Economy

• Tuesday, May 3rd 2011 - 17:03 UTC

  Brazil’s industrial output expands for third consecutive month

  

  Brazil’s industrial output increased a seasonally adjusted 0.5% from February although it fell 2.1% compared with March 2010, the Brazilian Census Bureau, or IBGE, said Tuesday.

• Tuesday, May 3rd 2011 - 16:55 UTC

  EU farm lobbies increase campaign against trade agreement with Mercosur

  

  European Union beef prices would be cut by more than 8% and meat production across the EU would fall in value by more than €3bn if a trade deal were agreed with Mercosur, according to preliminary assessments from an agriculture advisory body to the European Commission.

• Tuesday, May 3rd 2011 - 08:20 UTC

  Argentina supports bill requiring companies to distribute 10% of profits to workers

  

  A day before Tuesday’s round of talks between Argentina’s organized labour (CGT) and the Industrial Union (UIA) to consider the possibility of a ‘social pact’ to help contain prices (inflation), the government expressed support for a law sponsored by unions that requires companies to distribute 10% of profits to workers.

• Tuesday, May 3rd 2011 - 08:09 UTC

  Food prices threaten Latam countries; urban poor need protection, says IDB

  

  Rising international food prices could trigger an acceleration of inflation in several countries in Latin America and the Caribbean this year, highlighting the need for policies to protect the urban poor, according to a new study from the Inter American Development Ban (IDB).

• Tuesday, May 3rd 2011 - 05:20 UTC

  FAO estimates 2011 rice world production up 3%; Latam to rebound 9.2%

  

  Rice production is expected to rise to 480 million tons in 2011, which is 3% higher than a year earlier, due to improved weather conditions, the United Nations Food and Agriculture Organisation said on Monday.

• Tuesday, May 3rd 2011 - 05:16 UTC

  Brazil’s trade surplus in April soars pushed by commodities prices

  

  The trade surplus rose to 1.86 billion USD last month from 1.55 billion in March, the ministry said. The figure compares with a 1.28 billion surplus in April last year. In the first four months of 2011 Brazil’s trade surplus totalled 5.03 billion USD which is up 132% over the same period a year ago.

• Tuesday, May 3rd 2011 - 05:05 UTC

  Argentine economy forecasted to grow 6.5% according to Central bank

  

  The Argentine economy is poised to expand by 6.5% or more this year, and unemployment may hover at the lowest level in two decades, the central bank said.

• Tuesday, May 3rd 2011 - 04:59 UTC

  New German central bank chief promises continued “stability culture”

  

  Germany’s Bundesbank new hawkish president Jens Weidmann said private investors should help cover costs of the Euro zone crisis. Mr Weidmann promised a continued “stability culture” at the German central bank after taking over from outgoing president Axel Weber.

• Tuesday, May 3rd 2011 - 00:41 UTC

  EU/Mercosur trade negotiations resume in Paraguay

  

  Bilateral negotiations for a trade agreement between Mercosur and European Union delegates are scheduled to resume Tuesday in Asunción, Paraguay.

• Tuesday, May 3rd 2011 - 00:32 UTC

  Farmers warn European Parliament of ‘catastrophic impact’ of trade accord with Mercosur

  

  European farmers insisted Monday before the European Parliament on the “catastrophic impact” that a trade agreement with Mercosur could have for the EU agriculture.