Economy

• Friday, June 10th 2011 - 05:17 UTC

  Chile is China’s “gateway to Latin America” and its unique ally in the region

  

  China Vice-President Xi Jinping arrived in Chile Thursday to forge closer ties with the nation that has branded itself as China's “gateway to Latin America”.

• Friday, June 10th 2011 - 05:10 UTC

  China and Uruguay sign 17 cooperation accords and 530m USD trade package

  

  Visiting Chinese Vice-President Xi Jinping signed Wednesday in Uruguay 17 cooperation agreements and trade contracts for the purchase of 530 million US dollars in Uruguayan goods before leaving for Chile the third leg of his tour of Latin America.

• Friday, June 10th 2011 - 03:56 UTC

  Record exports in April helped to lower US trade deficit by 6.7%

  

  Exports of US goods and services rose to a record 175.6bn in April, helping to shrink its trade deficit. Data from the Commerce Department showed the gap between imports and exports fell by 6.7% to 43.7bn as manufacturers shipped more items such as computers.

• Friday, June 10th 2011 - 01:34 UTC

  Top EC official in South America to promote trade, tourism and cooperation

  

  A top European Commission official is on a round of visits to South American countries to strengthen economic, industrial and tourism ties with the region because Latin America has emerged as “a strategic and dynamic economic player”.

• Thursday, June 9th 2011 - 22:48 UTC

  Brazil crop of grains and oilseeds expected to reach a record 161.5 million tons

  

  Brazil’s 2010/2011 crop of grains and oilseeds is estimated to reach 161.5 million tons, up 8.2% (8.2 million tons) over the previous farm year (149.2 million tons), according to the latest survey from the National Supplies Corporation, Conab.

• Thursday, June 9th 2011 - 22:41 UTC

  Brazil’s world’s leading chicken exporter in 2011, ahead of the United States

  

  Brazil is poised to overtake the United States for the first time ever, as the world’s leading exporter of chicken, with a third of global trade, according to the latest statistics from FAO released this week.

• Thursday, June 9th 2011 - 22:26 UTC

  IMF says US does not need additional monetary stimulus

  

  The Federal Reserve does not need to consider additional monetary policy stimulus as the world's largest economy is likely to pick up in coming quarters due to growth in exports and disposable incomes, IMF acting chief John Lipsky said.

• Thursday, June 9th 2011 - 20:31 UTC

  Chile’s economy forecasted to slow growth following 8.9% in first quarter

  

  After months of record-setting growth, experts expect Chile’s economy to slow. Analysts say that the 8.9% growth in the first quarter of 2011 will slow and the year will end with an overall growth of between 6 and 7% for the year.

• Thursday, June 9th 2011 - 19:49 UTC

  Bank of England leaves rates unchanged to bolster recovery

  

  The Bank of England’s Monetary Policy Committee voted Thursday to maintain the official Bank Rate paid on commercial bank reserves at the record low 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion.

• Thursday, June 9th 2011 - 19:24 UTC

  Brazil hikes basic rate to 12.25% and further increases can be expected

  

  Brazil's central bank increased late Wednesday its benchmark interest rate for the fourth straight meeting after consumer prices exceeded the upper limit of its target range for the first time since 2005.