Economy

Friday, May 13th 2011 - 14:11 UTC
Mercosur has a surplus production of three million tons of rice

Uruguay which does not harvest transgenic rice has been consolidating as a growing European Union supplier and is a traditional provider for Mexico and Middle East countries such as Iran and Iraq.
Friday, May 13th 2011 - 14:03 UTC
Brazil tightens requirements for car imports: Argentina and Asia targeted

Brazil is tightening requirements for imports of cars in a move that sparked complaints from Argentina, its biggest supplier of the product. Imports to Brazil will need a special license that can take as long as 60 days to be approved, the Trade Ministry said in an e-mailed statement.
Friday, May 13th 2011 - 13:55 UTC
Brazilian president still recovering from pneumonia cancels trip to Paraguay

Brazilian president Dilma Rousseff cancelled on medical advice Sunday’s trip to Asunción where she was scheduled to participate in the bicentennial celebrations of Paraguay’s independence.
Friday, May 13th 2011 - 05:18 UTC
IMF warns Latam economic boom ‘could end in tears’ if spending is not trimmed

Latin America's economic boom could end in a “full-blown” crisis unless the region's governments properly manage the situation, the International Monetary Fund's top regional official said in an unusually stark warning to both policymakers and investors.
Friday, May 13th 2011 - 05:15 UTC
Power outage knocks out Venezuelan refinery complex, one of the world’s largest

A power fault hit Venezuela's main refinery centre on Thursday, stopping the 310,000 barrel-per-day Cardon facility and partially halting the 645,000-bpd Amuay installation, a source at state oil company PDVSA said.
Friday, May 13th 2011 - 04:49 UTC
Brazil warns Argentina about restrictions to bilateral trade

Brazil’s Commerce and Industry minister Fernando Pimentel called on the Argentine government to de-activate restrictions on Brazilian exports and revealed he had addressed a letter to his Argentine peer Debora Giorgi exposing restrictions on bilateral trade and demanding a reply this coming week end.
Friday, May 13th 2011 - 04:42 UTC
Mid sized Chilean farms going broke because of rising costs and cheap US dollar

The Chilean Federation of Fruit Producers (Fedefruta) will join with the Association of Exporters (Asoex) and nearly 50 other exportation and agricultural associations across Chile to present proposals to, and demand aid from, the government next Friday, May 20. They will convene in Requínoa, in Chile’s Bernardo O’Higgins Region.
Friday, May 13th 2011 - 01:01 UTC
US trade deals with Colombia, Panama and Korea could be approved ‘by August’

The United States free trade deals with Colombia, Panama and South Korea will pass through Congress by August if Republicans renew funding for the retraining of displaced workers, the chief U.S. trade official said Thursday.
Friday, May 13th 2011 - 00:54 UTC
US farmers lobby strongly for FTA, which could generate 22.500 jobs

The inability of the United States Congress and the administration to move three stalled free trade agreements is hurting US economic growth, testified American Farm Bureau Federation President Bob Stallman before the House Agriculture Committee.
Thursday, May 12th 2011 - 20:05 UTC
Italy’s Draghi receives support from Angela Merkel as next ECB president

German Chancellor Angela Merkel expressed support for Italy’s Mario Draghi as the next president of the European Central Bank, removing the final obstacle to his appointment to Europe’s top monetary post.