Economy

Friday, July 29th 2011 - 10:35 UTC
Brazil begins exporting rice to South Africa, competing with Thailand

Brazil has begun shipping rice to South Africa, competing with Thailand, the largest source of the grain for Africa’s largest economy. A shipment of rice from Brazil’s Santa Catarina state left Santos bound for South Africa this week.
Friday, July 29th 2011 - 07:21 UTC
“Deep changes since 2006” should pave the way for Venezuela’s return to CAN

The Venezuelan-Colombian Chamber for Economic Integration (Cavecol) has formally requested national authorities that Venezuela re-joins the Andean Community of Nations, CAN, from which it pulled out three months ago following the original decision dating back to 2006.
Friday, July 29th 2011 - 07:08 UTC
Repsol-YPF earnings hit by civil war in Libya and labour strikes in Argentina

Repsol-YPF, Spain’s largest oil company, said second-quarter earnings fell 7.3% after refining margins narrowed and output declined because of the civil war in Libya and strikes in Argentina.
Friday, July 29th 2011 - 07:02 UTC
Latam and Caribbean hold 727bn dollars in US government debt assets

The UN Economic Commission for Latin America and the Caribbean, ECLAC, expressed public concern about the ongoing discussions between the White House and Congress regarding the governments’ borrowing limit and the August 2 deadline to reach an agreement.
Friday, July 29th 2011 - 06:40 UTC
World Cup set to boost Brazil’s GDP by 1.5%, estimates the country’s main bank

The three-year build-up to the 2014 soccer World Cup is set to boost Brazil’s economy by 1.5% of GDP, according to Ilan Goldfajn, chief economist of the Itau Unibanco Holding, Latin America’s largest bank by market value.
Friday, July 29th 2011 - 06:32 UTC
Claims China is ‘circumventing’, via US, to avoid Brazil anti-dumping tariffs

Brazilian newspaper Estado de Sao Paulo revealed documents from Chinese company Sun Falcon International Inc. offering triangulation scheme through Los Angeles port, the busiest container port in the US, to avoid Brazilian anti-dumping tariffs.
Friday, July 29th 2011 - 06:27 UTC
Brazil has not been ‘soft’ on Argentina and on imports from China

Brazilian officials brushed aside claims from exporters that the country has been ‘soft’ on Argentina and on imports from Asia, mainly China, arguing that trade figures indicate something different and “you can’t have it both ways, liberal and protectionist”.
Thursday, July 28th 2011 - 20:39 UTC
US unemployment benefit claimers dropped last week for the first time since April

The number of US citizens claiming new unemployment benefits last week dropped below the 400,000 level for the first time since early April, a hopeful sign for the US economy which has struggled to regain momentum.
Thursday, July 28th 2011 - 20:30 UTC
Second rescue plan “too tough for Greece, too light for private creditors”

Representatives of leading emerging market countries at the IMF have warned the Fund's management against pouring more large sums of money into Greece's second bailout, the Financial Times reported on Thursday.
Thursday, July 28th 2011 - 20:23 UTC
Top IMF official joins White House as special assistant on international economic affairs

International Monetary Fund's external relations director Caroline Atkinson resigned Thursday after being appointed the as a White House special assistant to the president for international economic affairs.