Economy

• Thursday, February 23rd 2012 - 04:13 UTC

  LAN slashes Chile-South America fares to promote tourism and air travel

  

  Chile’s flag-carrier LAN announced that as of Wednesday it will cut Chile-South America fares as much as 40%. For years LAN has used what is known as the low-cost carrier model on its domestic flights, which has greatly reduced fares on its domestic flights and increased traffic.

• Wednesday, February 22nd 2012 - 02:50 UTC

  US and Mexico agree to develop deep-water oil and gas fields in the Gulf of Mexico

  

  US and Mexico have agreed to work together to develop deep-water oil and gas fields that straddle their maritime border in the Gulf of Mexico. The deal was signed at a meeting of the G20 group of industrial and developing countries in Los Cabos, Mexico.

• Tuesday, February 21st 2012 - 21:07 UTC

  Argentina/UK 2011 bilateral trade totalled 1.4bn dollars; could suffer ‘Malvinas’ dispute impact

  

  A private Argentine report warns that the current diplomatic dispute over the Falklands/Malvinas could have an impact on bilateral trade with the UK which last year totalled over 1.4 billion dollars with a 150 million surplus for Buenos Aires.

• Tuesday, February 21st 2012 - 06:38 UTC

  Brazilian banks increase reserves fearing a consumers’ credit bubble

  

  Brazilian banks have increased their reserves by 21% to the equivalent of 67.3 billion dollars fearing a possible moratorium while consumers are facing growing problems to address payments, according to the Sunday edition of Correio Braziliense

• Tuesday, February 21st 2012 - 05:19 UTC

  Argentine economy expands 8.8% in 2011; capital outflow reaches 21.5bn dollars

  

  The Argentine economy expanded 8.8% in 2011 according to the controversial National Statistics office, Indec, while the Central bank reported that 21.5 billion dollars fled from the country last year, which is 88% higher than in 2010.

• Tuesday, February 21st 2012 - 05:16 UTC

  Dutch scientists planning first lab-grown hamburger later this year

  

  Dutch scientists have used stem cells to create strips of muscle tissue with the aim of producing the first lab-grown hamburger later this year. The aim of the research is to develop a more efficient way of producing meat than rearing animals.

• Tuesday, February 21st 2012 - 04:36 UTC

  Rousseff promises fiscal and credit stimuli to promote exports and innovation

  

  Brazilian president Dilma Rousseff said the government will implement fiscal and credit access measures to stimulate production and exports with the purpose of gaining competitiveness in a global context of crisis.

• Saturday, February 18th 2012 - 06:25 UTC

  Zurich and Tokyo, and Geneva and Osaka, the world’s most expensive cities

  

  The strong Swiss franc has seen Zurich top Tokyo as the world's most expensive city in a survey out this week. Zurich, ranked fourth last year, took the unenviable crown in the 2012 Worldwide Cost of Living Survey by the Economist Intelligence Unit.

• Friday, February 17th 2012 - 03:59 UTC

  UK analysts says Falklands’ oil industry could be worth 180 billion dollars in royalties and taxes

  

  A leading UK market and investment analyst, Edison Investment Research looks at the prospects of the Falkland Islands oil industry and suggests the industry could be worth 180 billion dollars in royalties and taxes.

• Friday, February 17th 2012 - 03:42 UTC

  Argentine Managers’ inflation estimated in 3.27% in January; 21.1% in 12 months

  

  Another measurement of inflation in Argentina shows the annual rate sustained at two digits. In this case the CPE index, or Professional Executive Basket, during January 2012 was up 3.27%, accumulating in the last twelve months, 21.1%.