 06:48 UTC
Chile’s copper industry wants to develop shale gas to help lower energy prices

Shale gas may be the solution to one of the most serious problems the Chilean mining industry is facing because of the very high energy prices due to limited supply.
Saturday, July 14th 2012 - 01:22 UTC
Argentina has three annual inflation estimates: 9.9%; 23.96% and 30%

Argentina's government reported Friday that consumer prices rose by 0.7% in June. The estimate, published by national statistics agency, Indec, indicates that in the first half of 2012 inflation reached 5.1% and 9.9% in the last twelve months.
Saturday, July 14th 2012 - 01:03 UTC
Brazil ready to launch an eight storey “love hotel” for pets

Following in the footsteps of United States, Brazil is all set to open a “love hotel” for pets. The country is home to a 32-million-strong canine population the world's second largest after America.
Saturday, July 14th 2012 - 00:30 UTC
Top Brazilian entrepreneurs tie-up to develop mining opportunities in Latam and Africa

Brazil's top investment bank Banco BTG Pactual announced a tie-up with Roger Agnelli, former head of mining giant Vale, to invest up to 520 million dollars in Latin America and Africa.
Saturday, July 14th 2012 - 00:26 UTC
Brazil’s 2012/13 soybean crop in place to dispute the US supremacy

Next season, 2012/13 Brazilian soybean growers could be in place to jump from the world's No. 2 producer and dispute the US first place. Brazil's 2012-13 soybean production is expected to rise 25% from this season’s drought-punished, to 83.1 million tons.
Friday, July 13th 2012 - 23:46 UTC
Rousseff pledges to prop the economy but with no EU-style austerity measures

Brazil will not adopt EU-style austerity measures to tackle its economic crisis and will instead cut taxes and maintain social programs, President Dilma Rousseff said on Friday.