Economy

• Wednesday, August 17th 2011 - 14:40 UTC

  Brazil JBS, world’s largest beef producer, reports losses and mounting debt

  

  Brazil's JBS SA, the world's biggest beef producer, reported a second-quarter net loss of 180.8 million Real (114 million dollars), reversing a year-ago gain as US performance suffered.

• Wednesday, August 17th 2011 - 08:16 UTC

  Sarkozy and Merkel pledge support for the Euro but disappoint markets

  

  The leaders of France and Germany meeting in Paris unveiled wide-reaching plans for closer Euro zone integration, including deficit limits and biannual summits but said joint Euro bonds could only be a long-term option.

• Wednesday, August 17th 2011 - 07:36 UTC

  Sao Paulo, Rio, Caracas and Bogotá most expensive cities in South America

  

  The Brazilian cities of Sao Paulo (19) and Rio do Janeiro (26), together with the Venezuelan capital Caracas (47) and Bogotá (57) Colombia, figure among the most expensive cities in Latin America, according to a bi-annual rating from the Swiss bank, UBS.

• Wednesday, August 17th 2011 - 07:28 UTC

  World Bank calls on governments to work on long-term debt curbs

  

  The World Bank has called for national governments to seek long-term debt curbs to solve the current sovereign debt crises in Europe and the United States, but said it was too early for special action by the Group of 20 nations.

• Wednesday, August 17th 2011 - 07:14 UTC

  African swine fever outbreak in southern Russia: 12.000 pigs to be culled

  

  A state of emergency has been imposed in a district in the Krasnodar Region in south Russia amid a major out-break of the African swine fever, the regional emergencies centre announced Sunday.

• Wednesday, August 17th 2011 - 07:13 UTC

  Australian beef farmers set to benefit from McDonald plans to expand in China

  

  Plans by McDonald’s Corporation to expand its store network in China could spell good news for Australia’s beef producers, according to the Aussie press.

• Wednesday, August 17th 2011 - 07:06 UTC

  Fitch reaffirms US sterling AAA rating but calls for political agreement

  

  Fitch Ratings on Tuesday reaffirmed the United States' AAA credit rating. The move comes less than two weeks after Standard & Poor's downgraded the United States' long-term debt to AA+.

• Wednesday, August 17th 2011 - 01:22 UTC

  Paraguay attracted a billion dollars in private investment in three years

  

  Over a billion dollars have poured to the Paraguayan private sector, mostly under the ‘maquila’ system in the last three years according to a report from the Ministry of Industry and Commerce.

• Wednesday, August 17th 2011 - 01:06 UTC

  Venezuelan creditors want cash and gold reserves ‘closer home’, claims lawmaker

  

  Venezuela could transfer billions of dollars in cash and gold reserves held in U.S. and European banks to financial institutions in “allied” countries, claims opposition lawmaker Julio Montoya.

• Wednesday, August 17th 2011 - 00:49 UTC

  United States recovers position as world’s leading exporter of beef

  

  The United States has recaptured its position as the world’s leading exporter of beef, outpacing Brazil and Australia, according to the latest statistics released by the US Department of Agriculture. Mexico a traditional market and Latin American countries proved to be among the most dynamic.